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HK finance professionals call for fair employment policies


A Hong Kong Securities and Futures Professionals Association survey has found that three out of five local financial services professionals feel discriminated against in terms of wages and promotions. The April survey, which included 109 industry professionals, discovered that 80% believed government labour and welfare policies neglected locals' rights. Approximately 60% reported wage and promotion discrepancies between local and non-local employees, with 88% urging the government to adopt policies like Singapore to increase local employment opportunities. In response to the Mandatory Provident Fund (MPF) review, Secretary for Labour and Welfare Chris Sun Yuk-han announced a platform for employers to apply for a 25-year, HKD33.2bn subsidy scheme. The MPF offsetting mechanism will be abolished on 1 May 2025, preventing employers from offsetting severance and long service payments against MPF benefits.

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