Borrison/hk-legicost huggingface dataset:
主席，"強迫金"蠶食巨額供款，我相信除了陳健波議員外，在座每位議員和很多市民對此都沒有爭議。
President I believe that except Mr CHAN Kin - por every Member sitting here as well as the people out there will not dispute that large amounts of the Coercive Provident Fund have been eroded
代理主席，陳健波議員在1月23日不點名批評，但對號入座的是我。
Deputy President Mr CHAN Kin - por made a criticism on 23 January without naming a person but his criticism aimed at my pigeon hole
他說基金經理有做工夫，基金表現不能單看一年，要中肯一點，引用數據要準確一點，不要總是跟外國比較，而他所指的是新加坡。
He said that fund managers had done work that performance of funds cannot be judged by looking at just one year and that we need to hit the mark be more accurate when citing data and refrain from always comparing with a foreign country―what he meant was Singapore
代理主席，對於在座議員也好，外面坊間的評論員也好，陳健波議員在今天再次強調所謂以訛傳訛，人云亦云時所針對的對象，可以說是侮辱所有議員和其他所有評論員。
Deputy President to the Members sitting here and to the commentators in the community the target of Mr CHAN Kin - por today and when he stressed again the so - called phenomenon of people relaying erroneous messages and echoing the views of others it can be viewed as an insult to all of them
代理主席，看回數據，我們看到強積金市場近七成是投資在股票市場，陳議員在修正案中提到2017年強積金回報達22.3%，當年的而且確是豐收年；但再看看同年的恒指升幅是多少？
Deputy President coming back to the data we see that almost 70 % of the MPF contributions are invested in the stock market . In his amendment Mr CHAN mentioned that MPFs rate of return in 2017 was 22.3 % ―and indeed that year was a year of good harvest but look at how much the Hang Seng Index rose in the same year
大部分回報較好的基金不是依靠池塘裏基金管理人的表現、眼光獨到或挑選精明，不是靠他們幫我們選擇好的股份，大部分回報好的都是主力投資在類似盈富基金這類被動式指數基金，這是非常諷刺的一點。
Most of the funds that yielded better returns did not rely on the performance of fund managers in the pool on their unique insight or wise choices or on their help in selecting good stocks for us; most of the funds that yielded good returns came from investments mainly made in passive index funds like the Tracker Fund of Hong Kong . This is a most ironic point
代理主席，我當然很接受陳健波議員的建議，他說擔任議員，長遠來說，需要精準、要公道、要講事實，否則便"唔襟玩"，這是他用的字眼。
Deputy President of course I accept Mr CHAN Kin - pors suggestion . He said that to serve as a Member we must be accurate fair and tell the truth in the long run otherwise we will not last long―these are the words he used
他3次批評我我再次對號入座，我認為他是批評我不過，我奉勸陳健波議員一點，我也曾擔任功能界別的代表，在我擔任功能界別代表的4年，我希望亦相信我從未在客觀上被批評只顧業界利益而不理公眾利益。
He criticized me for three times―again I find that his criticisms aimed at my pigeon hole and I think that he was criticizing me―but I have a piece of advice for him . I have also served as a representative for a functional constituency and during the four years when I served as a representative for that functional constituency I hoped and I also believed that as a matter of fact I had never been criticized of caring about only the interest of the sector I represented and ignoring public interest
我希望陳健波議員引以為鑒，因為我相信我要面對的市民、我要面對的投票者、我要面對的責任，是要更加準確、更加公道、更加講事實，較陳健波這些有時不需要競選的議員所要面對的，後果更為嚴重。
I hope Mr CHAN Kin - por can draw reference from this because I believe I need accuracy fairness and truth all the more to face the people the voters and my responsibility; what I face is a more serious consequence that does not have to be faced by the Members who sometimes need not contest in elections such as Mr CHAN Kin - por
代理主席，中國人其實十分懂得儲蓄，也十分懂得積穀防飢，當中可能少於10%的人真的是吊兒郎當，即使叫他們做甚麼準備退休，他們也不會理會；但九成多的市民會自發性地儲蓄，為自己打算。
