The MPFA announced today (2 May) the launch of the eMPF Platform (the Platform) on 26 June 2024. The first two MPF trustees, YF Life Trustees Limited (YF Life) and China Life Trustees Limited (China Life), will get onboard the eMPF Platform on 26 June and 29 July respectively. The remaining MPF schemes will join the Platform one by one in ascending order of the value of MPF assets under management by the trustees, and all MPF schemes are expected to complete onboarding the Platform by end 2025.

The MPFA held the MPF Symposium today (12 December), titled “Embrace, Enrich, Evolve: The Future of MPFTech”, to explore with the MPF industry how to adopt MPFTech to accelerate digitalization and enhance user experience, as well as related opportunities and challenges.

MPFA Chairman Mrs Ayesha Macpherson Lau published her latest blog post today (16 July), highlighting that the MPFA and eMPF Platform Company have been supervising the contractor with full force to expedite the eMPF Platform project, the largest reform initiative since the implementation of the MPF System. The eMPF project made phased progress last month with the software development largely completed, which means that the 20-plus core functions of the system will soon be ready, laying a solid foundation for the smooth and efficient operation of the Platform in the future.

The MPFA today (3 March) announced the appointment of two new non-executive directors (NEDs) and the re-appointment of eight incumbent NEDs to the Board of Directors of eMPF Platform Company Limited (eMPF Company) for a term of two years.

The eMPF Platform Company Limited (the Company) today (9 September) announced that the Financial Secretary and the MPFA have approved the appointment of Mr Eric Lui Chi-kin as Chief Executive Officer (CEO) and Executive Director (ED) of the Company for a term of 3 years with effect from 9 September 2022.

In her latest blog post published today (28 August), MPFA Chairman Mrs Ayesha Macpherson Lau emphasized that it is essential to listen to a broad range of stakeholders’ opinions, to help the project contractor of the eMPF Platform refine the front-end portal design to meet the users’ expectation for a “simple, easy and convenient” platform to facilitate management of MPF administration processes via digital means.

MPFA Chairman Mrs Ayesha Macpherson Lau today (30 January) published a blog post, which indicated that as at the end of December 2021, total MPF assets recorded year-on-year growth of 4%, amounting to $1.18 trillion. Total MPF assets have grown 232% over the past 10 years, reflecting the continuous and steady development of the MPF System. According to an estimate as at the end of 2021, the average MPF assets held by each MPF scheme member amounted to $258,000, an increase of 164%, from $97,000 10 years ago.

MPFA Chairman Mrs Ayesha Macpherson Lau today (30 December) published a blog post recounting the steady development of the MPF System in various areas over the past year. As at the end of November 2021, the total MPF assets amounted to about $1.17 trillion, recording a year-on-year increase of 6%, including more than $390 billion in investment returns, net of fees and charges. The annualized net rate of return was 4.3% since the inception of the MPF System in 2000, higher than the inflation rate of 1.8% over the same period.

MPFA Chairman Mrs Ayesha Macpherson Lau today (24 October) published her latest blog post, in which she pointed out that the passage of the Mandatory Provident Fund Schemes (Amendment) Bill 2021 (the Bill) by the Legislative Council on this past Friday provided the legal basis to further facilitate the development and implementation of the eMPF Platform project. This marked an important milestone for this mega project concerning the local working population and employers.

The MPFA welcomes the passage of the Mandatory Provident Fund Schemes (Amendment) Bill 2021 (the Bill) by the Legislative Council (LegCo) today (22 October 2021).