MPF offsetting is a major task

(December 18, 2017)

The Government is striving to put out the new proposal for the offsetting of severance payments or long service payments with Mandatory Provident Fund contributions as soon as possible.
 
Speaking to reporters tonight, Chief Executive Carrie Lam said working out an offsetting arrangement will be a major challenge for the Government next year.
 
She said it is unlikely the new arrangement can be drawn up by the end of this year due to the complicated calculations involved, but she hopes to introduce the new plan as soon as possible next year.
 
Mrs Lam also said the Government will have to meet three major legislative challenges in 2018.
 
They include starting the local legislative process to implement the co-location arrangements for the Guangzhou-Shenzhen-Hong Kong Express Rail Link, passing the 2018 Appropriation Bill, and enacting the National Anthem Law of the People's Republic of China in Hong Kong.