HK urged to boost retirement schemes with tax breaks

The Hong Kong government has been urged to learn lessons from Japan’s new tax-free retirement system in order to encourage greater retirement savings. The city’s funds association has called for new tax incentives to be introduced in order to boost savings for retirement, with many members of the public ill-prepared for old age. But a survey shows much of the Hong Kong population to be wary of such schemes, with fears of poor returns uppermost in their minds. Tabling a new ret…