Chief Executive Carrie Lam said that the three most important tasks in her tenure in the 1950s were the implementation of the "Hong Kong National Security Law" two years ago, the "improvement of the electoral system" passed by the Legislative Council last year, and the "2022" signed on Thursday (16th). The Employment and Retirement Schemes Legislation (Offset Arrangements) (Amendment) Ordinance, which abolished the MPF hedging scheme, was gazetted on Friday (17th).
Public consultation as Chief Secretary for Administration and Chairman of the Commission on Poverty
Lam Cheng Yuet-ngor said on Facebook that after the MPFA's "Easy MPF" platform is fully operational in 2025, the "old, big and difficult" problem of MPF hedging arrangements, which has plagued the labor sector for many years, will be resolved.
Lam Cheng said that he had conducted research and public consultation on retirement protection in Hong Kong earlier than when he was the Chief Secretary for Administration and Chairman of the Commission on Poverty Alleviation, so he was "focused" on the issue of MPF hedging.
She said that abolishing "hedging" can not only better protect employees' retirement rights, but also help achieve "full freedom" of MPF funds. The question is how to balance the operational burden of employers, especially small and medium-sized enterprises.
When he ran for the chief executive in 2017, Lam Cheng had promised to find a solution in his political platform. After taking office, he proposed an optimization plan, and the government's financial commitment was also increased by multiples.
The final bill was passed in the third reading of the Legislative Council last Thursday (9th), which is very comforting to Carrie Lam. At the same time, I would like to express my heartfelt thanks to all those who have worked hard to achieve this result.
Carrie Lam sent a message to colleagues to continue to work hard to promote the cancellation of the "hedging" supporting arrangement, and carry out extensive, simple and easy-to-understand publicity to help employers have a better understanding of the cancellation of the "hedging" arrangement and related supporting measures, so that all parties can be prepared.
Cancellation of hedging︱The Legislative Council voted for 72 votes, 5 votes against Shao Ka Fai: letter to the Council can still express its opinion to cancel the MPF hedging Third reading Liang Ziying said to correct the system error: unscrupulous employers first earn as much as possible to cancel the hedging ︱ Luo Zhiguang said that it is historic: The economy must be up and down. Carrie Lam thanks the mutual understanding of labor and management for cancelling the hedging｜Law Zhiguang: The burden only accounts for 0.35% of the operating cost, and it is easy to adapt to the rent increase