The operator of Hong Kong’s Mandatory Provident Fund (MPF) has tightened its online security by scrapping an electronic verification system after scammers used forged identity cards to open accounts and steal residents’ pensions. Ayesha Macpherson Lau, chairwoman of the Mandatory Provident Fund Schemes Authority, said in a blog post on Sunday that the authority had…
The electronic platform of the Mandatory Provident Fund (eMPF) is expected to reach its fee cut target five years ahead of schedule and could save the scheme’s 4.75 million members HK$50 billion (US$6.4 billion) in less than 10 years, according to the chairwoman of the pension regulator. The Mandatory Provident Fund Schemes Authority (MPFA) revised…
The Mandatory Provident Fund (MPF) turns 25 years old this month, with most of its pension funds delivering solid returns that have enabled all but the most conservative members to outpace both inflation and bank deposits, according to data from the pension regulator. The year-to-date net investment return of the MPF stood at 15 per…
The city’s pension regulator has begun a review of regulations related to a fee cap for a popular investment option under the Mandatory Provident Fund (MPF), as Hongkongers get older and work past the traditional retirement age. In a recent interview, chairwoman Ayesha Macpherson Lau of the Mandatory Provident Fund Schemes Authority (MPFA) said the…
The city’s pension regulator has begun a review of regulations related to a fee cap for a popular investment option under the Mandatory Provident Fund (MPF), as Hongkongers get older and work past the traditional retirement age. In a recent interview, chairwoman Ayesha Macpherson Lau of the Mandatory Provident Fund Schemes Authority (MPFA) said the…
The 4.75 million members of Hong Kong’s Mandatory Provident Fund (MPF) could save up to HK$50 billion (US$6.4 billion) in fees over a 10-year period after its electronic platform’s full implementation next year, according to the city’s retirement schemes regulator. The Mandatory Provident Fund Schemes Authority (MPFA) revised its original estimate made a few years…
Fees charged by Hong Kong’s Mandatory Provident Fund have dropped by 36 per cent since the launch of its centralised digital platform last year, with more than 2.7 million members and 70,000 employers to be managed under the new system by August, the scheme’s chief has said. But Mandatory Provident Fund Authority chairwoman Ayesha Macpherson…
Fees charged by Hong Kong’s Mandatory Provident Fund have dropped by 36 per cent since the launch of its centralised digital platform last year, with more than 2.7 million members and 70,000 employers to be managed under the new system by August, the scheme’s chief has said. But Mandatory Provident Fund Authority chairwoman Ayesha Macpherson…