Info Center

The Mandatory Provident Fund Schemes Authority (MPFA) today (20 December 2001) named Caritas Adult & Higher Education Service, Financial Services Development Centre of Vocational Training Centre and Hong Kong Securities Institute as recognized institutions for the provision of core subjects of Continuing Professional Development (CPD) for MPF Intermediaries.

Starting from 1 January 2002, all individual MPF intermediaries are required to undertake 10 hours of CPD activities in each calendar year, with at least 20 per cent of the minimum requirement to be devoted to core subject areas. Core subject areas include MPF or related legislation, relevant codes and guidelines, as well as latest developments in the MPF System. Non-core subjects include areas such as financial products, insurance, economic/financial analysis, language and communication skills.

Ms Hendena Yu, Chief Operating Officer (Compliance) of the MPFA said, "Credits for core subjects that are offered by the three institutions are recognized by the MPFA. In future, intermediaries may also earn credits by attending MPF-focused activities accredited under the Insurance Authority's CPD Programme or organized by institutions recognized by the Securities and Futures Commission, and recognized by the MPFA. For non-core subjects, attendance to activities organized by recognized institutions is encouraged but not mandatory."

MPF intermediaries can call the following numbers for more information on the MPF programmes offered by the three institutions: Caritas Adult & Higher Education Service (2559 3952), Financial Services Development Centre of Vocational Training Centre (2836 1849/ 2836 1862) and Hong Kong Securities Institute (3120 6200). The Guide to Continuing Professional Development for MPF Intermediaries can be downloaded from the MPFA's website at http://www.mpfahk.org.


End/Thursday, 20 December, 2001