2005-06
MPFA’s objectives for the financial year 2005-06 were: |
| (a) |
To strengthen public support and deepen their understanding
of the MPF
System and MPF investment; |
| (b) |
To uphold the credibility and integrity of the MPF System through
rigorous
regulation, supervision and enforcement actions; and |
| (c) |
To enhance MPFA's capabilities, quality of service and accountability. |
|
| |
| The major results of pursuing
the above objectives are: |
| STRATEGY |
MAJOR RESULTS |
MORE
INFORMATION |
| Enhance public education, focusing on
the
MPF System,
investment and
financial
planning for
retirement |
– |
Organized a six-month MPF Investment Education
Campaign from October 2005 to March 2006 to encourage scheme members
to take better care of their MPF accounts through acquiring more
in-depth knowledge of MPF investment |
Link |
| – |
Revamped the MPFA's website to enhance its functions
and interactivity |
Link |
| – |
Devised and carried out education and publicity programmes
for different target groups on various aspects of the MPF System
and the concept of
early financial planning for retirement |
Link |
| Reinforce supervision and regulation
of
MPF and
ORSO
schemes and
enforcement
actions |
– |
Released the Compliance Standards on 28 July 2005
for the guidance of approved MPF trustees in establishing a structured
framework for monitoring their compliance with statutory duties and
responsibilities |
Link |
| – |
Completed preparing the MPF Schemes (General) (Amendment)
Regulation 2006, covering 11 proposals related to amendments to investment
rules, to be put forward to the Legislative Council |
Link |
| – |
Recovered $80.2 million of default MPF contributions
on behalf of employees |
Link |
| Drive organizational
advancement through developing the corporate culture, human resources
and support
systems |
– |
Reorganized the work and resources of the Supervision
and Enforcement Divisions to facilitate the implementation of risk-based
supervisory and
regulatory approaches and to provide a "through-train" service in investigation
and debt recovery |
Link |
| – |
Promoted the core value of "Quality" by sharing with
staff quality management concepts and practices in the MPFA and other
organizations |
Link |
| – |
Actively participated in community work and awarded
the "Caring Organization 2005-2006" logo by the Hong Kong Council
of Social Service |
Link |
| – |
Completed the development of a new computer application
system, ORSO Record Management System, to replace the Occupational
Retirement
Schemes System for higher efficiency |
Link |
2006-07
The MPFA's work programmes are developed and implemented with a planning
horizon of three-to-five years. In our annual planning exercise, we
review and refine our objectives, and formulate strategies to achieve
the objectives. The
MPFA's work emphases for 2006-07 are reflected in the following objectives and
strategies: |
| |
| OBJECTIVES |
STRATEGIES |
| To ensure that the MPF System fulfills
its role in
providing retirement
protection |
(1) |
Enhance efficiency of and reduce risks associated with
MPF products |
| (2) |
Develop a better understanding of the extent of retirement
protection that the MPF System
can provide |
| (3) |
Cultivate a strong compliance culture among approved
trustees and service providers |
| (4) |
Refine enforcement approach through preventive measures
and effective utilization
of resources |
| (5) |
Continue to refine MPF legislation and guidelines to
improve the effectiveness and
efficiency of the MPF System |
| To strengthen public support and deepen
their
understanding of the MPF
System and investment |
(1) |
Lobby and enlist public support through networking with
stakeholders and reaching
out to the community |
| (2) |
Deepen the public's knowledge of the MPF System and
investment through effective promotion and education efforts for selected
target groups |
| (3) |
Enhance MPFA's image through proactive
issue management |
| To ensure that the MPFA
has
the ability to deliver the
planned programmes |
(1) |
Proactively attract, retain and motivate competent and
experienced staff and develop
their potentials |
| (2) |
Enhance the knowledge and information capabilities of
the MPFA |
| (3) |
Fortify business infrastructure through enhancement
of organization structure,
processes and facilities |
© 2006 Mandatory Provident Fund Schemes Authority. All rights reserved.