Boosting Retirement Savings with Voluntary Contributions and Challenges in Exports

This chapter discusses the advantages of making voluntary contributions to MPF accounts for retirement savings. It explores how starting contributions at a young age can significantly impact the final fund amount and highlights the increase in MPF accounts since the launch of tax deductible voluntary contributions in 2019. The chapter also touches on the government's plan to increase tax deductions for voluntary MPF contributions made by employers for staff aged 65 and above, along with Financial Secretary Paul Chan's response to speculation about tax increases and the challenges faced by Hong Kong in exports.