Deputy President the Chinese people are good at making savings . They know very well how to store up grain against a lean year and among them perhaps less than 10 % are careless and casual who would not listen even if you ask them to do something to prepare for retirement . But more than 90 % of the people would start making savings on their own and make plans for themselves
中國人更是十分孝順，他們懂得供養父母，不需要政府立例強迫他們供養父母。
The Chinese people are known for their filial piety; they will support their parents and do not need the Government to enact laws to compel them to do so
所以，我希望為市民爭取自由空間，可以有更多的選擇，令大部分的市民不需要因極少數的市民或如陳健波議員所代表的業界而把他們的自由度和選擇犧牲，被迫選擇一些收費高而回報低的"強迫金"。
Therefore I hope to strive for freedom and space for the people so that they can have more choices and that the majority of them do not have to sacrifice their freedom and choices and be forced to choose some coercive funds with high fees and low returns due to a handful of people or to the industry that is represented by a Member like Mr CHAN Kin - por
代理主席，我今次只是希望再次利用這機會，向市民提供一個選擇，讓市民有選擇的自由。
Deputy President I only wish to take this opportunity again to provide the people with a choice and allow them the freedom of choice
政府不應只着重面子，這麼多年來，面對這麼多批評，而且在計算方面，也只是本着所謂的精英心態，沒有真正為市民的"荷包"着想，強迫市民在這麼"爛"的制度裏生存。
The Government should not only consider the matter of face . Over the years it has faced with so many criticisms and it made calculations only in terms of the so - called elitist mentality without considering the wallets of the people while forcing them to live with such a broken system
即使政府不取消強積金，但最低限度也要大幅度增加選擇和自由，這才是真正負責任、面向市民，而不單是面向一個業界的議員的立場。
Even if it does not want to abolish MPF it should at least drastically increase choices and freedom . Only by doing so can it really become responsible and face the public instead of facing just the position of a Member representing an industry
首先，感激同事提出這項關於過渡性房屋的議案。
Firstly I am grateful for our colleague in moving this motion on transitional housing
問題如此迫切，單是輪候公屋也要5.5年時間，現在只是要求在過渡期內為輪候人士提供安身之所而已，連這也做不到，難怪政府一次又一次令香港市民失望。
The problem is so imminent just the waiting time for public housing is 5.5 years we just request the provision of accommodation for people on Waiting List during the interim period now even this cannot be achieved no wonder the Government has repeatedly let the Hong Kong people down
其次，社會的一大共識是政府應設有專項基金，處理過渡性房屋的供應。
Secondly a major consensus for the community is for the Government to set up a dedicated fund to handle the provision of transitional housing
這基金並非從天而降，因政府去年也成立了處理閒置用地的基金，撥出10億元翻新廢置校舍。
The fund does not descend from heaven as the Government had set up last year the fund for disposal of idle sites allocating 1 billion for renovation of abandoned school premises
儘管在1年前仍未有很具體的安排，但短短1年之間，發展局便成立了一個基金，最低限度今年已略有所成，令一些廢置校舍得以翻新，以供一些文化團體或拯救動物組織使用。
Notwithstanding that no concrete arrangement was available a year ago the Development Bureau had set up a fund shortly within one year and there are at least small achievements in current year which enable some abandoned school premises to be renovated for use by cultural bodies or animal rescue organizations
相當諷刺的是，香港的房屋政策成為他們之間的第三者。
Quite ironically the housing policy in Hong Kong has become the intruder in their relationship
這故事確實悲 涼，因為他們的要求很簡單，所謂"修身，齊家，治國，平天下"，當人們連修身和齊家也做不到的時候，還能如何面對未來？
The story is indeed sad . Their request is very simple we talk about cultivation of moral character settlement of ones family affairs proper governing of the country and maintenance of universal peace . When people fail to cultivate his moral character and settle his family affairs how can they face the future?
