Pension funds warned of governance problems

MPF and other Asian pension fund schemes may be vulnerable to a crisis, argues consultant.
Pension fund schemes under Hong KongÆs Mandatory Provident Funds regime and pension funds generally in Asia face political risk in the event of a crisis or scandal if they donÆt improve their governance and transparency, says Jamie Allen, secretary general of the Asian Corporate Governance Association in Hong Kong.

He presented his remarks to a luncheon hosted by the Hong Kong Retirement Schemes Association. The audience was small, which is a pity, as Allen actually had something to say. Perhaps HKRSA members were sceptical following last monthÆs luncheon, featuring a regulator who chose to enlighten the industry by reading slides found on his organisationÆs website.

Specifically addressing the MPF scheme, Allen argues that while the...
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