More Hong Kong workers make voluntary contributions to MPF as returns shrink by 21 per cent
More Hong Kong workers have made voluntary, tax-deductible contributions to their mandatory pension accounts in the past financial year than during the previous one, while the net returns of the scheme shrank 21 per cent due to market volatility. The Mandatory Provident Fund (MPF), the compulsory retirement scheme that covers 4.7 million residents, had amassed assets worth HK$1.11 trillion (US$142 billion) as of March 31, compared with HK$1.12 trillion a year ago, according to the operator’s annual report released on...
