What's New

MPFA Chairman Mrs Ayesha Macpherson Lau and MPFA colleagues met with representatives of the Baptist Oi Kwan Social Service (BOKSS) and the grassroots last Saturday (8 July) to listen to their views on the MPF System and retirement protection. Mrs Lau took the opportunity to introduce the latest development of the eMPF Platform and the Default Investment Strategy (DIS).

Mrs Lau reiterated that the primary objective of the MPF System is to provide basic retirement protection. It is particularly important to protect the MPF rights of grassroots workers because MPF may probably be their only retirement savings. She added that any MPF non-compliance, including employers failing to make MPF contributions for their employees, would weaken the retirement protection of grassroots workers. The MPFA would take a “zero tolerance” approach against all MPF non-compliance cases.

Mrs Lau believed that with the full launch of the eMPF Platform, together with the abolition of the offsetting arrangement and Government’s MPF contributions for low-income earners, the MPF System will significantly enhance the retirement protection of the grassroots scheme members.

She sincerely thanked the BOKSS for their support to the work of the MPFA over the years and called for their continuous collaboration in disseminating MPF messages to their members and assisting them in the smooth uptake of the eMPF Platform.