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Written by: Huang Yongyu
2020-09-06 17:12
Last update date: 2020-09-06 17:12
The MPF hedging mechanism has always been criticized. The General Union of Education Workers has recently received requests from school workers for help, stating that the school hedges part of the employer's voluntary contributions against long-term service payments.
The union criticized that the hedging mechanism has become a reserve for employers to pay for statutory employee rights and urges the government to legislate to remove the hedging as soon as possible.
The school worker said that voluntary contributions to the MPF were hedged.
Mr. Ye has been working as a school worker in a subsidized secondary school in Kowloon Tong since 2001. He was asked to retire last year, but found that part of his employer's voluntary contributions were also hedged.
The Education Staff Federation recently received requests from school workers for help, stating that the school hedges part of the employer's voluntary contributions with long-term service payments.
(Provided by interviewee)
The Federation of Trade Unions proposes to abolish legislation as soon as possible.
Tang Jiabiao, deputy director of the
Hedging
Federation of Trade Unions’ Equity Committee, said that unlike the company, under the current mechanism, the school will provide voluntary contributions for employees with more than 10 years of experience. Part of the contribution is 5-10%. .
Yu Qihua, president of the Education Workers Federation, criticized that the hedging mechanism has become a reserve for employers to pay for statutory employee rights.
The Federation of Trade Unions recommends that the government should legislate to eliminate hedging as soon as possible so that the law will take effect as soon as possible. As for government contract employees and employees of subvented organizations, they should be exempted from hedging before the law takes effect.
The labor sector proposes a policy address to promote the implementation of unemployment assistance funds to cancel the MPF hedging within the year
[Withdrawal of MPF Hedging] Luo Zhiguang pointed out that the drafting of legislation will be launched next year on implementation details
[Withdrawal of MPF Hedging] Workers who are about to retire will hardly benefit from the Trade Union: The devil is in the details
MPF Hedging the MPF Workers’ Federation