The Hospital Authority in Hong Kong is preparing to send requests for proposals RFPs to investment consultants to assist it with a review of its fixed income and currency strategy for its $2.5 billion MPF-exempt ORSO pension scheme.
Winnie Pao, director of investment supervision, says the programme has been transformed to a members' choice scheme as of 1 October. Before, although the plan has always been defined-contribution, the Authority offered only one fund to the approximately 39,000 members. The pension fund's trustees felt that a members' choice was required in part because older members were concerned about a high equities exposure as they neared retirement.
She made her remarks...
