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Pension & Employee Benefits Committee



Chairperson

Mr. Gary Lee

Sun Life Hong Kong Limited


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Welcome to the Pension & Employee Benefits Committee of the ASHK. We serve as a platform for pension actuaries to share ideas and knowledge, review the solvency requirements for defined benefit schemes in Hong Kong including Professional Standard, discuss and suggest the changes to the Hong Kong's old age security system and work on social functions providing CPD for actuaries working in retirement benefits.

 

Besides, we maintain close liaison with local regulators and professional bodies, making submissions and responding to consultation opportunities in relation to the issue of retirement schemes benefit.


Last Year Contribution:

  • Refreshed the pension local exam syllabus to include recent development of local annuities market

  • Conducted and published the results on an industry survey to better understand the practice of actuaries in performing pricing analysis for group medical insurance. In particular, this market has been struggling for long term profitability for many years, so the Committee will further explore the potential to create a guidance note with the aim of enhancing the long term sustainability of this market.

  • Continue to follow up and respond to other related industry developments including the abolishing of the offset mechanism for MPF.

Future Events by Pension could also be promoted here:

The inaugural Hong Kong Actuarial Summit 2020 is scheduled to take place in 25-26th Nov 2020. The pension track of the program will include panel discussions on “Sustainability of MPF”, “Longevity Risk” and “How to Prepare for your Retirement Needs”. We look forward to meeting and discussing these topics with all relevant industry professionals.

Latest update:

  • Riding on the industry survey on Group Medical Pricing from 2019, the Committee has setup a working group focusing on developing a guidance note on this topic with the aim of enhancing the long term sustainability of this market.

  • The Committee has also setup a working group to refresh the market study on MPF Market Size Projection.

No Information Yet.