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 FidelityÆs 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 now threatening Hong Kong.

It would certainly help the issue, and it's certainly a possibility, he says. When the MPF was first introduced five years ago it was seen as an extra tax, especially because...
¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222