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Employers are strongly urged to join MPF schemes as early as possible so that they will have sufficient time to make the necessary arrangements before the commencement of the MPF System on December 1 this year.

The Mandatory Provident Fund Schemes Authority (MPFA) has sent a letter to about 310,000 employers, reminding them to enrol their employees in MPF schemes as soon as possible so as to avoid the last minute rush.

The MPFA Executive Director (Member Protection), Mr Ernest Lee, said: "Employers are encouraged to sign up before October, so that they will have more time preparing their payroll and accounting systems to support their MPF schemes. It is entirely in their interest to do so. Employees will also have more time to choose the constituent funds most suitable to their needs."

Towards the end of July, about 51,000 employers have chosen their MPF service providers and schemes. "We hope that the enrolment rate will pick up rapidly in the coming months. In the meantime, we will continue with our public education and publicity efforts to promote the MPF System," added Mr Lee.

Members of the public who have enquiries about the MPF System may call the MPFA hotline on 2918 0102 or visit its website at https://www.mpfa.org.hk/.

– Ends –

31 August 2000