"Hong Kong Property" responds to lawmakers' proposal to use MPF for property purchase. Chan Mo-po: The policy goal is to ensure retirement security

Regarding the earlier suggestion by some Legislative Council members to allow citizens to use their Mandatory Provident Fund (MPF) for property purchases, Financial Secretary Paul Chan stated at the press conference for the Budget that the most important policy objective of establishing the MPF is to ensure retirement security. The Hong Kong Special Administrative Region government welcomes the stable development of the residential real estate market, but there may still be fluctuations; at the same time, individuals accumulate different amounts under the MPF scheme. After comprehensive consideration, it was decided not to make any adjustments at this stage, allowing the MPF to continue serving as an important pillar for retirement