Employee Choice Arrangement will soon be implemented. Nevertheless, Fidelity found that around 75% of Hong Kong people have not much idea about the details of the arrangement while 41% of the residents polled said they would try to understand the plan through the internet, families or friends in a survey, which reflects Hong Kong people lack knowledge about the new Mandatory Provident Fund plan.
Besides, the index for Hong Kong people's readiness for retirement slipped to 50.2% in 2012 from 2010's 54.42%. Luk Kim Ping (陸劍平), head of corporate business at Fidelity, said the index fell 3% while more conservative investment strategies were adopted, leading to a fall in the sum for retirement .
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