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Stephen Sui hails MPF feat

June 26, 2017

The Government has made an interim achievement on scrapping the offsetting of severance payments or long-service payments with Mandatory Provident Fund contributions.

 

Making the statement to the media today, Secretary for Labour & Welfare Stephen Sui said the Government’s proposal to scrap offsetting will help the next-term administration move forward with the issue.

 

He noted employers and employees have their own stances on abolishing the offsetting arrangement. However, what the Government has put forward is a finely balanced tripartite solution under which all three parties must make concessions, he said.

 

"I think all these developments, or I would say it is an interim achievement, would help the next term government to take forward the issue more quickly and easily."



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