試看新加坡，當地的組合房屋政策其實是抄襲香港的公屋政策，但卻青出於藍，真正做到每位新加坡人均享有一片新加坡的土地，增進新加坡人對國家的歸屬感。
Take a look at Singapore the housing policy in Singapore has been copied from the public housing policy of Hong Kong but the former has outperformed the latter really achieving the possession of a piece of land in Singapore for every Singaporean to increase the sense of belonging among the Singaporean towards their country
說到底，一切視乎政府的決心，我希望政府今天就能給予確切的回應。
After all it all depends on the determination of the Government . I hope that the Government could give us a definite response
主席，何君堯議員提出的"活化強制性公積金"議案是很多"打工仔"關心的議題。
President the motion on Revitalizing the Mandatory Provident Fund moved by Dr Junius HO is a subject that many wage earners care about
聽起來，其用意是好的，但實在有違強積金的原意，因為強積金並不是醫療保險，而是為"打工仔"的退休生活而進行的強制定期儲蓄，令他們晚年有一定的退休儲蓄保障。
This sounds good and is well - intentioned but it defeats the original intent of MPF because MPF is not medical insurance but a mandatory and fixed - term savings programme for retirement protection of wage earners who would then enjoy a certain degree of protection in their later years because these retirement savings
此外，香港的強積金供款額非常低，有別於鄰近地區，其供款額是工資的30%，我們勞資雙方合共供款10%。
Moreover the required amount of contribution in Hong Kongs MPF is very small . Unlike neighbouring regions such as Singapore that requires 30 % of ones wage we require contributions from both the employee and employer to 10 % of ones wage in total
在這麼少的供款額下，不論用作購買醫療保險，或如謝偉俊議員的修正案所述，用作首次置業首期，均會大大削弱強積金原有制度的成效。
Such a small amount of money from the contributions when taken out to purchase medical insurance or pay the down payment for a starter home as advocated by Mr Paul TSE in his amendment to the motion would greatly undermine the effectiveness of the MPF System
正如我們一向也反對強積金與遣散費及長期服務金對沖的原因一樣，現時強積金最大的問題是甚麼？
We have always opposed the offsetting of long service payment and severance payment against MPF contributions and for the same reason we take issue with the biggest problems of MPF today . What are those problems?
昂貴的收費包括行政費及基金的管理費。
High fees include administrative fees and management fees
因此，我的修正案 的重點，是透過根本改善強積金制度的不足，從而加強對"打工仔"的退休保障。
In the light of this the thrust of my amendment is to radically improve the MPF System by getting at the root of its inadequacies thereby strengthening retirement protection for the wage earners
這是完完全全不合理、不公平及不公義的機制。
This arrangement is utterly unreasonable unfair and unjust
雖然政府已訂立方向，但我們始終不明白為何要多等5年，在2024年才能落實。
Although the Government has decided to do so we still do not understand why we must wait for another five years for it to take place that is implementation in 2024
政府可否把握時間，在本屆立法會任期內提交法案讓立法會審議？
Can the Government not losing any time submit a bill to the Legislative Council for scrutiny during this term of the Council?
我相信在座大多數跨黨派議員也會支持，並能爭取足夠時間通過相關法案。
I believe most of the Members present regardless of their political affiliations will express support and manage to find time to pass the bill
主席，強積金對沖的安排1年已可"沖走"我們"打工仔"30億元至40億元的血汗錢，真的是多等1天也嫌太久。
President the MPF offsetting arrangement acts like a flush capable of washing away 3 billion to 4 billion of the hard - earned money of employees in one year and so it really is too long to wait for one more day
到他們退休時豈非不夠錢用，而社會的退休負擔豈非又沉重了？
Would it not be possible that they do not have enough money to spend when they retire and become a heavier burden for society?
所以，取消強積金對沖機制真的要盡快、加快進行。
In the light of this the abolition of the offsetting arrangement must really be expedited
其實，強積金並非一個完全開放競爭的市場。
In fact MPF is not a totally open and competitive market
大家聽到便會感到很奇怪，香港不是奉行自由市場經濟嗎？
Everyone will be surprised at when hearing this . Is it not true that market economy is practised in Hong Kong?
