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After some 30 years of debate on how to provide financial security for the ageing Hong Kong population, the British Hong Kong Government legislated on a mandatory, privately managed fully funded contribution scheme in 1995 along the lines of the second pillar defined in the World Bank report.
Hong Kong: [3] Mandatory Provident Fund (MPF Schemes) Occupational Retirement Schemes (ORSO Schemes) India: Pensions in India; National Pension System; Employees' Provident Fund Organisation of India; Iranian Social Security Civil Servants Pension Fund; Japan – National Pension; Malaysia:
Hong Kong's Mandatory Provident Fund lost a total of HK$23.26 billion (US$3 billion) during the first half of the year, according to calculations by the Post, as the outbreak of the coronavirus ...
After seven consecutive years of budget surplus, the Hong Kong Government held a record HK$579 billion in reserve during the 2011 financial year. [4] Under pressure to use the money to do more for the elderly and the poor, Financial Secretary John Tsang announced in the 2011–2012 budget on 23 February 2011 a scheme modelled from the 2008–2009 financial year, whereby HK$6,000 were to be ...
Lawmakers and pension experts have urged the Hong Kong government to follow Australia's lead and allow employees to dip into their savings in the city's pension scheme to help them cope with the ...
The Mainland and Hong Kong Closer Economic Partnership Arrangement, or Closer Economic Partnership Arrangement (CEPA) for short, is an economic agreement between the Government of the Hong Kong Special Administrative Region and the Central People's Government of the People's Republic of China, signed on 29 June 2003.
The Provisional Legislative Council (PLC) was the interim legislature of Hong Kong that operated from 1997 to 1998. The legislature was founded in Guangzhou and sat in Shenzhen from 1996 (with offices in Hong Kong), until the 1997 handover when it moved to Hong Kong to temporarily replace the Legislative Council of Hong Kong.
The Dow's losses amount to roughly 3%, or more than 1,500 points, in the past nine trading sessions. The index has fallen from a record close of 45,014 on Dec. 4 to 43,499 as of Tuesday's close.