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The MPFA organized the MPF Symposium today (17 November), titled “What’s Next? The New Trends of MPF”, to share with the MPF industry ways to achieve better retirement outcomes for MPF scheme members and explore the post-eMPF MPF ecosystem.

Secretary for Financial Services and the Treasury Mr Christopher Hui, Guest of Honour of the Symposium said in his speech, “The past 21 years demonstrated the strength and resilience of the MPF System not only in the good times when the market blooms and yields good returns for our members, but also in the lows when scheme members can buy cheap and create value for the future. Although no one can control or change the investment environment, enhancing the diversity of investment choices while balancing investment returns and risks can protect scheme members’ interests. The Government and the MPFA are constantly reviewing the MPF investment regulations and tapping the industry’s views with scheme members’ interests first.”

Mr Hui added that by enhancing the operational efficiency and cost effectiveness of the MPF System, the eMPF Platform will help reduce the administrative costs of MPF funds and pave the way for other important reform initiatives upon its full commissioning. For scheme members, every penny saved as a result of digitalization of the MPF ecosystem enabled by the eMPF Platform will mean more for investment and positive returns.

In her opening address, MPFA Chairman Mrs Ayesha Macpherson Lau said, “At the MPFA, we work with the industry to produce appropriate investment solutions that increase the diversity of investment choices for scheme members. We also review permissible MPF investments whenever there are new developments in the market. The range of constituent funds in an MPF scheme should be diverse enough to address the needs of scheme members who have different risk appetites and expectations in both the accumulation and post-retirement phases.”

 She continued, “To further promote the diversity of constituent funds within MPF schemes, the MPFA issued a circular to the MPF industry earlier today outlining the refined approval criteria for constituent funds.” In the first session of the Symposium, featuring Chairman of Pension Schemes Association Mr Calvin Chiu and MPFA Executive Director (Policy) Ms Gabriella Yee as speakers, various recommendations to strive for better retirement outcomes including retirement investment education and launch of more fund choices that generate stable returns and the MPFA’s recent investment governance and management initiatives were discussed. 

Regarding the post-eMPF era, Mrs Lau mentioned that the launch of the eMPF Platform will have far-reaching implications for all stakeholders in the MPF ecosystem. This cost-efficient administration platform will not only meet the needs of all stakeholders, but also drive for behavioural change under the MPF System, encouraging more direct involvement in retirement investment. This topic was discussed in the second session, with panel speakers including Chairman of Hong Kong Trustees’ Association Ms Ka-shi Lau, Chairman of Pension Schemes Association Ms Rainbow Pan, Executive Director (Financial Infrastructure) of Hong Kong Monetary Authority Mr Colin Pou, and MPFA Acting Chief Operating Officer and Executive Director (Members) Ms Cynthia Hui.

Concluding the Symposium, MPFA Managing Director Mr Cheng Yan-chee said, “As the impact of an aging population will be felt for many years to come, it is important to find new investment opportunities so that MPF scheme members can look forward to a sustainable and stable retirement. And as the eMPF Platform is going to be launched, it will be necessary for scheme members, employers and MPF practitioners to expedite their own digital transformations. At the MPFA, we will ensure that we are well equipped to handle changes in the operational mode and the regulatory regime when the eMPF Platform goes into full operation.”

Secretary for Financial Services and the Treasury Mr Christopher Hui, Guest of Honour of the Symposium, delivered his speech at the Symposium.

Speaking at the Symposium, MPFA Chairman Mrs Ayesha Macpherson Lau said the launch of the eMPF Platform will have far-reaching implications for all stakeholders in the MPF ecosystem.

Officiating at the Symposium are Secretary for Financial Services and the Treasury Mr Christopher Hui (middle), MPFA Chairman Mrs Ayesha Macpherson Lau (left) and Managing Director Mr Cheng Yan-chee.

Secretary for Financial Services and the Treasury Mr Christopher Hui (middle), MPFA Chairman Mrs Ayesha Macpherson Lau (fourth from the left), Managing Director Mr Cheng Yan-chee (fourth from the right), Acting Chief Operating Officer and Executive Director (Members) Ms Cynthia Hui (first from the left), Executive Director (Policy) Ms Gabriella Yee (first from the right), Chairman of Hong Kong Trustees’ Association Ms Ka-shi Lau (third from the right), Chairman of Hong Kong Retirement Schemes Association Mr Calvin Chiu (second from the left), Chairman of Pension Schemes Association Ms Rainbow Pan (second from the right), and Executive Director (Financial Infrastructure) of Hong Kong Monetary Authority Mr Colin Pou (third from the left).

MPFA Executive Director (Policy) Ms Gabriella Yee shared the details of the latest circular on the refined approval criteria for MPF funds and discussed the MPFA’s efforts to promote sound investment governance and management of MPF schemes.

Sharing their views on the post-eMPF ecosystem in the panel discussion session were MPFA Managing Director Mr Cheng Yan-chee, Acting Chief Operating Officer and Executive Director (Members) Ms Cynthia Hui (first from the left), Chairman of the Hong Kong Trustees’ Association Ms Ka-shi Lau (fourth from the left), Chairman of the Pension Schemes Association Ms Rainbow Pan (third from the left), and Executive Director (Financial Infrastructure) of the Hong Kong Monetary Authority Mr Colin Pou (second from the left).

MPFA Managing Director Mr Cheng Yan-chee delivered the closing remarks at the Symposium.

－Ends－

17 November 2022