SUN LIFE TRUSTEE COMPANY LIMITED 永明信託有限公司
MPF intermediary and 4 clients charged with conspiracy over early MPF withdrawal
ICAC, 30-Apr-2024
Of course, this wouldn't be a thing if the savings scheme was not compulsory. MPF is Mandatory Payment of Fees to asset managers and removes workers' free choice over what to do with a substantial portion of discretionary income after living costs, in return for a lump sump (after fees) at 65 when the freedom resumes and they can pay off their debts or gamble. If an employer is willing to spend HK$21k per month on an employee, then currently $2k of that goes into the MPF and $19k goes to the employee, on which they and often their family must survive.
ICAC, 30-Apr-2024
Of course, this wouldn't be a thing if the savings scheme was not compulsory. MPF is Mandatory Payment of Fees to asset managers and removes workers' free choice over what to do with a substantial portion of discretionary income after living costs, in return for a lump sump (after fees) at 65 when the freedom resumes and they can pay off their debts or gamble. If an employer is willing to spend HK$21k per month on an employee, then currently $2k of that goes into the MPF and $19k goes to the employee, on which they and often their family must survive.
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