Info Center

A total of 848 organizations were recognized as Good MPF Employers 2015-16 at today’s (4 October) award presentation ceremony, organized by the Mandatory Provident Fund Schemes Authority (MPFA). The figure represents an increase of about 30% compared to last year’s Awards. Of the 848 awardees, 542 received the Good MPF Employer Award for the second consecutive year.
 
As with last year, the awarded organizations come from different industries, including finance, construction, transportation and catering, and are estimated to employ almost 150,000 employees overall.
 
About 90% of the awardees offer one additional retirement protection benefit above the statutory requirements, and the other 10% offer two or more additional benefits. In terms of the types of benefits offered, 93% of Good MPF Employers make voluntary contributions for their employees; 13% offer more than one Mandatory Provident Fund (MPF) scheme for their staff to choose from; and 8% offer both additional benefits to their staff.
 
Over 400 guests attended today’s award presentation ceremony. The guest of honour was Secretary for Labour and Welfare Matthew Cheung Kin-chung. Other guests included representatives of the awardees, supporting organizations of the Award and other members of the MPF industry.
 
Speaking at the award presentation ceremony, MPFA Chairman Dr David Wong said, “The MPF System is an employment-based retirement protection system, and active participation by both employers and employees in the MPF System is key to its success.”
 
He stressed that providing better retirement benefits is not just a one-sided effort by employers; it is a win-win arrangement. It gives employees a greater sense of belonging to the company and encourages them to work harder in return.
 
Dr Wong suggested that when employers select their MPF schemes, consider offering additional MPF schemes for their employees, or plan to change their MPF trustees, they should involve their staff as far as possible in the selection process. Employers should listen to the views of their staff, and compare different MPF schemes on fund choices, the availability of rebates, fund fees, service quality of the trustees, and so forth, to find appropriate schemes that match the needs of their staff.
 
He said, “The MPF System will undergo a major reform in 2017 with the Default Investment Strategy expected to be launched in the first half of the year. We look forward to working closely with different sectors to spread the MPF messages and provide better retirement protection for all employees.”
 
Secretary for Labour and Welfare Matthew Cheung Kin-chung said, “Care of employees, fulfilling employers’ responsibilities and providing additional retirement protection benefits to employees are all conducive to building a harmonious employer-employee relationship. This will benefit employees, the organizations concerned and the community at large. The MPFA’s ‘Good MPF Employer’ platform is thus well worth supporting. The awards for good employers will encourage more companies to follow suit in providing the best retirement protection for their employees.”
 
The Good MPF Employer Award is an annual programme that seeks to promote and foster employer compliance with MPF legislation; encourage employers to provide better retirement benefits for their employees; and recognize employers who are exemplary in enhancing the retirement benefits of their employees.
 
The Good MPF Employers 2015-16 are entitled to the following:

• Permission to use the Award logo on their websites, in promotional materials, on their stationery, in their advertisements, and so forth, until 30 September 2017;
• Having their names listed on the MPFA website for viewing by members of the public; and
• Early-bird enrolment for MPFA events and seminars on MPF investment and MPF account management.