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- Pilot launch of e-Application for MPF intermediaries
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Pilot launch of e-Application for MPF intermediaries
The Mandatory Provident Fund Schemes Authority (MPFA) has launched a pilot scheme of e-Application, which allows Mandatory Provident Fund (MPF) intermediaries to submit their registration applications via MPFA’s online eService to expedite the registration process and enhance service quality.
A number of principal intermediaries1 have joined the pilot scheme. They can submit two types of applications via eService: the Application for Registration as Subsidiary Intermediary2 and the Application for Approval of Attachment of Subsidiary Intermediary to Principal Intermediary. The MPFA will review users’ feedback and the pilot scheme results next year, and will extend e-Application to all principal intermediaries by the end of 2019.
In recent years, the MPFA has rolled out various digital tools to bring about “smart administration” to enhance operational efficiency and the overall user experience. In respect of MPF intermediaries, one of these tools, launched in 2013, is the online platform eService for MPF Intermediaries, which allows intermediaries to submit their annual returns. At present, around 75% of MPF intermediaries submit their annual returns online.
-Ends-
1 November 2018
1. An MPF principal intermediary is a business entity registered by the MPFA to engage in MPF sales and marketing activities.
2. An MPF subsidiary intermediary is a person sponsored by an MPF principal intermediary and registered by the MPFA to carry out MPF sales and marketing activities on behalf of the principal intermediary.