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- MPFA blog - Moving towards reform through digital transformation
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MPFA blog - Moving towards reform through digital transformation
In his latest blog post published today (10 January), MPFA Chairman Dr David Wong said that the MPFA has been standing fast at its post amid the epidemic over the past year to protect scheme members’ interests, including recovering outstanding MPF contributions and surcharges for employees, while continuing its efforts to improve MPF investment choices in order to obtain the best possible investment returns for scheme members. The MPFA has also encouraged the industry to develop investment solutions for both contribution and withdrawal phases within the MPF framework.
Looking forward, Dr Wong said that the eMPF Platform project would enter a critical development phase this year. The MPFA will remain committed to creating a new digital MPF ecosystem at a steady pace. He pointed out that the pandemic has severely disrupted the economy in 2020, but at the same time it helped expedite the speed of digital transformation. He believed that when the eMPF Platform is built by 2022 and start to launch by phases thereafter, the digital capability of the general public at the time is expected to reach a higher level. The MPF System will be better prepared to embrace transformation through the eMPF Platform, benefiting more than four million scheme members and a vast array of users from fintech advances and greater financial inclusion. He added that the MPFA would press ahead to enhance the digital capability of the MPF industry in order to help pracitioners cope with the challenges, while helping new market players ride the technology wave to enter the MPF market. This will help increase market competition and benefit the working population at large.
For the full version of the article, please visit the MPFA blog. The blog is in Chinese only.
－Ends－
10 January 2021
Looking forward, Dr Wong said that the eMPF Platform project would enter a critical development phase this year. The MPFA will remain committed to creating a new digital MPF ecosystem at a steady pace. He pointed out that the pandemic has severely disrupted the economy in 2020, but at the same time it helped expedite the speed of digital transformation. He believed that when the eMPF Platform is built by 2022 and start to launch by phases thereafter, the digital capability of the general public at the time is expected to reach a higher level. The MPF System will be better prepared to embrace transformation through the eMPF Platform, benefiting more than four million scheme members and a vast array of users from fintech advances and greater financial inclusion. He added that the MPFA would press ahead to enhance the digital capability of the MPF industry in order to help pracitioners cope with the challenges, while helping new market players ride the technology wave to enter the MPF market. This will help increase market competition and benefit the working population at large.
For the full version of the article, please visit the MPFA blog. The blog is in Chinese only.
－Ends－
10 January 2021
