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The Government announced today (August 22) the appointments to the Mandatory Provident Fund Schemes Authority (MPFA), the Mandatory Provident Fund Schemes Advisory Committee (Advisory Committee) and the Mandatory Provident Fund Industry Schemes Committee (ISC).
The Chief Executive has re-appointed Mr Wong Ting-kwong as the Chairman of the Advisory Committee for a term of two years from November 1, 2014, to October 31, 2016, both dates inclusive.
At the same time, the Financial Secretary, in exercise of the authority delegated by the Chief Executive, has re-appointed Mr Horace Wong Yuk-lun as a Non-Executive Director of the MPFA for a term of two years starting from October 1, 2014, to September 30, 2016, both dates inclusive.
In addition, the Financial Secretary has re-appointed the Chairman, Ms Li Fung-ying, as well as seven incumbent members, and appointed three new members of the ISC for a term of two years from August 25, 2014, to August 24, 2016, both dates inclusive.
With regard to the re-appointment of Mr Wong Ting-kwong as the Chairman of the Advisory Committee, the Secretary for Financial Services and the Treasury, Professor K C Chan, said, "Mr Wong has been Chairman of the Advisory Committee since 2012. He has provided capable leadership and valuable advice to the MPFA on the Mandatory Provident Fund (MPF) System and various aspects of its operation. I trust that with his in-depth knowledge of the MPF System, he will continue to lead the Advisory Committee to give constructive advice to the MPFA in further improving the MPF System."
As for the re-appointment of Mr Horace Wong Yuk-lun as a Non-Executive Director of the MPFA, Professor Chan said, "Mr Wong has been a Non-Executive Director of the MPFA since 2012. During his tenure, Mr Wong has tendered valuable advice on various matters pertaining to the operation of the MPF System and the administration of the MPFA, and has played an instrumental role in making the MPF guidelines. I am sure that he will continue to make invaluable contributions to the MPFA."
Professor Chan also paid tribute to the outgoing members of the ISC, namely Mr Koon Ting-shan, Mr Ng Kwok-kwan and Mr Conrad Wong Tin-cheung, and expressed gratitude for their contribution to the work of the ISC.
The MPFA is a statutory body established in September 1998 under the Mandatory Provident Fund Schemes Ordinance for the regulation and supervision of the MPF System. The MPF System commenced operation in December 2000, with an objective of assisting the working population to accumulate retirement savings. As at end June 2014, the MPF System covered around 2.7 million scheme members with a total net asset value of more than $542 billion.
Following is the membership list of the MPFA with effect from October 1, 2014:
Chairperson
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Ms Anna Wu Hung-yuk
Deputy Chairperson
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Mrs Diana Chan Tong Chee-ching
Non-Executive Directors
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Mr Ip Kwok-him
Mr Andrew Leung Kwan-yuen
Ms Paddy Lui Wai-yu
Dr John Poon Cho-ming
Mr Poon Siu-ping
Mr Philip Tsai Wing-chung
Mr Wong Kwok-kin
Mr Horace Wong Yuk-lun
Secretary for Financial Services and the Treasury (Permanent Secretary for Financial Services and the Treasury (Financial Services) as an alternate)
Secretary for Labour and Welfare (Permanent Secretary for Labour and Welfare as an alternate)
Executive Directors
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Mr Cheng Yan-chee
Ms Alice Law Shing-mui
Mr Darren Mark McShane
Ms Cynthia Hui Wai-yee
The Advisory Committee is a statutory committee established under the Mandatory Provident Fund Schemes Ordinance. It advises the MPFA with respect to the operation of the Ordinance as well as the effectiveness or efficiency of the MPFA.
Following is the membership list of the Advisory Committee with effect from November 1, 2014:
Chairman
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Mr Wong Ting-kwong
Deputy Chairman
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Mrs Diana Chan Tong Chee-ching
Members
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Mr William Chan Che-kwong
Dr Roy Chung Chi-ping
Mr Ip Wai-ming
Mrs Agnes Koon Woo Kam-oi
Mr Larry Kwok Lam-kwong
Mr Fred Li Wah-ming
Ms Ng Wai-yee
Mr Paul Pong Po-lam
Mrs Bethy Tam Ho Kum-man
The ISC is responsible for monitoring the effectiveness of industry schemes and offering advice on ways to improve the administration and operation of the schemes in the interest of scheme members.
Following is the membership list of the ISC with effect from August 25, 2014:
Chairman
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Ms Li Fung-ying
Members
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Mr Chan Sam-choi
Mr Chan Wing-on
Mr Cyras Chin Chi-keung
Mr Kwok Wang-hing
Mr Adrian Li Man-kiu
Mr Ivan Liu Sin-keung
Mr Lawrence Ng San-wa
Mr Tang Ka-hin
Mr Simon Wong Kit-lung
Mr Wong Ping
Mr Cheng Yan-chee
Ends/Friday, August 22, 2014
Issued at HKT 14:01
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