HK MPFA Digital Transformation

On Jan. 10, HK MPFA published blog entry on digital reform.

  • MPFA published blog entry on moving towards reform through digital transformation.
  • Transformation
  • Last year, MPFA expanded proportion of MPF funds that can be invested in REITs and the number of markets, and included SSE, SZSE in list of approved stock exchanges.
  • Also issued guidelines on development of retirement investment products to MPF trustees, and the first related product was launched on the market in Sep. 2020.
  • eMPF Platform
  • In 2021, the eMPF platform project will enter an important stage of construction.
  • After completion in 2022, the public's acceptance of digital transformation is expected to have reached a considerable level, which will help drive reform of the MPF system.
  • Plan members can perform a variety of functions in real time, safely and in a paperless manner, such as processing investment instructions, tracking fund performance.
  • SMEs can also generate synergies through digital upgrades, and one-stop solutions for calculating wages and related MPF contributions, greatly saving manpower and time.

Regulators HK MPFA
Entity Types Corp; Fiduciary; IA; Pension
Reference Bl 1/10/2021
Functions Financial; HR; Technology; Treasury
Countries Hong Kong
Products Fund Mgt; Pensions; REITs; Retirement Plan
Regions AP
Rule Type Guidance
Rule Date 1/10/2021
Effective Date 1/10/2021
Rule Id 95197
Linked to N/A
Reg. Last Update 1/10/2021
Report Section International

Last substantive update on 01/12/2021