Retirement contributions do not often gain the attention they deserve.
Many employees are either unaware of, or simply ignore their MPF or ORSO Defined Contribution (DC) schemes. But with contributions ranging between 5% and 15% of their salary the amount of money going into, and accumulating in, retirement schemes is significant.
Simultaneously, many employers in Hong Kong are facing challenges with retirement schemes ranging from how to maximise benefits for employees and cope with an ageing population, to whether the retirement contribution will be sufficient to ensure the current workforce can retire comfortably.
At Mercer, we aim to shine a light on this often-undervalued employee benefit and mandatory government contribution, which is why we are conducting a large-scale Hong Kong Retirement Scheme Survey on MPF and ORSO DC schemes. This report seeks to address those concerns and go beyond the current state of the market to consider what best practice is and what opportunities exist for improvement.
Following up from the extremely well-received and insightful 2017 Hong Kong DC survey which included data from 89 companies across a broad spectrum of industries, this survey will build on the findings about MPF and DC schemes to look at how schemes and contributions are changing, particularly in light of global economic conditions.
Be part of our mission to Build a Brighter Future
Help us determine how to help employees in Hong Kong Build a Brighter Future (the title of our report), as we gather insights on developments in the Hong Kong retirement market. The report will ask questions affecting many employers in Hong Kong and cover hot topics such as innovative retirement scheme design, fee trends, post-retirement solutions, flexible retirement age, tax-deductible voluntary contributions, ESG, LSP offset and the impact of COVID-19.
Going beyond the obvious
Mercer’s thorough, statistically valid research aims to go beyond the obvious and take an in-depth look at the future and how to safeguard it, which is why the report won’t just include highlights and key findings, but will also focus on market movements as well as strategy and planning. You will also find in-depth analyses of topics including scheme design, investment management, provider services and fees.
Share your opinion and be rewarded
All those choosing to participate in the survey will receive a free copy of the report containing the key findings.
To participate in the survey, please request for a copy of the questionnaires here.