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  • 1 Post By Claire ex-ax

Robbing your retirement savings to pay for firing you set to end

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  1. #1

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    Robbing your retirement savings to pay for firing you set to end

    CY Leung promises to resolve MPF offset controversy before term ends | South China Morning Post

    Let's wait and see.

    This mechanism of employers taking money from employees pensions to pay for redundancy costs is vile and double so when combined with the rigged MPF system that offers such high fees.

  2. #2

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    "Resolve the controversy" is not exactly the same as "ending the practice of robbing your.......".

    Not going to be holding my breath in anticipation.

    shri likes this.

  3. #3

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    yeah, not expecting anything to change anytime soon.


  4. #4

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    Is there an election coming up? 2017 has a familiar ring to it.

    Sith likes this.

  5. #5

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    Quote Originally Posted by Claire ex-ax:
    Is there an election coming up? 2017 has a familiar ring to it.
    No, there is no election coming up...

  6. #6

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    Quote Originally Posted by vmlinuz:
    No, there is no election coming up...
    Method for Selecting the Chief Executive by Universal Suffrage - Home

  7. #7

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    Erm... I'm not sure if I'm misunderstanding you, but there will be no election next year, since the constitutional amendments didn't pass LegCo. As in previous years, the CE will be 'chosen' by a vote of an almost entirely closed committee.

  8. #8

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    It seems to save companies from the perk they have had for a long time the Government will rob the tax payer to pay the robber barons

    https://www.scmp.com/news/hong-kong/...lan-offer-hk29

    Is there no check and balance on the government making terrible decisions such as gifting huge sums of money to the tycoons?


  9. #9

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    Original Post Deleted
    Or a government run fund platform, with institutional pricing on fund fees (meaning Index exposure nearly for free) and active management deeply discounted. All fund managers joining on voluntary basis of course, government does the fee negotiations down to lowest Inst prices. This model worked well in Sweden. Problems with the Swedish model has been that they also let in shitty fund companies, which through cold calling lured mostly older people to switch to these poor options. But there is nothing stopping HK Gov to implement it in a better way than Sweden did.