強積金最大的受惠人是僱員或"打工仔"，但他們不能選擇強積金受託人，而是老闆代他們選擇的，而老闆是不會考慮回報好壞及收費高低，主要考慮是處理僱員強積金的工作是否方便而已。
The MPF System is supposed to benefit mostly the employees or wage earners but they cannot choose MPF trustees who are chosen for them by their bosses and their bosses would not consider whether the returns are good or bad or whether the fees are high or low; they would mainly consider whether the work in handling MPF for employees is convenient or not
令"全自由行"至今未能落實的其中一個技術問題，就是強積金對沖機制仍未取消。
One of the technical problems obstructing implementation of full portability of MPF benefits is that the offsetting arrangement has yet to be abolished
所以，話又須說回前面，取消強積金對沖機制真的要盡快進行，令"全自由行"得以實施，解決這個技術困難。
Therefore it takes us back to the previous point which is that the abolition of the offsetting arrangement really needs to be implemented as soon as possible so that full portability of MPF benefits can be implemented and the technical problem solved
政府可否規管所有受託人均須提供這類回報不低於通脹的保證基金？
Can the Government stipulate that all MPF trustees must provide guaranteed funds of this kind which offer a rate of return not lower than inflation?
現時的保證基金的回報實可說是非常"雞肋"，遠低於通脹。
At present the returns on guaranteed funds can be described as far from being satisfactory because they are much lower than the inflation
第五，我亦希望政府為低收入人士作供款。
Fifth I also hope that the Government can make MPF contributions for the low - income people
我認為這些僱員本身的工資已經低，政府是否能夠代他們供款，令他們強積金戶口的存款不至於太少，將來退休欠缺保障？
I think the incomes of these employees are low enough so can the Government should make contributions for them so that the savings in their MPF accounts would not be too small for them to enjoy protection upon retirement?
主席，今天我動議"活化強制性公積金"的議案，是由於強制性公積金制度自成立以來，一直為人所詬病和引起很多批評。
President today I move the motion on Revitalizing the Mandatory Provident Fund as the Mandatory Provident Fund MPF System has come under censure and has long been a subject of criticism since its establishment
強積金計劃的意義是讓在職人士透過與僱主共同供款作為儲蓄，應付個人退休後的生活開支。
The significance of the MPF schemes is to enable working persons to make savings through contributions with the employers so as to meet their living expenses in retirement life
資料顯示，強積金由成立至今，已經累積超過8,000多億元，但一般的"打工一族"必須年滿65歲才可動用強積金。
Statistics show that MPF has accumulated over 800 billion since its establishment but the general wage earners are allowed to withdraw their MPF benefits only when they attained the age of 65
如果在儲蓄金錢後未能及時使用，或在有需要時方恨少，這亦與當初保障退休生活的目標背道而馳。
If the savings cannot be used in a timely manner or are found not enough when needed it runs counter to the original intent of protecting retirement life
從事實看來，現時每人平均就強積金虧蝕8,000多元，市場上的強積金報告指出，現時強積金在扣除通脹後的淨值，只有大約4%的增長。
As shown by the facts each person suffers from an average loss of over 8,000 of their MPF at present . The MPF reports on the market pointed out that the current net value of MPF excluding inflation shows an increase of about 4 % only
我認為無論是虧蝕8,000元抑或有4%的增長，總體結果均不理想。
Regardless of whether it is a loss of 8,000 or an increase of 4 % I think that the result is not satisfactory at all
試想想，按照現時的生活情況，一個人最大的天敵是甚麼？
Given the current condition of living what is the biggest natural enemy of a person?
答案是自己的年紀，年紀越大，賺錢能力越低，但積蓄能否支持或維持我們的生活，保持退休前的生活質素？
The answer is our age . As we grow older our ability to make money becomes lower . But can our savings support or sustain our living and maintain our pre - retirement quality of life?
