HK workers to get control of their MPF cash

Employees unhappy with returns on their Mandatory Provident Fund have the opportunity from next month to choose their provider. But the system is still far from perfect.

The MPF is aimed at providing retirement protection for the city's 2.35 million workers but the system from day one has been structured in a way that is employer driven instead of employee driven.

Established in 2000, the fund requires employers and employees to each pay 5 per cent of the worker's salary - up to HK$2,500 a month - to an MPF provider such as a bank or fund company.

via Business feed http://www.scmp.com/business/article/1062049/hk-workers-get-control-their-mpf-cash