On 25 February 2011, the Financial Services and Treasury Bureau answered media queries with details of the Budget’s MPF injection: everyone who was already an MPF or ORSO (Employment Ordinance-covered) member on 23 February 2011 would get a one-off HK$6,000 in their account, with HK$24 billion earmarked.
Were teachers covered?
Yes. The bureau confirmed teachers under the aided-school and subsidised-school provident fund schemes would benefit too.
When were details coming?
The bureau said details would follow. As events turned out, the injection was withdrawn on 1 March in favour of HK$6,000 cash for all permanent residents 18+ — the public hated money locked until 65, and the “N-nothings” got nothing.
This is history; see today’s MPF landscape at MPF fund comparison.
Related articles
View all
Should the Government Inject Into MPF or Pay Contributions Instead?
Why did a 2011 commentary propose “paying contributions” over...
Union Proposes HK$15 Billion Employer Subsidy to Speed Up Scrapping MPF Offsetting
With the 2018 Budget due in February, the Federation of Trade Unions met...
Think twice before tapping MPF savings for a first home: what can HK$180,000 do against a HK$2 million down payment?
The MPFA was studying whether to allow early MPF withdrawals for first-time...