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MPFA Chief Operating Officer Ms Cynthia Hui led a delegation to attend the “Roundtable on Insurance and Retirement Savings in Asia” co-organised by the Organisation for Economic Co-operation and Development (OECD), Asian Development Bank Institute and Insurance Regulatory and Development Authority of India in Hyderabad, India between 24-25 May with senior government officials, representatives of regulators and industry experts from different jurisdictions to discuss the key developments and challenges in the retirement savings arena in Asia.

Ms Hui spoke at the roundtable session on technology and innovation on 25 May, introducing the eMPF Platform as a pioneer among privately managed pension schemes worldwide for comprehensively covering all the administrative procedures.

She articulated the drivers and functions of the eMPF Platform, and highlighted that it was designed with MPF scheme members as the focus. As a one-stop shop of scheme administration, the Platform could improve user experience and strengthen the engagement of scheme members in managing their MPF.

She reiterated that standardizing, streamlining and automating the existing MPF scheme administrative processes would significantly improve the operational efficiency of the MPF System, thereby leading to fee reductions to scheme members’ direct benefit.