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MPFA Chairman Dr David Wong published his latest blog post today (1 December). He mentioned that the MPFA was approved by the governing members of the International Organisation of Pension Supervisors (IOPS) last month to join its Executive Committee. Through more direct participation in the work of IOPS, the MPFA can make greater contribution to the supervision and policy development of the global pension market, while keeping abreast of the latest international industry trends, such as the latest developement of Fintech around the world.

Dr Wong noted that the development of the eMPF Platform is as important as the establishment of the MPF System 20 years ago. The eMPF Platform is meant to address the various issues caused by the decentralized mode of administration of the MPF System over the years by standardizing, streamlining and automating the administration processes. The Platform is set to make the future scheme administration faster, simpler, better and cheaper, benefiting employees, employers, the MPF industry, and the MPFA itself.

Dr Wong said that the MPFA had met with companies of various scales, industry and professional institutions collecting over 100 suggestions through rounds of focus group meetings. Their feedback covers a wide range of areas, including the specific functions of the eMPF Platform, operational details, usability, convenience, and support services. These views are extremely useful for the MPFA in building a Platform that could meet the needs and expectations of users.

The preparatory work of the eMPF Platform has entered into an important stage, with the commencement of the Request for Proposal (RFP) exercise this month. The tender is expected to be awarded in the second half of 2020.

For the full version of this article, please visit the MPFA blog. The blog is in Chinese only.

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1 December 2019