In Hong Kong, the amount contributed to the MPF, is currently capped at HK$1,250, or around US$161, a month, although that will rise to HK$1,500 in June of next year."The amount people can contribute to MPF is so small, I'm not sure it makes for a secure retirement," Bacci said, adding the small sums often either lead people to not manage it at all or to get too aggressive.For its part, MPF said it is reviewing whether to shift the default option to life-cycle or target-date funds for members who haven't made investment choices. Some of MPF's employer-based plans are offering around 28 target-date funds, with some already voluntary designating those as the default.
Singapore's CPF has cash as its default option. It is currently paying 4 percent on the retirement-designated, or "special," portion of the accounts, which represent about 6 to 9.5 percent of wages,Using social media as a networking tool
depending on the saver's age.The "ordinary" account, or the portion which can be used as a down payment to purchase a home, takes up the lion's share of contributions; it is only paying 2.50 percent per annum. Interest is only compounded annually.While CPF's savers have the option to move some of their funds into mutual funds, also known as unit trusts, approved by the investment plan, only local bank UOB has put its target-date funds, marketed as "GrowthPath," through the approval process.But savers must keep at least 40,000 Singapore dollars, or around $32,000, of the Special account in the cash option and can only invest funds over that amount.
State officials have launched an online service that's meant to help consumers get protection under the lemon law.Massachusetts residents who recently bought or leased a new or used vehicle that's defective may qualify for a replacement vehicle or a refund.The Office of Consumer Affairs and Business Regulation now has a series of questions on its website that walks consumers through the lemon law so they can find out if they qualify for relief.State officials say the survey tool directs customers who qualify to the paperwork they'll need to try to recoup the costs of an unsatisfactory vehicle purchase.The accelerometer motion sensors within most smartphones could potentially be used to track the web activity of individual device owners, it has been claimed.