are directed at two purposes – unemployment benefit and at the same time as a pension – thus not achieving either objective. From the period since its launch to 2010, employers used HK$12 billion from employees' MPF accounts to make severance or long-service payments; employees made redundant risked seeing their MPF funds depleted by these withdrawals. See also Inland Revenue Department (Hong Kong) Employment contract References External links Mandatory Provident Fund Schemes Authority (MPFA) Mandatory Provident Fund Schemes Ordinance Economy of Hong Kong Welfare in Hong Kong Pension funds Hong Kong society