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MPFA Articles

April 2020

Managing MPF during Home Office Period 
 
Under the booming trend of digital transformation, we have all experienced the importance of digital tools especially during the current “work from home” arrangement which aims to stop the spreading of novel coronavirus. The MPFA always encourages employers and scheme members to handle MPF matters through digital means, including different digital services provided by trustees and digital tools provided by the MPFA including the e-Enquiry of Personal Account (ePA) platform and the one-stop MPF Fund Platform (MFP). Scheme members can manage their MPF easily without having to leave home.
 
e-Enquiry of Personal Account (ePA) platform
 
Some employees may have forgotten to amend their investment instructions of their MPF account when they quit their jobs. The contribution account will become personal account and keep investing under the original MPF scheme. They will open a new MPF account whenever they have a new job. Therefore, it is common for some MPF scheme member to have more than one personal account if they change job frequently without consolidating their accounts.
 
The e-Enquiry of Personal Account (ePA) platform and ePA mobile application that launched by the Mandatory Provident Fund Schemes Authority (MPFA) allow scheme members look up the report of their MPF personal accounts anytime, anywhere using their computer, smartphone or tablet computer free of charge. Through these platform and mobile app, scheme members can check whether he or she has any personal accounts and, if so, the name and contact number of the trustee concerned.
 
Scheme members can get the ePA service online, which is easy and simple to activate with the verification of identity by providing copies of your Hong Kong Identity Card and residential proof of recent three months.
 
MPF Fund Platform (MFP)
 
MPF Fund Platform (MFP) is another useful digital tool that helps managing the MPF. The Platform, which amalgamates the existing Fund Performance Platform, Fee Comparative Platform, Low Fee Fund List and DIS (Default Investment Strategy) Fund List, provides a one-stop solution for MPF scheme members to examine information about different MPF funds and compare their management fees and investment performance, etc. The Platform reveals in detail each of the components under the management fees of MPF funds, namely the administration fee / trustee fee / custodian fee, the sponsor fee, and the investment management fee, so as to provide scheme members with more relevant information and do comparison.
 
Other than the web online platform, the supplemented mobile application provides a one-stop platform for the public to view information about different MPF funds and compare their management fees and investment performance, etc. The personalized feature of this mobile application allows scheme members to store up to 10 MPF funds for making comparisons in “My Selection” with a choice of three interface styles, namely table, chart and side-by-side view to suit their own preferences.
 
Scheme members are recommended to use the handy and practical digital tools provided by the trustees and the MPFA to integrate and management MPF accounts and review investment performance on a regular basis.

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