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Law stopping Hong Kong bosses from raiding MPF funds to cover staff payment obligations is too little, too late, critics argue

Labour expert notes new protections will not bring much benefit to older workers, while business owners complain of extra financial burden. ....

Hong Kong , Offsetting Mechanism , Retirement Protection , Abour Rights ,

Detailed text transcripts for TV channel - MSNBC - 20140129:19:22:00

I.r.a., retirement protection for the many who don t have that. what type of numbers do we know that people would be impacted by this? you know, i m not sure what the actual number in terms of millions are. i mean, it s clearly the case in the past ten years as company after company have abandoned what, you know, used to be defined contribution pension plans and have led to the rise of the 401(k), individually directed retirement, you have something like more than half of americans facing retirement with zero savings whatsoever. this is a substantial issue in the absence of any cushion into retirement. and obviously that plays in this huge burden on social security, on medicare on families. and, you know, this is an attempt, i think, to begin to address what s going to happen in the future because what you ve really seen in the past 10 or 15 years is most of the kind of 20th century traditional guarantees for retirement have largely evaporated except, of course, for social security. ....

Who Don T , Retirement Protection , Contribution Pension Plans , Social Security , On Medicare ,