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MPFA Chairman Mrs Ayesha Macpherson Lau was interviewed by TVB Finance News on MPF performance amid the recent market volatility and the latest progress of the eMPF Platform project. The interview was aired on 11 March 2022.

With regard to the market volatility arising from the recent pandemic situation and geopolitical tension, Mrs Lau pointed out that the MPF System has experienced a number of economic cycles since its inception in 2000 and reminded scheme members not to be overly concerned about short-term market volatility or with trying to time the market.

She mentioned that the eMPF Platform project has entered the user-interface design stage. Despite her understanding of public expectations for the Platform to be in operation as soon as possible, she reiterated that the eMPF Platform is a mega project, and that its complexity should not be underestimated, especially as it involves a huge amount of information.  She pointed out that the MPFA, eMPF Platform Company, and the project contractor have been working at full steam to develop the Platform, which will be fully operational after the completion of the data migration in 2025.

On another note, Mrs Lau said allowing scheme members to withdraw their MPF on the grounds of financial hardship would undermine the effectiveness of accumulating the MPF and would be harmful to scheme members’ retirement protection in the long run.