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The Government announced today (Wednesday) that the Chief Executive has appointed the Mandatory Provident Fund Schemes Advisory Committee.

The Advisory Committee will provide advice to the Mandatory Provident Fund Schemes Authority (MPFA) with respect to the operation of the MPF Schemes as well as the effectiveness and efficiency of the Authority.

The 12-member Advisory Committee will be chaired by Professor Nelson Chow Wing-sun from the University of Hong Kong. The Managing Director of the MPFA is appointed as the Deputy Chairman.

A Government spokesman said that the membership of the Advisory Committee comprises professionals from the banking, insurance, fund management and retirement schemes management sectors as well as academics, employer and employee representatives. Some members of the political parties are also appointed.

"We believe the broad-based and balanced membership of the Advisory Committee will enable it to give valuable advice to the MPFA on issues relating to the running of MPF schemes," the spokesman said.

"The MPF is a new and important system for all members of the workforce in Hong Kong. Proper implementation of the system relies heavily on the work of the MPFA as well as the advisory support given by the Advisory Committee," he added.

"The MPFA welcomes the appointment of the MPF Schemes Advisory Committee and looks forward to having the advice of the Committee in due course," said the Chairman of the Management Board of the MPFA, Mr Charles Lee Yeh-kwong.

The members of the Advisory Committee are as follows:

Chairman

Prof Nelson Chow Wing-sun

Deputy Chairman

Managing Director of the Mandatory Provident Fund Schemes Authority

Members

The Hon Bernard Chan

The Hon Chan Yuen-han

The Hon David Chu Yu-lin

Mr Richard Haw

The Hon Ho Sai-chu

Mr Victor Lo Chung-wing

The Hon Ng Leung-sing

Mr Poon Siu-ping

The Hon Sin Chung-kai

Mr Peter Wong Hong-yuen

End/Wednesday, September 30, 1998

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