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IIQE Paper MPF English Key Study Notes
Name the pillars of the MPF system as introduced in 2005. Pillar Zero: a non-contributory, publicly-financed and managed system that provides a minimal level of protection for retirement;Pillar One: a mandatory, contributory and publicly-managed system;Pillar Two: a mandatory, privately-managed, fully-funded contribution system;Pillar Three: voluntary savings (e.g. personal savings and insurance); andPillar Four: informal support (e.g. family […]