Skip to Content
MPFA

Public Accountability

Management of Conflicts of Interest

The MPFA adopts a two-tier system of declaration of interest.

Directors of MPFA are required to make a general disclosure of their interests on appointment to the Management Board, review the disclosed information on an annual basis, and notify the Management Board promptly of any changes.

Directors are also required under section 7 of Schedule 1A to the Mandatory Provident Fund Schemes Ordinance (MPFSO) (Chapter 485, Laws of Hong Kong) to report the nature of a pecuniary interest in a matter placed before the Management Board if the interest appears to raise a conflict with the proper performance of the director’s duties in relation to the consideration of the matter. Particulars of the disclosure made at Management Board meetings are recorded in a register available for public inspection.


Reporting

In accordance with section 6J of MPFSO, MPFA prepares and submits a corporate plan and a budget of estimated expenditure to the Financial Secretary of Hong Kong for approval before the start of each financial year.

In accordance with section 6I of MPFSO, MPFA delivers an annual report, together with audited financial statements and auditor's report, to the Financial Secretary of HKSAR. The MPFA’s financial statements are prepared in accordance with the accounting standards, reporting standards and interpretations promulgated by the Hong Kong Institute of Certified Public Accountants and the accounting and reporting standards, if any, notified in writing by the Financial Secretary of HKSAR under section 6N(3) of MPFSO.

The Chief Executive of HKSAR may also give directions with respect to the exercise by MPFA of its functions.


Code of Conduct for Directors

A code of conduct for directors is in place to give clear guidelines on conduct issues. The Code incorporates the key conduct rules specified in the Prevention of Bribery Ordinance, MPFSO, and MPFA’s Standing Orders.
 

Code of Conduct for Staff

MPFA staff must observe a code of conduct such that they behave in a way consistent with the expectations for public officers. The Code provides specific guidelines on various issues, such as confidentiality of information, the offer and acceptance of advantages, avoidance of conflicts of interest, and declaration of financial and other interests.

The Memorandum on Conditions of Service signed by staff upon joining MPFA and the confidentiality provision under MPFSO impose contractual and statutory obligations on staff members to keep confidential any information obtained in the course of performing their duties in MPFA.  A senior staff member must obtain prior approval if, within six months (or 12 months in the case of directorate staff) after leaving service, he/she wishes to take up employment in Hong Kong that may constitute a conflict of interest with that of MPFA.


Communication with the Public

To enhance transparency and engagement with stakeholders and the public at large, MPFA takes care to communicate news about MPF and latest development of the MPF System and MPFA through MPFA’s website, media events, press releases, publicity and public education activities, and various publications such as the quarterly Statistical Digest and MPFA Newsletter, to facilitate understanding of the MPF System. Information is disseminated through various channels, including online channels like this website, social media platforms and mobile applications.

Last Revision Date: 17/04/2018