Info Center

MPFA Chairman Mrs Ayesha Macpherson Lau welcomes the measures and suggestions on strengthening the MPF’s retirement protection function in the 2021 Policy Address delivered by the Chief Executive Mrs Carrie Lam today (6 October), including implementing the eMPF Platform at full steam, putting in place the measure of paying MPF contributions for low-income employees, taking forward the abolition of the MPF offsetting arrangement by introducing legislative amendments in the next legislative year, as well as further exploring ways to better encourage the public to convert their MPF into annuity to be received on a regular basis after retirement. The MPFA will provide full support to assist the Government in taking forward the various measures and suggestions. 

Mrs Lau expresses her gratitude for the Government’s support to the eMPF Platform project. She expects that the eMPF Platform would enhance the operational efficiency of the MPF System through standardization, streamlining and automation of MPF scheme administration. This will in turn reduce costs and create room for fee reduction directly benefiting MPF scheme members. 

With regard to the Chief Executive’s suggestion on exploring the interface between the MPF and annuity, Mrs Lau said: “The MPFA supports the Government’s initiative to study the enhancement of retirement protection for the working population. The MPFA has all along been studying how to further assist scheme members to increase their retirement reserves and to meet their post-retirement financial needs.” 

In addition, it was mentioned in the Supplement of the Policy Address that the Government will examine with the MPFA measures to facilitate MPF investment in government and policy bank bonds issued in the Mainland. The MPFA welcomes the initiative and will fully support the Government to study the implementation details.” 

－Ends－

6 October 2021