Yes, the MPF is a SCAM; Think about it, we are forced to pay into this thing, we do not have a choice, we cannot say no, it is not an option, it is Mandatory !!
Now, if the Hong Kong Government's intention for this was to actually provide for its citizens retirement, then, as a bare minimum it should:
~ Guarantee the principle contribution amount at retirement age. i.e. if we're being forced to give them 2k per month, meaningless as it would be, we still want this minimum back !!
This would actually be something of value and would show that the HK Government was actually honestly trying to provide for its citizens through effective risk management for Mandatory investments.
You see, if this was suggested to the HK Government, oh wow, there would so many, no ways, impossible, we'd have to provision for blah, blah, blah etc... Simply proving that it has zero intention of actually seeking to provide for its citizens retirement AND also proving that this is a scam through demonstrating their confidence levels in its performance. If they believed it would work, this would not be a problem.
They are simply using this MPF Scam as an opt out of any accountability, commitment or contribution by diverting all responsibility to the people keeping them in their jobs without actually doing anything at all towards serving the public interest.
Hmm, time to get a job in the Government, I know in most countries its better to be unemployed rather than being tarred as a civil servant, but here, if you're in the clan, you get all sorts of freebies, housing subsidies & stuff, you get paid far above the rate for your station, you can't be made redundant AND, this is classic, you won't be forced to pay anything to MPF, you contribute to the Government Pension Scheme....great stuff...