Kang Hong: MPF may cause a double burden of home ownership

As for the proposal of earnestly withdrawing MPF contributions for the first phase of home ownership, Kenneth Kenneth, CEO of Convoy Financial Services, said in principle that the public is reminded of any turnaround in the property market and part of the retirement protection scheme has to be repayable. A double burden.

Hong Hong Kong MPF Business Development Director Chung Kin-keung added that the government should set a minimum limit for the balance of MPF contribution so that members do not make any contributions to buy a flat. However, the average per-capita balance of the MPF account is about $ 170,000. Taking the current property prices as an example, It is not helpful to buy property materials by MPF.

Convoy Financial conducted an opinion survey on the MPF (DIS) from September to October this year. Of the 810 respondents, 80.1% of respondents did not choose DIS and 45% did not believe DIS would choose more than they chose The fund has better performance.

Bacheng wage earners did not choose DIS

Sin Kin Min believes that the DIS launch time is still short, Hong Kong people are not yet confident enough, and hopefully more performance data for reference, the public gradually change the concept. He also appealed to all MPF trustees and the MPFA to make good use of the electronic platform to facilitate members of the public actively managing their accounts.

Hong Hong statistics from the beginning of the year so far Hong Kong Equity Fund returns 36.45%, Greater China Equity Fund was 36.53%, Asia (except Japan) Equity Fund performed best, up 37.33%. More than 54% of the respondents in the survey chose equity funds and most of them focused on Hong Kong stock markets. 70% of respondents indicated that they will not transfer positions in the next year.

Zhong Jianqiang pointed out that this year the global stock market is well established and the Hong Kong stock market is especially good. However, members of the public should review the investment portfolio for at least six months or so and diversify their investment next year. For example, they should choose Asia (except Japan) equity funds and remind them to step into the rate hike cycle. Insurance or discount.