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​Foreword

Recognizing Inspiring Achievements

on Financial Education

We are delighted to announce that the IFPHK Financial Education Leadership Awards (the “Awards”) are now in their third year. Building on the Awards’ tremendous success to date, we have decided to enrich their reach to meet a broader perspective, by appreciating firms that have propagated the tax incentive measures for the good of the public.

 

Hong Kong has once again been found to be the world’s most expensive city by The Economist Intelligence Unit Survey 2019. Nevertheless, over the past few years, the research report’s findings have shown that the majority of the city’s public is not setting aside enough funds for retirement. To act upon this issue, the HKSAR Government has rolled out a series of tax incentives for the workforce, such as the tax deductible MPF voluntary contributions (TVCs) and premiums paid for qualifying deferred annuity policies (QDAPs) and the Voluntary Health Insurance Scheme (VHIS).

 

 

Even so, there are a number of macroeconomic and microeconomic forces beyond our control that could potentially harm the financial wellbeing of the public. The variety of risks includes, among other things, the general mark-down of global economic growth, global trade war and geopolitical tension.

 

In these times of turbulence and ever-evolving policies, effective financial education serves as the golden key for strengthening the financial wellbeing of the public. The awareness of the importance of financial education is gaining momentum among policy makers and corporate leaders the world over. In fact, many of these leading individuals have already spearheaded and launched various advanced financial education initiatives.

 

We believe the Awards play an invaluable part by paying the most honorable tribute to properly recognize these unsung heroes and their inspiring achievements. At the same time, the Awards help draw even more attention to the importance of promoting sound financial education.

 

Only by being better prepared and educated will our community be able to confidently and resiliently navigate the bumpy road ahead.

 

Entries for the Awards are now open for application — join our ranks!

 

Dennis Lau

CEO, IFPHK