What's New

MPFA Chairman Mrs Ayesha Macpherson Lau held a virtual media briefing on 27 January 2022. She reviewed the performance of MPF System in 2021, introduced the progress of the eMPF Platform project and other major work foci of the MPFA in 2022.

Mrs Lau pointed out that as at the end of December 2021, total MPF assets recorded year-on-year growth of 4%, amounting to $1.18 trillion. Although the MPF System recorded a negative return of 0.3% in last year, the annualized net rate of return since the inception of the MPF System in 2000 was 4.3%, which is higher than the annualized inflation rate of 1.8% over the same period, reflecting that the MPF System has stood the test of time in the long run. Mrs Lau reminded scheme members not to be overly concerned about short term market volatility and must not try to time the market.

Mrs Lau also said the eMPF Platform project contractor is currently developing the Platform at full steam. MPF trustees will commence the orderly transition of MPF schemes and account information to the eMPF Platform from 2023 at the earliest and the eMPF Platform could come into full operation in early 2025. Meanwhile, the MPFA has launched a half-year consultation exercise in late December 2021 to reach out to prospective eMPF Platform users to gather suggestions and feedback on the user interface and related functions of the eMPF Platform to help the contractor optimize the design.

Besides, Mrs Lau also introduced the MPFA’s work foci in enhancing MPF investment in 2022 and its plan to review the minimum and maximum relevant income levels for mandatory contributions according to statutory requirements this year.