除了保障之外，就是健康，生活質素與健康直接相關。
Apart from protection it is health . The quality of life is directly related to health
假設一個人由25歲開始工作，月薪為3萬元，直至65歲為止，有40年在工作。
Assuming that a person starts to work at the age of 25 with a monthly salary of 30,000 and he will work for 40 years until the age of 65
假設月薪沒有任何增長或調整，亦沒有通脹或複息累積，他每年儲蓄36,000元，40年便有144萬元。
If there is neither any increase in or adjustment to his monthly salary nor any inflation or accrued compound interest earning he will save 36,000 a year and 1.44 million in 40 years
一百四十四萬元聽起來好像是頗豐厚的金額，可以保障其退休生活，但不要忘記，生活指數會不斷上升，通脹亦會蠶食這筆積蓄。
This 1.44 million sounds like a generous amount of money to protect his retirement life but do not forget that the index of living is ever rising and inflation will erode his savings
屆時這個金額是否真的能夠應付開支，並且維持生活質素？
By then will this amount be really able to meet his expenses and maintain the quality of life?
鄉議局在年初二求籤，籤文是"石田為業喜非常，畫餅將來未見香；怎曉田耕耘不得，那知餅食不充腸。
The Heung Yee Kuk member drew a lot on the second day of the Chinese New Year . The oracle reads It is nothing joyable to plough a stone field and a cake drawn on a piece of paper will never smell good . This is because a stone field cannot be cultivated to yield and a cake painting will not lead to satiety
"用來形容強積金便最貼切了，看起來好像有一筆錢，但將來是否用得到或足夠呢？
This is an apt description of MPF . There seems to be a sum of money but can it be used or is it enough for the future?
這是最大的問題。
This is the biggest question
如果在65歲時仍然健康便沒有問題，但萬一不幸患上頑疾，便要應付龐大的醫療開支。
It will be fine if we stay healthy at the age of 65 but we would have to cope with huge medical expenses in case we contracted serious illnesses
在目前的強積金中，每年都會累積一定的金額，除了容許我們投資股票、基金，選擇高風險、中風險或保本投資之外，應否容許我們運用部分強積金購買醫療保險？
MPF currently accumulates a certain amount of money every year . In addition to investing in equities and funds and choosing high - risk medium - risk or capital - guaranteed investments should we be allowed to use some of our MPF benefits to take out medical insurance?
因此，我希望各位同事支持我今天的議案。
Therefore I hope Honourable colleagues can support my motion today
錢不應放在銀行，到使用時才發現不夠，而是要適時為自己籌謀，能夠有多一個選擇，為自己的健康購買保險，此舉有數個理由和好處。
Money should not be put in the bank and found not enough when needed . Instead we should plan for ourselves in a timely manner by having an additional option to buy an insurance policy for our own health . There are several reasons and advantages for this
我剛才提及會有多一個選擇，有彈性；第二，亦可適時獲得保障，無須等到65歲才使用。
I have just mentioned that there will be an additional option with flexibility . Secondly a person may receive timely protection without having to wait until the age of 65
如果他可以使用保險額度，便無須依賴公營醫療系統。
If he can make use of his insurance coverage there will be no need to rely on the public health care system
如果可以的話，由他自己當家作主，自行作出決定，在私營醫療系統內接受醫療服務，亦有保險為他提供支援。
If this is possible he can make his own decisions receive medical services in the private health care system and be supported by insurance
經社會各階層討論後，政府亦已作出適當的調整，調低強積金管理人的佣金。
After discussions among various sectors of the community the Government has now made appropriate adjustments to reduce the commissions of MPF administrators
在兩星期前，特首前來立法會時，我亦開宗明義提出這個問題。
Two weeks ago when the Chief Executive came to the Legislative Council I raised this matter clearly
當時特首說，何議員，第一......
