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The Management Board of the Mandatory Provident Fund Schemes Authority (MPFA) reviewed the preparatory work for implementing the MPF System at its meeting today (Thursday) and found progress in the past few months satisfactory.

MPFA's priorities over the past months had been the establishment of its executive arm and preparation for the licensing exercise.

A spokesman for the MPFA said: "In its review, the Management Board was satisfied with the good progress in the preparation for staff recruitment, selection of office accommodation, tender exercise for the MPFA's Information Management System (IMS) and issuance of MPF guidelines.

"Based on the results of the review, an announcement on the MPF implementation timetable will be made shortly to facilitate preparation by service providers, employers and employees for the launching of MPF schemes before the end of 2000."

The Management Board also discussed the tender exercise for the IMS, through which a consortium was selected to develop the System. The MPFA will proceed to negotiate the detailed terms of the contract with the consortium, which is expected to commence the development work in April this year.

The MPFA has selected the International Finance Centre to accommodate its future office, and is now finalising the lease agreement with the landlord. The spokesman said the MPFA would arrange for fitting out works to start immediately thereafter, with a view to moving into its new office around August this year.

During the meeting, the Management Board also considered proposals on the design of the MPFA's corporate logo submitted by the Hong Kong Independent Advertising Agencies Association, which has offered to undertake the project free of charge.

In addition, six sets of guidelines for MPF service providers were endorsed.

– Ends –

4 March 1999