Carrie Lam pledges decision ‘as soon as possible’ on ending MPF offset scheme

Hong Kong leader Carrie Lam Cheng Yuet-ngor has promised to make a decision as soon as possible on stopping employers from dipping into workers pension funds for severance and long-service payments. Carrie Lam said on Tuesday the controversial Mandatory Provident Fund (MPF) offsetting mechanism had been undermining the benefits of retirement protection for employees, which was supposed to be the very purpose of setting up the scheme. Renee Kwan has details.

epa05872809 Hong Kong Chief Executive-designate Carrie Lam looks on during a press conference at the Central Government Offices in Hong Kong Source: EPA