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The following is issued on behalf of the Mandatory Provident Fund Schemes Authority:
Would you like to know how your MPF funds are invested? Or what fees and charges are being charged by service providers or trustees? What are the latest MPF fund prices? Want to check whether your employer has made MPF contributions on your behalf, or the total amount of your contributions in the past year?
Many MPF scheme members surely have these questions in mind at some point during their lifelong MPF investment journey.
In view of these questions, the Mandatory Provident Fund Schemes Authority (MPFA) recently published a booklet entitled "Getting Information about Your MPF" to help scheme members get a better grasp of various types of MPF information and to further enhance the transparency of the MPF System.
The booklet introduces the documents that MPF trustees or employers are obliged to provide or make available to scheme members under statutory requirements, including offer documents, fee tables, Fund Fact Sheets and Annual Benefit Statements. It also lists a number of frequently asked questions and answers relating to possible scenarios that scheme members might encounter when they look for MPF information. For example, what kinds of document should scheme members read when they first enrol in an MPF scheme? Where can they get information about the types of fund that a scheme provides? What documents should members get when changing jobs or retiring?
An MPFA spokesperson said the MPFA has been taking different measures to enhance the transparency of the MPF System and has been using different channels – for instance, publications, publicity and investment-education programmes – to provide information to deepen scheme members’ understanding of the MPF System and their MPF investments. The spokesperson reminded scheme members to regularly review their MPF investment portfolio in light of their changing personal circumstances and to make adjustments to the portfolio when necessary.
The booklet has been posted on the MPFA website (www.mpfa.org.hk) and is also available for collection at MPFA offices, Public Enquiry Service Centres of District Offices, regional offices of the Labour Department, and Consumer Advice Centres of the Consumer Council. The public may also call the MPFA hotline at 2918 0102 for any enquiries about MPF.
Ends/Sunday, May 8, 2011
Issued at HKT 15:01
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