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<HK Home>On LegCo Members' Proposal to Use MPF for Home Purchases, Paul Chan Says Policy Goal is Retirement Protection
While Legislative Council (LegCo) members recently proposed to allow citizens to apply their Mandatory Provident Fund (MPF) for home purchases, Financial Secretary Paul Chan made a...
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<HK Home>On LegCo Members' Proposal to Use MPF for Home Purchases, Paul Chan Says Policy Goal is Retirement Protection
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While Legislative Council (LegCo) members recently proposed to allow citizens to apply their Mandatory Provident Fund (MPF) for home purchases, Financial Secretary Paul Chan made a response at the Budget press conference today, saying that the primary policy goal of establishing the MPF is to ensure retirement protection.

The HKSAR Government is pleased to see the residential real estate market develop steadily, despite fluctuations, the Secretary said. Coupled with the fact that individuals amass different amounts under the MPF scheme, Chan deemed it inappropriate to make adjustments at this stage upon comprehensive consideration, allowing the MPF to continue serving as an important pillar for retirement.

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