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MPFA Managing Director Cheng Yan-chee and MPFA colleagues met with representatives of the Monetary Authority of Macao (AMCM) in Macao on 9 October, exchanging views on the latest developments in the pension systems of Hong Kong and Macao. 

^{MPFA Managing Director Cheng Yan-chee (sixth right), Executive Director of Monetary Authority of Macao Wilson Vong (seventh left) and other representatives.}

Cheng said that the eMPF, which is the most significant reform since the inception of the MPF System and has been in operation for more than a year, has processed over 1.6 million administrative instructions. With more than 60% of these instructions being submitted electronically, it is evident that most scheme members and employers have adapted to using this centralized electronic platform.

While embracing this digital transformation, MPFA will continue to put scheme members’ interests first and enhance the MPF System by implementing various initiatives, including sustainable investing in MPF and “full portability” of MPF benefits.

This meeting was arranged for periodic liaison between the two authorities under the framework of the Memorandum of Understanding signed in 2021 to keep both sides abreast of the latest trends in regulating private pension systems and facilitate closer exchanges and collaboration.