英譯概念：Retirement protection

【明報專訊】In the 2021 Policy Address, it was proposed the government would further explore ways to better encourage citizens to convert the one-off assets under their MPFs into an annuity that can be received regularly after retirement. Law Chi-kwong, the then Secretary for Labour and Welfare, pointed out in October 2021 that it was time to review the public annuity plan, and the possible avenues would include encouraging citizens to convert part of their MPF into an annuity. The practice for current civil servants, who can receive up to 25% or 50% of the pension, would be looked at, while the remainder could be converted into an annuity. Law emphasised that it was not feasible to make the conversion into MPF mandatory.