At that time the Chief Executive said Dr HO the first
特首當時說，顧名思義，強積金必定有強迫性；第二，強積金的金額亦不多，如果現時動用了，將來的金額或可為供款人提供的保障程度便會更低。
The Chief Executive said at that time that as the name implies MPF must be mandatory . Secondly the amount of MPF contributions is not great . If it is withdrawn now the future amount may provide an even lower level of protection for the contributors
我很希望今天提出這項關於活化強積金的議案，能夠得到立法會內各位同事支持。
I hope this motion on revitalizing MPF moved by me today can be supported by Honourable colleagues in the Legislative Council
我明白有數位議員會提出修正案，我暫且不作評論，待我聽取各位議員表達意見後，稍後才再作回應。
I know that a few Members will propose amendments and I will not make any comments for the time being . I will give a response later on after listening to the views presented by Members
我現在向各位提出的待議議題是：何君堯議員動議的議案，予以通過。
I now propose the question to you and that is That the motion moved by Dr Junius HO be passed
有6位議員要動議修正案。
Six Members will move amendments to this motion
我會依次請要動議修正案的陳健波議員、陸頌雄議員、黃定光議員、郭家麒議員、張超雄議員及謝偉俊議員發言，但他們在現階段不可動議修正案。
I will call upon Members who will move the amendments to speak in the following order Mr CHAN Kin - por Mr LUK Chung - hung Mr WONG Ting - kwong Dr KWOK Ka - ki Dr Fernando CHEUNG and Mr Paul TSE but they may not move the amendments at this stage
我只不過是給大家多一個選項，我們除了投資股票外，可否為自己的健康或未來的健康保障作出投資呢？
I am only trying to give people an additional option . Apart from investing in stocks can we invest in our health or a future health protection?
但是，這樣的安排，始終解決不到現時超過11萬名市民居於不理想的環境中的問題。
However such arrangements can never solve the problem of more than 110 000 people who are currently living in an undesirable condition
我上次說過，要這些居民等待5年半才能獲分配公屋，時間實在太長，5天也嫌多。
These people have to wait for 5.5 years before they can be allocated public housing . I have said the same thing last time―the waiting time is too lengthy even five days are too long
此外，該區也有北環線的道路，主要的幹道全部在那裏，亦相對貼近內地，所以要穿梭內地與香港之間，亦都非常方便。
There is also rail service to provide convenient transportation to the residents . In addition there are also accessing roads to the Northern Link where all the main trunk roads are connected . The place is relatively close to the Mainland so it is very convenient to travel between the Mainland and Hong Kong
這方面，政府始終要做主導，勝過由其他民間組織處理。
In this regard the Government should always take the lead it would do better than other community organizations
如果政府肯親自處理，便會事半而功倍。
If the Government is willing to take things in their own hands there would be a multiplier effect
在這項主題上，我相信無論是建制派或泛民議員，大家的看法也相同，只是做法不同。
On this topic I believe Members of both the pro - establishment camp and the pan - democratic camp share the same view though the approach may be different
大家都認定這個問題有迫切性，需要處理。
Everyone agrees that this issue is urgent and needs to be addressed
如果政府以合理條件徵收土地作公共設施，亦有徵收土地的條例可作配合，如果發覺有不足的地方，需要就條例作出改善，亦有必要就有關條例作修改。
If the Government resumes land for public facilities on reasonable terms there are applicable Ordinances on land resumption . If deficiencies are found and improvements to the Ordinances concerned are necessary legislative amendments are also obligatory
我覺得在資金方面，我們是有的。
I think we have the money needed
基本上，我對鄭泳舜議員提出的方案，都是"照單全收"。
Basically I totally accept all the proposals put forward by Mr Vincent CHENG
至於其他議員的修正案，內容都是相若的，唯獨我想指出，朱凱廸議員提出的修正案建議使用軍事用地及迪士尼樂園來興建過渡性房屋，我覺得這是不切實際，亦不符合《基本法》的要求。
