Advocacy group urges Hong Kong to let residents tap pension savings for homes

A Hong Kong advocacy group has urged the government to let residents use a portion of their mandatory pension savings for home purchases, one of several proposals submitted ahead of the policy address later this month. The Federation of Public Housing Estates noted on Wednesday that recent cuts to administration fees for the Mandatory Provident Fund (MPF) – the city’s compulsory retirement scheme – would generate higher savings for its 4.8 million members, making this an ideal time to relax...