Donald Tsang: Universal Retirement Protection Unrealistic Short-Term — Better to Improve MPF

Chief Executive Donald Tsang told a Q&A session he understands ageing concerns, but universal retirement protection lacks social consensus, with contributions and sustainability hotly disputed — forcing consensus for sweeping reform short-term is “unrealistic”; better to improve existing measures and review the MPF.

Tsang’s case

The pushback

Democrat Albert Ho: “unworkable” is groundless and exaggerated; society has tabled various models — the government should study, not dismiss; the old-age pension failed on sloppy colonial-era research, not comparable.

FTU’s Wong Kwok-kin: the government must at least start researching universal protection so society feels “more comfortable”; a short term left is no excuse — at minimum, “make a start”.

What’s happening now?

The government is reviewing the MPF system with the MPFA and boosting elderly welfare.

Is universal retirement protection just being stalled? Consensus won’t build itself — without starting research, the same lines will be repeated in ten years. Compare MPF funds’ fees and returns at MPF fund comparison.