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MPFA Chairman Mrs Ayesha Macpherson Lau welcomes the series of measures on reinforcing Hong Kong's status as an international financial centre and unleashing Hong Kong’s advantages in The Chief Executive’s 2023 Policy Address.

Mrs Lau said that the MPF System has fully realised the advantages of Hong Kong as an international financial centre, in enhancing the retirement protection for the working population, thanks to the availability of diverse investment products, high quality financial services and robust regulatory framework.

She continued, the successful implementation of the eMPF Platform project is of the utmost importance to the MPFA at this juncture. As the most important reform since the inception of the MPF System, the Platform is poised to create a brand new user experience, lower administration costs and expedite the digitalization of the MPF industry. As mentioned in the Policy Measures released together with The Chief Executive’s 2023 Policy Address, the MPFA and eMPF Platform Company have been working in full force to expedite the eMPF Platform project, and the phased onboarding of MPF trustees to the Platform is targeted to commence from the second quarter of 2024. This will help further enhance the MPF System, thereby strengthening Hong Kong's position as an international financial centre. 

In addition, it was mentioned in the Policy Measures that employers are encouraged to make more MPF voluntary contributions for their employees aged 65 or above through further tax deduction. The relevant legislative proposal will be submitted to the Legislative Council for scrutiny, and the MPFA will render full assistance to the Government in taking forward and implementing the initiative.

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25 October 2023