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- MPFA blog - MPF System realizes inclusivity
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MPFA blog - MPF System realizes inclusivity
In her latest blog post, published today (18 December), MPFA Chairman Mrs Ayesha Macpherson Lau said that the MPF System is a retirement protection system designed for the working population of Hong Kong with a wide coverage. Employees and self-employed persons aged 18 to 64 are required to enrol in MPF schemes according to the Mandatory Provident Fund Schemes Ordinance. This arrangement demonstrates the inclusivity of the System. Since assuming chairmanship of the MPFA nearly 2 years ago, Mrs Lau has made multiple visits to ethnic minority communities with her MPFA colleagues to explain the purpose and design of the MPF System in person with a view to enhancing their understanding of their MPF rights and encouraging them to manage their MPF investments with a proper attitude.
Mrs Lau said that although most ethnic minority employees have a basic understanding of the MPF, there remain some ethnic minority employees with limited exposure to MPF information or even misconceptions about the operation and investment arrangements of the MPF System. While some ethnic minority members who have lived in Hong Kong for a longer time or received local education have no problem with communicating in Chinese and English, those who have been in Hong Kong for a shorter period of time need additional support in understanding the information.
She pointed out that the MPFA has been proactively urging self-employed persons (SEPs) to enrol in MPF schemes and many ethnic minority members are SEPs. As at the end of November 2022, about 240,000 SEPs had enrolled in MPF schemes, representing an enrolment rate of over 85%. She said the MPFA would strengthen the promotion of the MPF rights of regular employees and SEPs through various ethnic minority groups.
To help ethnic minority members understand the importance of MPF, Mrs Lau added that the MPFA had held 16 outreach activities in the past year, including seminars and visits, and distributed MPF leaflets and promotional materials designed for them. The Authority also set up MPF enquiry counters in ethnic minority communities and large-scale career fairs to address their enquiries on site. The MPFA has also collaborated with different non-profit organizations and disseminated MPF information written in various languages (including English, Urdu, Nepalese and Hindi) through their social media platforms to help ethnic minority workers correctly understand MPF.
In the future, the MPFA will continue to reach out to the community and engage employees and organizations from various backgrounds, ethnicities and industries to enhance the public’s understanding of MPF.
For the full version of the article, please visit the MPFA blog. The blog is in Chinese only.
MPFA Chairman Mrs Ayesha Macpherson Lau, Managing Director Mr Cheng Yan-chee and MPFA colleagues met with representatives of the Incorporated Trustees of the Islamic Community Fund of Hong Kong in the Kowloon Mosque to better understand their views on MPF and retirement protection.
The MPFA organized an outreach activity in the Kowloon Mosque and distributed MPF leaflets and promotional materials designed for ethnic minorities.
MPFA Chairman Mrs Ayesha Macpherson Lau visited Ping Lai Path in Kwai Chung and exchanged views with ethnic minority employees in the community.
MPFA has made multiple visits to ethnic minority communities, set up MPF enquiry counters staffed with its ethnic minority colleagues to address enquiries on MPF information, and distributed MPF leaflets and promotional materials designed for ethnic minorities.
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18 December 2022