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- MPFA shares the latest developments of the MPF System at the Asian Actuarial Conference (23 October 2024)
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MPFA shares the latest developments of the MPF System at the Asian Actuarial Conference (23 October 2024)
MPFA Chief Operating Officer Ms Cynthia Hui participated in a panel session at the 2024 Asian Actuarial Conference organized by the Actuarial Society of Hong Kong on 23 October. She highlighted the latest developments of the MPF System and the MPFA’s efforts to cater for retirement savings needs of MPF scheme members in both accumulation and decumulation phases. She mentioned that the implementation of the eMPF Platform could improve efficiency of the MPF System, and reviewing minimum and maximum relevant income levels for MPF mandatory contributions as well as encouraging voluntary contributions could help address adequacy issues and combat longevity risk. Ms Hui encouraged the industry to develop holistic solutions to help meet retirement savings needs of MPF scheme members. About 1000 participants from Asia and around the world attended the Conference.
Ms Hui emphasized that the MPFA has always been putting scheme members’ interests first and has launched different initiatives to enhance the adequacy and efficiency of the MPF System. The MPFA will continue to drive various reform measures to improve the operations of the MPF System.
