CONFIDENTIAL #Z
機密
3
Mandatory benefits should be fully portable between all schemes at the request of the employee.
Transfers should be between schemes payments should not be made to employees.
Projected Retirement Benefits
Outcomes are very sensitive to assumptions.
On reasonable assumptions regarding long term returns from the various asset classes, an adequate retirement income can only be achieved with significant equity This is because the negative deposit interest rates and high inflation
Hong Kong are expected to continue, making less volatile investments
(e.g. bonds) unprofitable.
exposure.
in
Retirement benefits are significantly higher at age 65 than at age 60 for employees joining the system at the same age. For this reason a retirement age of 65 is recommended.
The RPS will not be fully mature for 30-40 years after inception. This is a feature of self-funded systems and would apply equally to a CPF.
CONFIDENTIAL ##
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