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Appointments to Working Group on eMPF
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     The Government announced today (June 2) the setting up of the Working Group on eMPF to steer the development of an electronic infrastructure to enable standardising, streamlining and automating Mandatory Provident Fund (MPF) scheme administration.
 
     The Working Group will be co-convened by the Deputy Secretary for Financial Services and the Treasury (Financial Services) and the Chief Corporate Affairs Officer of the Mandatory Provident Fund Schemes Authority (MPFA). In the initial stage, the Working Group will focus on building a centralised electronic administration platform to enhance the cost-efficiency of MPF scheme administration. It will later map out the strategy for encouraging employers and employees to manage MPF matters electronically so as to address the problem of the existing high administrative costs due to voluminous paper-based transactions.
 
     Members of the Working Group include the Deputy Government Chief Information Officer (Infrastructure and Operations), the Executive Director (Supervision) of the MPFA and representatives of the 14 MPF approved trustees who are operating MPF schemes. After completing the development of the centralised electronic administration platform, the membership will be expanded to include other stakeholders.
 
     A Government spokesman said, "eMPF will reduce the overall administration costs of the MPF System, creating room for further fee reduction.
 
     "The success of eMPF involves the building and maintenance of an effective centralised electronic administration platform as well as change of user behaviour to reduce paper-based transactions."
 
     The spokesman added, "We will not underestimate the complexity of building the centralised electronic platform, the interfacing of the platform with trustees' systems, data transition, cybersecurity and encouraging users to migrate to paperless transactions."
 
     The Chief Executive set out in his 2017 Policy Address that the next objective of the MPFA is to put in place eMPF to facilitate the standardisation, streamlining and automation of MPF scheme administration. The Financial Secretary has also tasked the Financial Services and the Treasury Bureau to set up a working group to devise the centralised electronic platform.
 
     Following is the membership of the Working Group:
 
Chairpersons
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Mr Eddie Cheung Kwok-choi, Deputy Secretary for Financial Services and the Treasury (Financial Services)
Mr Cheng Yan-chee, Chief Corporate Affairs Officer, Mandatory Provident Fund Schemes Authority
 
Members
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Mr Stephen Fung Yu-kay, Chief Executive Officer, AIA Company (Trustee) Limited
Mr Chu Wing-yiu, Chief Executive Officer, BOCI-Prudential Trustee Limited
Ms Lau Ka-shi, Managing Director and Chief Executive Officer, Bank Consortium Trust Company Limited
Mr Li Siu-kei, Chief Executive, Bank of Communications Trustee Limited
Mr Raymond Ng Kai-man, Director and Chief Executive, Bank of East Asia (Trustees) Limited
Mr Thomas Tam Tsz-kin, Chief Executive Director, China Life Trustees Limited
Mr Wilsome Chow Chung-kin, General Manager, FWD Pension Trust Limited
Mr Andrew Law Lai-wah, Chief Executive Officer, HSBC Institutional Trust Services (Asia) Limited
Mr Phillip Andrew Bretnall, Chief Executive Officer, HSBC Provident Fund Trustee (Hong Kong) Limited
Ms Luzia Rosa Hung, Chief Executive Officer, Manulife Provident Funds Trust Company Limited
Mr Jonas Wong Chun-leung, President, MassMutual Trustees Limited
Mr Arthur John Bacci, Chief Executive Officer, Principal Trust Company (Asia) Limited
Mr Andrew Michael Gordon, Managing Director, Asia, RBC Investor Services Trust Hong Kong Limited
Ms Cynthia Lee Mei-fun, Chief Executive Officer, Sun Life Trustee Company Limited
Mr Victor Lam Wai-kiu, Deputy Government Chief Information Officer (Infrastructure and Operations)
Ms Cynthia Hui Wai-yee, Executive Director (Supervision), Mandatory Provident Fund Schemes Authority
 
Ends/Friday, June 2, 2017
Issued at HKT 16:00
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