Retirement is every employee’s goal. It may seem a bit counterintuitive to work so that you can stop working to some, but in this day and age, it is the best and most assured way to ensure that when you do stop working, you are taken care of. No one wants to retire with little next to nothing left in the bank with which to fall back on. Because when you retire, you do not stop living. Quite the contrary, you no doubt have plans to do much when you do retire. So you may be considering getting a Hong Kong provident fund. But as with any type of investment, there are some things that you should know about your potential provident fund investment that could very well affect your decision.
A Big Down Side to Your Future
With mandatory provident fund systems, there is a very prominent down side; you may not be able to access the fund for at least three years. That is right, in most cases; you have a great chance that your Honk Kong provident fund will be locked for a minimum of three years. So why is this? The Employee’s Provident Fund Organization (EPFO) is considering a bill to lock employee mandatory provident fund systems for a minimum of three years. This means that during those first years, you will have literally no access to the funds that you have invested.
Now, this can be seen in one of two ways. The first way, obviously, is the negative. Many people set up mandatory provident fund systems to save money for their future. However they also use these funds, in some cases, when emergencies occur. The funds within can be accessed and used to cover things such as emergency medical bills, or car repairs; anything that is completely unexpected. However on the positive side, this can be a tactic that help impulse buyers or those with a sometimes weaning ability to save do just that; save for their future.
What You Need to Know: All the Tools You’ll Ever Need for Investment
FE Trustnet Hong Kong is aimed at providing independent information on mutual funds and MPFs to Hong Kong investment professionals and private investors. We offer over 2,000 local funds, and a suite of powerful tools designed to identify the best investment funds for your needs. With FE Trustnet, you will have everything at your disposal that you require in order to make a smart and lasting investment that will positively impact your future. Whether your dream is to one day travel the world, or maybe start a hobby or write a book, there is no doubt you will need a solid retirement fund to do it. With our premier source of retail investment fund information, and a free suite of over 2000 local funds and powerful tools designed to identify the best investment funds for individual’s needs, we promise you, your retirement dreams will be realized.