Yet another money grab of sorts being proposed on behalf of financial institutions.. I think.
https://www.thestandard.com.hk/secti...push-takes-hitIn an interview with The Standard's sister publication Sing Tao Daily published yesterday, Secretary for Labour and Welfare Law Chi-kwong said the next administration should study whether to make it mandatory for retirees to transfer such balances into an annuity plan or even automatically make the transfer for them.
Law said it is time to explore the possibility of such transfers with the public annuity plan having been launched three years ago.
If a retiree is unwilling to make the transfer, he said they should automatically be able to take out MPF savings under the proposal.