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- MPFA Chairman meets with young handicraft artisans (16 December 2022)
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MPFA Chairman meets with young handicraft artisans (16 December 2022)
With the increasing popularity of the gig economy in recent years, there is a growing trend among young people to be freelancers, or slashers, i.e. taking on many different jobs at the same time. While freelancers can enjoy a high degree of flexibility in their work, they are not entitled to MPF contributions and retirement protection provided by employers, as they are mostly self-employed.
MPFA Chairman Mrs Ayesha Macpherson Lau and MPFA colleagues last Friday (16 Dec) met with young handicraft artisans in a “Christmas Trial Market” to get their views on retirement protection and explain to them the importance of the MPF System and early retirement planning.
Mrs Lau said that young people should make good use of the power of time and start financial planning as early as possible. The design of the MPF enables them to establish disciplined saving habits and accumulate savings through the compounding effect.
