Fidelity survey highlights alarming savings rate in Hong Kong

Investment manager says MPF contributions need to rise to ensure Hong Kongers avoid poverty in old age.

The Hong Kong government should consider increasing mandatory contributions to the Mandatory Provident Fund MPF as a way of heading off a growing pension crisis in the region, according to FidelityƆs head of institutional investments in Hong Kong, Nick Rogers.

Speaking at the release of the first ever Fidelity Retirement Readiness Indicators survey, Rogers says increasing mandatory contribution levels would be the most obvious way of easing a pensions problem that has already hit may Western countries, and which is...

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