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Editorial : Abolition of MPF offsetting scheme

【明報專訊】THE policy address will be unveiled next week, which is expected to include a new scheme for the abolition of the Mandatory Provident Fund (MPF) offsetting mechanism. The government is set to extend the subsidisation period for employers from 12 years to 25 years, with the amount of subsidisation boosted from $17.2 billion to around $30 billion. Given the fact that the new scheme will come into effect in 2022 at the earliest, the government will in effect be subsidising the business sector until 2047.

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