Question on optimizing MPF withdrawal mechanism by KP Chan: Since inception of the MPF system on 1 Dec 2000 and up to 31 Dec 2010, despite undergoing two financial crises in the last 10 years, the annualized average rate of return after deduction of fees and charges is 5.5%, whereas the increase of the annualized …
Council Meetings (Oral Question): Optimize MPF Withdrawal Mechanism（2011.03.16） Read More »
KP Chan on approval of structured products by SFC: The Deputy Chairman [KP Chan] remarked that some relevant parties had expressed concern that the process for SFC to authorize the issue of structured products had taken a long time, on an average of about nine months, after the Lehman Brothers Minibonds Incident. The Deputy Chairman …
Approval of Structured Products by SFC（2011.03.07） Read More »
Speech of the Hon KP Chan on Moving Member’s Motion on Promoting Education in Personal Wealth Management (Synopsis)
KP Chan on MPF Review of Minimum and Maximum Relevant Income Levels: 1. There is a general feeling that the MPF alone is not sufficient for retirement purpose. One main reason is that the MPF contribution rates and the Max relevant income level (HK$20,000) are too low. Therefore the proposed increase of the Max relevant …
Motion on “MPF Review of Minimum and Maximum Relevant Income Levels”（2011.02.21） Read More »
Hon KP Chan on increase in accidents related to repair, maintenance, alteration and addition works: Hon CHAN Kin-por expressed deep concern about the increase in the number of accidents related to Repair, Maintenance, Alteration and Addition (“RMAA”) works. He considered that to ensure RMAA works contractors’ compliance with relevant safety legislation, the Administration should conduct …
KP Chan on Mandatory Building Third Party Liability Insurance: For a compulsory legal requirement that affects tenths of thousands of buildings, there is bound to be a certain amount of confusion during the initial enforcement stage. With both the Hong Kong Federation of Insurers(HKFI) and Government devoted a lot of time in issuing guidelines, issuing …
Question by KP Chan on Courses for the Insurance Industry under the Skills Upgrading Scheme Plus at the Legco Meeting on January 12 Question: Since December 2009, the insurance courses in the Government’s Skills Upgrading Scheme have been taken over by the Employees Retraining Board (ERB). There is information indicating that before ERB took over …
Speech of the Hon KP Chan to Move Amendment to the Motion on Comprehensive Review of the Mandatory Provident Fund at the Legislative Council on December 1st: It has been 10 years since the launch of the Mandatory Provident Fund (MPF). For 10 years, the MPF has also been a subject of controversy regarding high …
Motion on “Reduce MPF Operating Costs and Review Contribution Rate”（2010.12.01） Read More »
KP Chan on treatment of benefits from mandatory contributions in case of bankruptcy of MPF Scheme member: The Deputy Chairman [KP Chan] enquired whether the MC accrued benefits of a scheme member would be affected if he declared bankrupt at the time when he was eligible for drawing out his MC accrued benefits from the …
Speech of the Hon KP Chan on the Motion on Reviewing Coverage of Safety Net (Synopsis)
