Financial Secretary John Tsang announced a one-off HK$6,000 injection into every citizen’s MPF account. In the budget, he said that to boost retirement savings for MPF and ORSO members, everyone covered by the Employment Ordinance who was already in an MPF or occupational retirement scheme on 23 February this year would receive the payment.
What are the terms?
No income cap; HK$24 billion earmarked. The injection has no income ceiling, aiming to help more citizens prepare for retirement; Tsang said it adds no inflationary pressure and is fiscally affordable, with HK$24 billion reserved. The Financial Services and the Treasury Bureau will announce details later, the MPFA will help execute, and Tsang hopes injections begin within the 2011–12 financial year.
To see fund options for your topped-up account, visit MPF fund comparison.
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