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MPFA organises symposium to discuss the roadmap and challenges of the eMPF Platform

The MPFA today (6 September) held a symposium, titled “The eMPF Platform: A new digital era for the MPF”. For the first time, the MPFA featured technology at its symposium to discuss the roadmap and challenges of digital transformation of pension systems, and introduce the latest developments of the eMPF Platform.

The MPFA was entrusted by the Government to standardize, streamline and automate the MPF scheme administration processes by developing the eMPF Platform, aiming to provide a one-stop, user-centric, common digital platform to all scheme members.

Secretary for Financial Services and the Treasury Mr James Lau, who was the Guest of Honour of the symposium said, “Since the implementation of the MPF System in 2000, the Government and the MPFA have introduced improvement measures from time to time to refine and reform the MPF System. For the MPF industry, fintech will surely catapult the entire industry into a new age of open architecture and enhanced operational efficiency. The eMPF Platform is a change management project which involves a reshaping of the MPF ecosystem. It will help to level the playing field for all industry players and encourage market competition by rationalizing administration processes and reducing overhead costs.”

In the opening address at the symposium, MPFA Deputy Chairman and Managing Director Ms Alice Law said, “Our vision is to deliver a comprehensive MPF scheme administration service to over 4 million members and about 300,000 employers. With the support of the Government and the MPF industry, we are ready to take the eMPF project forward in accordance with the planned schedule, with the issuance of a Request for Proposal within this year. This symposium provides us with the opportunity to listen to views across various sectors and learn from each other so we can better prepare for this tendering process.”

She added, “The eMPF Platform represents the single largest reform of the MPF System to date, which will bring substantial benefits to all MPF stakeholders. With one single log-on (an MPF ID), scheme members could easily manage their MPF accounts, wherever and whenever they want. For employers, the savings in costs and time will be even more phenomenal by finishing all the administrative work digitally with the added convenience of using payment channels that connect all banks in Hong Kong and allow instant fund transfer on a 24/7 basis such as the FPS Faster Payment System.”

The MPFA will continue to gauge the views of various stakeholders. Overseas operators and fintech experts are welcome to share their experience and thoughts on the operations, functionality design, service models and transition arrangements with the MPFA, and participate in building a platform that could balance the needs of different stakeholders and serve the needs of the users at large.

Assistant Commissioner of the Australian Tax Office Mr Jason Lucchese and Chief Operating Officer of the United Kingdom’s National Employment Savings Trust Corporation Mr Nick Sex shared their experience regarding the opportunities and challenges of digital transformation of the pension systems in the two countries. They also offered their views and suggestions for the development of the eMPF Platform, among which stakeholder engagement is one of the most crucial factors for the success of the project.

Other guest speakers at the Symposium included Deputy Chief Executive of the Hong Kong Monetary Authority Mr Howard Lee; Government Chief Information Officer Mr Victor Lam; Legislative Councillor representing the Information Technology Functional Constituency Hon Charles Mok; Chairman of Pension Schemes Association Mr K P Luk; Vice-Chairman of Hong Kong Trustees’ Association Ms Lau Ka-shi; and MPFA Executive Director (Members) Ms Cynthia Hui.

The event attracted about 300 participants, including MPF trustees and pension industry practitioners, representatives from financial regulators, local and overseas IT professionals, academics, and experts on overseas pension systems.

Full speech of Ms Alice Law


MPFA Deputy Chairman and Managing Director, Alice Law, said the eMPF Platform represents the single largest reform ever carried out by the MPFA, and at the same time it represents the beginning of a new era for the MPF eco-system.


Secretary for Financial Services and the Treasury, James Lau, was the Guest of Honour of the symposium.


MPFA Executive Director, Cynthia Hui (second from right), discussed how digital innovation can help transform and reshape the MPF landscape with other guest speakers of the symposium’s discussion panel: Chairman of the Pension Schemes Association, K P Luk, Vice-Chairman of Hong Kong Trustees’ Association, Lau Ka-shi, and Legislative Councillor representing the Information Technology Functional Constituency, Hon Charles Mok. (from left to right)


About 300 representatives from MPF trustees, the pension industry, financial regulators, professionals from the IT sector, academics and experts on overseas pension systems attended today’s symposium.

-Ends- 

6 September 2019

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Last Review Date: 16/09/2019