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- MPFA blog: Consumers can drive trustees to cut fees
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MPFA blog: Consumers can drive trustees to cut fees
Mandatory Provident Fund Schemes Authority (MPFA) Chairman Dr David Wong today (5 August) wrote his latest blog post on the MPFA website, saying scheme members can exercise their power as consumers to encourage competition among Mandatory Provident Fund (MPF) trustees to further cut fees through managing their MPF.
He mentioned there was almost $600 billion in the MPF System that could be transferred by scheme members, accounting for nearly 70% of the total assets. He encouraged scheme members to compare the performance and fees of funds, as well as the quality of service among different schemes. He believed the action of MPF members was the most effective way to promote market competition.
Dr Wong also urged employers to regularly review the fees, level of service and investment performance of their MPF schemes, and suggested that they consider offering more than one MPF scheme for their employees to choose from.
Please check here for the MPFA blog. The blog is in Chinese only.
－Ends－
5 August 2018
