The ultimate mandate

Hong KongÆs bureaucrats ponder the future of their own pensions.

Governments, whether of corrupt police states or by-the-book democracies, are adept at not only deciding how their citizens should behave but also at exempting themselves from these same rules. Hong Kong is no exception. Most of the town is caught up in MPF fever. The Mandatory Provident Fund rules kick in on December 31, when every citizen, regardless of their wealth, profession or employment status, will have to enroll. MPF may be good for you, but for service providers and plan sponsors alike, the next few months will be grueling.

PA mag: ultimate mandateUnless you are a civil servant, that is. The bureaucrats are conveniently exempt from MPF legislation. No panicky last-minute mandate to investment managers for...

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