Why Did Groups Oppose Raising the Ceiling to HK$25,000?

What did LegCo hear in August 2011?

On 1 August 2011, LegCo’s bills committee heard views on raising the maximum relevant income from HK$20,000 to HK$25,000; treasury official Wong Kwok-ling said the law required four-yearly reviews and the ceiling should have hit HK$30,000 back in 2000, but the government waited for the right moment; the June 2012 start date allowed for employer cash-flow and worker adjustment. Management fees had eased slightly in four years but could fall further, she added.

How did groups object?

Several argued only MPF managers benefit from higher income levels — nothing for employers or workers fighting inflation.

What’s the lesson for workers?

Higher contributions mean managers collect more — choose low-fee funds at MPF fund comparison.