Secretary for Labour & Welfare Matthew Cheung says the Government will try its best to propose the way forward on the question of the offsetting arrangement for the Mandatory Provident Fund by the end of the current administrative term.
Mr Cheung spoke to the media after attending the presentation ceremony for the Good MPF Employer Award today.
He said the offsetting arrangement undermined the role of MPF as a retirement protection pillar in Hong Kong.
The reality that there are many small and medium enterprises in Hong Kong has to be considered, he added.
"We are committed on that score to coming up with variable options which will balance the interest of employees on one hand and, at the same time, the affordability of employers on the other.
"We will certainly do our best before the end of our term, hopefully to come up with policy directions on the way forward on the question of offsetting."
