Hong Kong\u2019s pension scheme improved its overall adequacy, sustainability and integrity over the past 12 months, rising from a C+ grade to a B \u2013 equal to schemes in some European countries but still trailing Singapore\u2019s \u2013 according to a report released on Wednesday.<\/p>\n
The HK$15 trillion (US$192 billion) Mandatory Provident Fund (MPF) scored 70.6 points out of a \u00adpossible 100 in the annual Mercer CFA Institute\u2019s Global Pension Index, up from 63.9 last year.<\/p>\n
The programme now holds the third-best grade worldwide, tied with the retirement schemes in Belgium, France, Germany and Switzerland. The report has seven grade levels: A, B+, B, C+, C, D and E.<\/p>\n
Mercer said the MPF recorded the largest improvement among all Asian schemes, rising thanks to \u201ca member-centric approach that emphasises sound investment strategies and robust risk management\u201d.<\/p>\n
The index, in its 17th edition, rates 48 retirement schemes worldwide based on how well the plans cover people\u2019s retirement needs (adequacy), whether they can continue to deliver over time (sustainability), and how trustworthy they are (integrity).<\/p>\n
Hong Kong\u2019s scheme scored 89.2 points for integrity, well above the global average of 75.4 and behind only Finland at 90.6 and Singapore at 90.4.<\/p>\n","protected":false},"excerpt":{"rendered":"Hong Kong\u2019s pension scheme improved its overall adequacy, sustainability and integrity over the past 12 months, rising from…\n","protected":false},"author":2,"featured_media":213862,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[103729,5806,5189,45,49,48,133,637,10816,103730,15674,3845,68664,103731,68666,131,132,3849,4935,834,86442],"class_list":{"0":"post-213861","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-adequacy","9":"tag-asia","10":"tag-belgium","11":"tag-business","12":"tag-ca","13":"tag-canada","14":"tag-finance","15":"tag-france","16":"tag-germany","17":"tag-global-pension-index","18":"tag-hong-kong","19":"tag-malaysia","20":"tag-mandatory-provident-fund-schemes-authority-mpfa","21":"tag-mercer","22":"tag-mpf","23":"tag-personal-finance","24":"tag-personalfinance","25":"tag-singapore","26":"tag-sustainability","27":"tag-switzerland","28":"tag-voluntary-contributions"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/213861","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=213861"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/213861\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/213862"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=213861"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=213861"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=213861"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}