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The following is issued on behalf of the Mandatory Provident Fund Schemes Authority:
The Mandatory Provident Fund Schemes Authority (MPFA) spokesman today (February 24) said the Authority welcomed the industry's plan to provide fee concessions for the Government's injection project.
The spokesman said that the MPFA met with representatives of MPF trustees this morning, urging them again to answer to the public's call for further fee reduction. At the MPFA Management Board meeting held this afternoon, the Board discussed the issue of calling on trustees to reduce fees. At the meeting, the Board noted that trustees planned to offer fee concessions for the injection. The MPFA would continue to call on them to reduce fees at a faster pace and on a larger scale so that more scheme members can benefit.
Ends/Thursday, February 24, 2011
Issued at HKT 20:12
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