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In response to media enquiries, a spokesman for the Financial Services and the Treasury Bureau replied, "As stated in his Budget Speech, to increase the retirement savings of the members of the Mandatory Provident Fund (MPF) System and other occupational retirement schemes, the Financial Secretary, Mr John C Tsang, proposes to make a one-off injection of $6,000 into the MPF accounts of all MPF scheme members and members of occupational retirement schemes covered by the Employment Ordinance of Hong Kong as of February 23, 2011.
"The Government has earmarked $24 billion for this measure. The Financial Services and the Treasury Bureau will announce the details in due course."
The spokesman also confirmed that participants of the Grant Schools Provident Fund and the Subsidised Schools Provident Fund will be covered by the proposal.
Ends/Friday, February 25, 2011
Issued at HKT 21:03
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