HSBC mulls yuan-denominated MPF as 30% want employers to fund retirement

HSBC Insurance Hong Kong managing director Leo Leung says longer life expectancy and changing family values have more Asians planning their own retirements; the bank will keep developing Hong Kong’s retirement investment market, including a planned yuan-denominated MPF to meet demand.

How do Hongkongers view retirement funding?

Nearly 30% want employers to provide most of it. An HSBC Insurance retirement-contributions survey found nearly 30% of Hong Kong respondents want employers to provide the bulk of retirement funding; nearly 60% hope to support retirement through personal income, cash savings and investments; 12% say they’ll rely on children in retirement.

What’s the promise of a yuan MPF?

Riding yuan internationalisation and retirement demand. As yuan business grows in Hong Kong, demand rises for yuan-denominated retirement products; HSBC is studying a yuan MPF to give members another currency choice.

To see current MPF fund types, visit MPF fund comparison.