Still, is the MPF so bad that it should be scrapped?
In May, the South China Morning Post published a letter from a reader who wrote to say that Hong Kong’s Mandatory Provident Fund should be abolished as “it has failed on multiple levels from the perspective of ordinary citizens.” Replace it with a universal basic income, he suggested.
Hong Kong was recently graded C+ in the Mercer CFA Institute Global Pension Index 2022. Being in the same category with the US, France and Spain means that MPF has “some good features, but also has major risks and/or shortcomings,” the study noted.
