The Limited Times

Now you can see non-English news...

The government researched to encourage the conversion of MPF to annuity to provoke the public to rebound.

2021-10-15T04:46:09.397Z


The Secretary for Labour and Welfare, Law Chi-kwong, earlier proposed to study the compulsory conversion of MPF to an annuity, which aroused public opposition. He changed the name of the relevant arrangement yesterday (14th) to the "Fantasy Night". He also said that the annuity rate of return was 5%


The Secretary for Labour and Welfare, Law Chi-kwong, earlier proposed to study the compulsory conversion of MPF to an annuity, which aroused public opposition. He changed the name of the relevant arrangement yesterday (14th) to the "Fantasy Night".

He also pointed out that the annuity rate of return was 5%, and he would buy the annuity as part of his investment portfolio after he retired.

The public annuity scheme has been implemented for more than three years. How many citizens are participating now?

How many annuities have been received?


First look at the MPF figures▼▼▼

The annuity plan launched in 2018 is aimed at people aged 60 or above. After a lump-sum premium, the insured can receive a certain amount of annuity each month until he dies, providing the insured with a stable and life-long cash flow, and can better plan for retirement Life.

Lam Cheng Yuet-ngor responded when she attended a radio program after reading the "policy address" that the public's awareness of annuities is still not high, so the government wants to take one step further or increase incentives to allow the people to choose. At present, there is no intention to force the public to make MPF contributions. Mandatory conversion to annuity.

As of March this year, the Hong Kong Annuity Plan has approved 11,000 insurance policies, involving a total of 7.8 billion.

The minimum premium for annuities is 50,000 yuan and the maximum is 3 million yuan.

Since February last year, the minimum insurance age has been lowered from 65 to 60, and the average insurance age has also decreased year by year, from 69.7 years in 2018 to 65.4 years this year, including 6 surrender applications.

According to the Hong Kong Annuity, the insured can receive the annuity until his death, while guaranteeing that he can receive no less than 105% of the premiums paid.

Assuming that a 60-year-old man insures 1 million yuan, within a guarantee period of 206 months (17 years and 2 months), he can receive an annuity of 5,100 yuan per month until his death, which means that he receives an annuity until he is 77 years old and 2 months old and can get it back Premiums paid and guaranteed returns.

As the life expectancy of women is longer than that of men, men and women of the same age can receive different annuities every month even if the insured amount is the same.

Assuming that a 60-year-old lady also insures 1 million yuan, the guarantee period is 224 months (18 years and 8 months), that is, she receives an annuity of 4,700 yuan per month until she is 78 years and 8 months to get back the paid premiums and guaranteed returns .

Policy Address | The Government Continues to Promote Carbon Neutrality and Reduction of Carbon Emissions by 2050, Will the Electricity Charges of the Public Affected?

The policy address advocates Zeng Bai Shek Kok Station!

MTR’s assessment of East Rail’s load factor is far from overwhelming the policy address. The full text mentions the largest number of developments in 34,000 words. The number of youths decreases in the policy address. The development of the northern metropolitan area increases by 900,000 units and which netizens are most concerned about area

Source: hk1

All news articles on 2021-10-15

You may like

Trends 24h

News/Politics 2024-03-28T06:04:53.137Z

Latest

© Communities 2019 - Privacy

The information on this site is from external sources that are not under our control.
The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.