What happened in March 2011?
On 2 March 2011, the government scrapped the HK$6,000 MPF injection for HK$6,000 cash to every Hong Kong permanent resident aged 18-plus, plus a 75% salaries-tax rebate (capped at HK$6,000). The original MPF-injection plan had drawn fire from all parties and the public — locked till 65, it couldn’t ease hardship now; the cash switch was widely welcomed.
What’s the lesson?
A one-off handout isn’t retirement security; long-term saving is on you — at MPF fund comparison.
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