Next phase of Hong Kong’s eMPF reform to start in March with more providers, enhancements
Hong Kong's pension regulator will launch the second phase of reforms to digitalize the Mandatory Provident Fund (MPF) operations on March 5, expanding the electronic platform to include more providers and implementing other measures. This follows the successful initial phase of the eMPF Platform launched in June, which saw a high digital usage rate, particularly for contribution data and investment changes.
The eMPF platform aims to streamline the management of HK$1.326 trillion in MPF assets by consolidating the operations of 12 different providers onto a single electronic platform accessible via mobile phones or computers. The first phase involved the onboarding of five smaller providers, representing 2% of assets under management, between June and December, paving the way for the broader rollout in the second phase.
via SCMP Full Text Feed
Hong Kong's pension regulator will launch the second phase of reforms to digitalize the Mandatory Provident Fund (MPF) operations on March 5, expanding the electronic platform to include more providers and implementing other measures. This follows the successful initial phase of the eMPF Platform launched in June, which saw a high digital usage rate, particularly for contribution data and investment changes.
The eMPF platform aims to streamline the management of HK$1.326 trillion in MPF assets by consolidating the operations of 12 different providers onto a single electronic platform accessible via mobile phones or computers. The first phase involved the onboarding of five smaller providers, representing 2% of assets under management, between June and December, paving the way for the broader rollout in the second phase.
via SCMP Full Text Feed
