Published:
MPF injection to benefit 4 million
The proposal to inject $6,000 into each Mandatory Provident Fund account will leave wealth with the people, said Secretary for Financial Services & the Treasury Prof. KC Chan.
He added that the measure will benefit more people than a tax rebate would.
Prof. Chan said the average return on investment of MPF schemes are satisfactory and there are measures and policies to encourage MPF trustees to reduce administrative fees. He expected 4 million Hong Kong people to benefit from the proposed injection.
Noting there are only 1.4 million taxpayers in Hong Kong, he said a tax rebate would only benefit a limited number of people.
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