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The MPFA held the MPF Symposium today (12 December), titled “Embrace, Enrich, Evolve: The Future of MPFTech”, to explore with the MPF industry how to adopt MPFTech to accelerate digitalization and enhance user experience, as well as related opportunities and challenges.

Acting Secretary for Financial Services and the Treasury Mr Joseph Chan, Guest of Honour of the Symposium, said in his speech, “Today’s theme is the future of MPFTech.  Indeed, enhancement on technology is our key strategy echoing with the global trend and our expectation in boosting efficiency. MPFA is pressing ahead with the development of the eMPF Platform, a centralised and integrated electronic platform to standardise, streamline and automate the administration processes of MPF schemes, thereby enhancing and revamping operational efficiency of the MPF System, reducing administration costs for millions of scheme members and improving user experience.”

Mr Chan added, “Paving the way for future reforms and evolution of the MPF System, we believe that with more accessible information, the eMPF Platform further connects employers, employees and MPF intermediaries, and drives healthy competition among MPF trustees in benefitting scheme members, as well as enhancing user experience and driving greater efficiency.”

MPFA Chairman Mrs Ayesha Macpherson Lau said, “This year’s Symposium is centred around the theme of technology. Our eMPF Platform, one of the major initiatives in the Smart City Blueprint for Hong Kong, is a game-changing IT application aiming to empower the working population and employers to manage their MPF with greater ease and convenience, and drive MPF fee reduction. While ensuring the benefits of eMPF Platform are accessible to all, we must prioritize robust cyber security measures to safeguard scheme members’ interests .”

“The eMPF Platform is currently undergoing various tests,” she continued. “The migration of MPF accounts to the Platform is expected to commence in the second quarter of 2024, with the onboarding of all MPF accounts to be completed in 2025. The MPFA and the eMPF Platform Company are devising plans and programmes to promote usage of the Platform.” 

In the Symposium, the Government Chief Information Officer Ir Tony Wong, Privacy Commissioner for Personal Data Ms Ada Chung, and the General Manager of Digital Transformation Division of the Hong Kong Productivity Council Mr Alex Chan, gave keynote speeches on the topics “Smart City Powered by Artificial Intelligence in Hong Kong”, “Addressing Privacy Risks in Fintech: Safeguarding Data Security” and “Keeping Pace with Emerging Trends in Cybersecurity” respectively.

The Symposium also featured a panel discussion, titled “eMPF Take-off: Charting the Path Forward with Early Adopters and Platform Operator”, which was joined by three MPF trustees who are among the first batch to get onboard the eMPF Platform, namely YF Life Trustees, China Life Trustees, and Bank of Communications Trustee. They discussed topics including the eMPF Platform’s role in driving development of the MPF industry under the new normal, how trustees can leverage opportunities presented by the Platform, and how they promote digitalization among their clients, etc.

Photo 2: Speaking at the Symposium, MPFA Chairman Mrs Ayesha Macpherson Lau said that the MPFA and the eMPF Platform Company are devising plans and programmes to promote usage of the Platform.

Photo 3: Officiating at the Symposium are Acting Secretary for Financial Services and the Treasury Mr Joseph Chan (middle), MPFA Chairman Mrs Ayesha Macpherson Lau (left), and Managing Director Mr Cheng Yan-chee (right). 

Photo 4: Acting Secretary for Financial Services and the Treasury Mr Joseph Chan (middle), MPFA Chairman Mrs Ayesha Macpherson Lau (fifth left), MPFA Managing Director Mr Cheng Yan-chee (fifth right), MPFA Chief Operating Officer and Executive Director Ms Cynthia Hui (first left), Chief Executive Officer of the eMPF Platform Company Mr Eric Lui (first right), Government Chief Information Officer Ir Tony Wong (fourth left), Privacy Commissioner for Personal Data Ms Ada Chung (third left), General Manager of Digital Transformation Division of the Hong Kong Productivity Council Mr Alex Chan (second left), YF Life Trustees Limited Chief Executive Officer Mr Alvin Tse (fourth right), China Life Trustees Limited Chief Executive Director Mr Thomas Tam (third right), and Bank of Communications Trustee Limited Executive Director Ms Zana Lau (second right). 

Photo 5: MPFA Chief Operating Officer and Executive Director Ms Cynthia Hui (first right), Chief Executive Officer of eMPF Platform Company Mr Eric Lui (first left), YF Life Trustees Limited Chief Executive Officer Mr Alvin Tse (fourth left), China Life Trustees Limited Chief Executive Director Mr Thomas Tam (third left) and Bank of Communications Trustee Limited Executive Director Ms Zana Lau (second left), shared the preparation work for migrating the accounts of their MPF schemes to the Platform in the panel discussion session.

Photo 6: MPFA Managing Director Mr Cheng Yan-chee delivered the closing remarks at the Symposium.

－Ends－

12 December 2023