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會長致辭

一九九O年,我見證香港工商專業聯會的誕生,深感欣慰。工商專聯是由提出「八十九人方案」的基本法諮詢及起草委員所創立,亦是香港智庫的先驅。創會以來,我們一直為香港的安定繁榮而努力。與西方民主國家的情況一樣,智庫在香港政策制訂過程中發揮日益重要的作用。
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主席致辭

工商專聯為獨立智庫,既非政黨,亦無派別之見;以香港整體利益為依歸,不以個別界別的利益為念。我們研究與香港息息相關的議題,對政制改革、醫療改革、最低工資以及擴濶稅基等具爭議的議題,亦不諱言避談。

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致南華早報信函 (2017.7.14)
2017-07-14

工商專業副主席業榮達先生就退休保障發表以下意見, 南華早報於2017.7.14刊登。(只提供英文版)

Jake’s views on MPF are hard to understand

In his column (“High management charges are the real weakness of the MPF”, July 2) Jake van der Kamp responded to my letter on behalf of the Business and Professionals Federation (BPF) on Mandatory Provident Fund offsets (“MPF reform a welcome move from C Y Leung”, June 29).

On three occasions, he referred to “Mr Apps’ former employer Manulife”, as he attacked the MPF’s high management fees. The implication was that I have been influenced in this matter by Manulife, which I left 10 years ago. If van der Kamp has any previous employers, perhaps he should mention them in his column.

My experience with Manulife’s MPF business in Hong Kong does however give me knowledge about the mechanics of that business. I know that van der Kamp’s assertion that Manulife and other providers made no investment in the business is absurd. Who does he think paid for the development of the complex MPF administration systems if it was not the providers?

Van der Kamp’s comments on eliminating the offset are difficult to understand. BPF on the other hand supports the elimination because the current system results in many workers not benefiting sufficiently from the MPF. It is as simple as that.

Also, if van der Kamp had read the BPF paper on retirement protection, he would have found that we agree with him that MPF fees need to come down.

Unlike your columnist, the BPF has made specific proposals on MPF fees in its paper “The Way Forward for Retirement Protection in Hong Kong”. We recommend in that report that average fees should be reduced by a third in the next three years. Also we propose that MPF providers should have their average expense charges published widely by the MPF Authority. We also support the MPFA’s new core fund that enables employees to cap their fees at 75 basis points. All employees must be made to understand that they now have this low-cost option.

By eliminating the offsets and driving down fees, the MPF can start to look like the top quality pension system that Hong Kong deserves.

Victor Apps, chairman, BPF Study Group on Retirement Protection, Business and Professionals Federation of Hong Kong