Hong Kong’s proposed tax break of US$7,650 will encourage additional retirement savings, say top pension providers

//Hong Kong’s proposed tax break of US$7,650 will encourage additional retirement savings, say top pension providers

Hong Kong’s proposed tax break of US$7,650 will encourage additional retirement savings, say top pension providers

Hong Kong’s biggest pension players – HSBC, Manulife, Prudential and AIA – said the government’s proposed law change to offer up to HK$60,000 (US$7,650) in tax incentives will encourage additional savings for retirement.“This is the first time Hong Kong is using tax incentives to encourage voluntary retirement contribution,” said Edward Moncreiffe, chief executive of HSBC Life (International).He said that Singapore saw an increase in voluntary pension contribution after tax incentives were…

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By | 2019-03-19T00:00:07+00:00 March 19th, 2019|Business|Comments Off on Hong Kong’s proposed tax break of US$7,650 will encourage additional retirement savings, say top pension providers