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MPFA Executive Director (Policy) Mr Eric Cheng attended the Hong Kong Trustees’ Association (HKTA) Conference on 16 Nov, sharing MPFA’s major work on trustee supervision. He articulated MPFA’s expectations on trustees in discharging their fiduciary duties and called on the industry to continue to support initiatives for enhancing retirement savings of scheme members. 

Mr Cheng said that MPFA has developed regulatory measures to supervise trustees and issued various codes and guidelines over the years, with a view to guiding the trustees to develop robust corporate governance, proper risk management and strong compliance culture within their organizations. He explained that relevant regulators worked closely with each other to ensure effective and efficient regulation, for protecting scheme members’ interest while facilitating the control of overall costs of the system.

Mr Cheng took the opportunity to thank the industry for their continuous efforts in supporting the enhancement of the MPF System, and looked forward to maintaining close communication with the industry and working together for better retirement protection of scheme members.