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The following is issued on behalf of the Mandatory Provident Fund Schemes Authority:
The Mandatory Provident Fund Schemes Authority (MPFA) today (February 23) said it would work closely with the Government on the proposed injection just announced by the Financial Secretary in the 2011-12 Budget speech to ensure its prompt and smooth implementation. Under the proposal, the Government would make a one-off injection of $6,000 into the MPF accounts of all MPF scheme members and members of occupational retirement schemes (ORSO schemes) covered by the Employment Ordinance of Hong Kong as of today.
An MPFA spokesperson welcomed the Government's proposal, which is believed to be able to further enhance the retirement benefits of MPF and ORSO scheme members.
The spokesperson added that the MPFA would work closely with the Government on the implementation details of the injection. Detailed arrangements will be made known to the public through various channels after funding for the injection proposal has been approved by the Legislative Council.
Ends/Wednesday, February 23, 2011
Issued at HKT 17:11
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