MPFA

With a view to encouraging members of "Friends of MPF" to get an early start of retirement planning and manage their MPF, as well as to learn more about the eMPF Platform and anti-scam information, MPFA collaborated with the Investor and Financial Education Council (IFEC) to organize a retirement planning workshop and a financial education experience activity on 14 Sep.

Senior Manager of MPFA Terry Cheung introduced the benefits and the latest developments of the eMPF Platform to "Friends of MPF," and reminded participants to pay attention to the communication pack to be distributed by their MPF trustees. In addition, senior Money Coach Mr Alvin Lam shared retirement financial strategies with participants, helping them to better understand their retirement needs and encouraging them to plan for retirement early.

IFEC has launched a new FinEd Hub this year. MPFA took the chance to engage our participating “Friends of MPF” in the interactive game at their FinEd Farm, one of the facilities in the FinEd Hub to learn about anti-scam information.

Following the MPF management workshop for “Friends of MPF” in January this year, MPFA once again collaborated with the Institute of Financial Planners of Hong Kong (IFPHK) to hold "MPF Management Workshop cum one-on-one retirement planning consultation services” on 25 Mar, to share MPF management skills with “Friends of MPF” and to encourage them to start early in retirement planning.

Dr Keith Yu, Board Member of IFPHK and Certified Financial Planner (CFP) and Ms Anne Kwong, General Manager of Risk Management Unit of MPFA, shared retirement investment strategies and the advantages and latest development of the eMPF Platform project respectively with the participants. A few CFPs provided personalized retirement planning consultation services to participants during the activity, assisting them to better understand their retirement needs, thereby facilitating proper management of their MPF.

To encourage scheme members to take good care of their MPF and get an early start of retirement planning, the MPFA and the Institute of Financial Planners of Hong Kong (IFPHK) co-organized an MPF management workshop cum one-on-one retirement planning consultation session on 7 Jan to exchange views with about 40 “Friends of MPF” on MPF management and retirement planning.

In the workshop, Dr Keith Yu, Board Member of IFPHK and Certified Financial Planner (CFP), shared the retirement investment strategies with the participants, while Mr Paul Yu, General Manager of Product Regulation of the MPFA, shared the latest initiatives on MPF investment. In addition, several CFP professionals from IFPHK also provided personalized retirement planning consultation services to the participants, so as to help them understand their retirement needs for better management of their MPF.

As an integral part of the MPF industry, the views of MPF intermediaries on the eMPF Platform under construction are crucial to its development. With a view to perfecting the design of the eMPF Platform user interface, MPFA and the eMPF Platform Company conducted two virtual sessions of the eMPF Platform front-end portal consultation with “Friends of MPF” who are also MPF intermediaries on 24 and 27 June, sharing the latest developments of the eMPF Platform project, demonstrating key functions of the Self-employed Persons and Third-Party Portal user interfaces, and soliciting their views and comments on the design.

About 160 MPF intermediaries had participated in the two consultation sessions. Their valuable comments would become useful feedback for the contractor to improve the design of the eMPF Platform user interface, making it easier and more convenient to use.

MPFA, together with representatives of the eMPF Platform Company and the contractor of the eMPF Platform project, conducted two virtual sessions of the eMPF Platform front-end portal consultation with about 60 “Friends of MPF” on 21 May, to share the latest developments of the eMPF Platform, demonstrate key functions of scheme members including user interfaces for employees and Self-employed Persons, and solicit their views on the design of the user interface accordingly.

The “Friends of MPF” programme was launched in Dec 2010 with an aim to directly engage with the public and enhance their understanding of the MPF System.  Currently, over 10 000 members of the public have joined as our Friends. Mr Eddy Chan, General Manager of External Affairs of the MPFA thanked the “Friends of MPF” for their active participation in this consultation exercise, and looked forward to having their continuous support when the eMPF Platform is launched.

At the consultation sessions, the appointed contractor responsible for designing and building the eMPF Platform introduced the design and basic functions of front-end portal of the Platform and demonstrated common scenarios of MPF administration according to scheme members’ needs. Mr Jonathan Ho, Director of External Affairs of the MPFA, thanked the participants for their valuable comments and suggestions, and expressed that scheme members’ views are crucial to the design of the user interface of the eMPF Platform which would become useful feedback for the contractor to perfect the design. He looked forward to having their keen support when the eMPF Platform is launched.

To listen to the views of MPF scheme members about the MPF System, MPFA held a MPF 20th Anniversary Virtual Discussion Session with “Friends of MPF” on 17 July to recount the developments of the MPF System over the past two decades, share useful tips on managing MPF investment and gauge members’ views on the MPF and other retirement investment issues. Please click to watch the video highlight of the event! (in Chinese only)

Mr Cheng Yan Chee, Acting Managing Director of the MPFA revealed that the MPF System has recently accumulated $1.2 trillion accrued benefits which is a sizeable retirement reserve for the Hong Kong work force. He reiterated that the System will be further enhanced to meet with the needs of scheme members. He also expounded the vision of MPFA – making the MPF System a retirement protection system in which Hong Kong people could take pride. Meanwhile, Mr Joseph Lee, Director (Product Regulation) of the MPFA, reminded scheme members that as their MPF benefits grew, they should take proactive steps to manage their MPF, in particular leveraging on the electronic tools provided by the MPFA so as to achieve a promising retirement life.