What's New

MPFA attended a staff meeting of The Federation of Hong Kong and Kowloon Labour Unions (FLU) on 11 April introducing the benefits and major functions of the eMPF Platform. The eMPF Outreach Team also set up registration counters at the event to assist attendees with registration.

MPFA Director (External Affairs), Jonathan Ho, said that since the launch of the eMPF Platform in June last year, five MPF trustees with six schemes have joined the eMPF platform. Registered scheme members can view all their MPF accounts at a glance via their smartphones or on the Internet. He added that the eMPF operates on a non-profit basis. The average administration fee of MPF funds is expected to reduce by 36% in the first two years. A cumulative cost saving of $30 billion to $40 billion is expected over a 10-year period, which is equivalent to a reduction in administration fee from 41% to 55%.