As for the amendments moved by other Members the contents are more or less the same . I only want to talk about the amendment proposed by Mr CHU Hoi - dick about the use of military land and the Disneyland to build transitional housing units . I find this impracticable and does not meet the requirements of the Basic Law
在處理這個內部問題時提及將軍事用地用作興建過渡性房屋，我覺得完全不妥。
Proposing the use of military land for transitional housing construction while we are dealing with this internal problem I find it totally inappropriate
我基本上是支持鄭泳舜議員的議案。
I basically support the motion moved by Mr Vincent CHENG
主席，社會上一直對強制性公積金存有很多負面的評價，經常有人說強積金回報低、收費高，我想藉着今天的機會利用數據和事實談談回報的問題，因為我發現很多人只是以訛傳訛、人云亦云，說強積金回報率很差。
President there have been many negative comments on the Mandatory Provident Fund MPF in society . MPF is often perceived as yielding low returns and charging high fees . I would like to take this opportunity today to talk about the issue of returns with the help of some data and facts as I found that many people incorrectly relay erroneous messages and believe in hearsay claiming that the MPF returns are very poor
許多人大讚外匯基金的回報率高，但如果適當選擇強積金基金，回報可以比外匯基金更好，我會用數據證明這一點。
Many people sing praises of the Exchange Fund for the high rate of return but MPF may yield an even better return than the Exchange Fund if choices of MPF schemes are properly made . I will prove this with data
當然，強積金有其需要改善的地方，我過去10年一直推動減省行政費用，而這類費用已下降不少，但應該還有下調的空間。
Of course there are areas for improvement insofar as MPF is concerned . I have been advocating a cut in the administration fees over the past decade and such fees have dropped a lot but there should still be room for a further reduction
雖然數天前剛公布的2018年最新的全年數字，由於2018年股市大幅下跌，整體年率化回報率下調至4.1%，但本年1月至今股市反彈，跌幅亦大幅收窄，所以我依然引用截至2018年的最新數字。
While the latest full - year figures for 2018 were released just a few days ago of which the overall annualized rate of return dropped to 4.1 % due to a sharp fall in the stock market in 2018 the stock market has rebounded since January this year with the decline narrowed significantly . As such I will stick to the latest figures as of 2018
事實上，近八成強積金供款均投資於中高風險的基金，包括股票基金及混合資產基金，我們可以看看它們的回報如何。
In fact nearly 80 % of the MPF contributions are invested in medium - and high - risk funds including equity funds and hybrid funds . We can look at their return performances
主席，數字說明一切，強積金回報率其實相當不錯，除非一定要選擇保證基金或保守基金，這兩種基金平均每年回報率只有1.1%和0.7%，跑輸通脹。
President these figures speak for themselves . The rate of return on MPF is actually quite considerable . Unless it is a must to choose a guaranteed fund or a conservative fund the rate of return on these two funds respectively underperformed inflation at only 1.1 % and 0.7 % per year on average
事實上，強積金回報的威力是需要長時間平均積累，因為有時投資市場出現波動以致下跌，例如2018年恒生指數下跌4,000點，強積金回報率是-8.83%；但大家不要忘記，2017年恒指升幅達8,000點，而強積金回報是+22.3%。
In fact the power of MPF returns would require a long time to accumulate on average because sometimes it may fall as the investment market fluctuates . For example the Hang Seng Index HSI dropped 4 000 points in 2018 and the rate of return for MPF was - 8.83 % . But do not forget that HSI surged by 8 000 points in 2017 and the rate of return for MPF was 22.3 %
本年首一個半月股市有可觀的回報，亦顯著收窄了2018年的跌幅。
In the first one and a half month of the year the stock market reported a considerable return and significantly narrowed the decline in 2018
所以，我們要以長遠角度評價強積金，不可只看當年跌市便說強積金表現差，當然亦不能看到2017年股市大升便說強積金"萬歲"。
Therefore we should evaluate MPF from a long - term perspective . We should not look at the down market in a particular year and say the MPF performance is poor and of course we cannot praise MPF as king for the market surge in 2017