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Government welcomes publication of annual report of Process Review Panel for the Mandatory Provident Fund Schemes Authority
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     The Government today (June 30) welcomed the publication of the 2024 Annual Report of the Process Review Panel for the Mandatory Provident Fund Schemes Authority (PRP), which covered the PRP's review of selected cases closed or discontinued by the Mandatory Provident Fund Schemes Authority (MPFA) in the period between May 1, 2023, and April 30, 2024.
 
     A spokesman for the Financial Services and the Treasury Bureau said, "The PRP has conducted a thorough review of the internal procedures and operational guidelines relating to the MPFA's performance of its core regulatory activities, including the approval and registration of Mandatory Provident Fund (MPF) trustees, schemes and funds, regulation of MPF trustees and intermediaries, regulation of occupational retirement schemes, and handling of complaints. The Report's observations and suggestions will help ensure the fair and consistent exercise of regulatory powers by the MPFA, thereby strengthening public confidence and contributing to the continuous improvement of Hong Kong's retirement protection system.
 
     "We would like to express sincere gratitude to the PRP Chairman, Mr Eugene Fung, SC, and members of the PRP for their dedication in providing comprehensive and insightful comments and recommendations to enhance the work of the MPFA and the operation of the MPF System," the spokesman added.
 
     The PRP is an independent panel established by the Chief Executive to review and advise the MPFA on the adequacy and consistency of its internal procedures and operational guidelines relating to the MPFA’s regulation of MPF intermediaries. Since November 2021, the PRP has been renamed and taken on an expanded role to review the internal procedures of all the MPFA's core regulatory activities.
 
 
Ends/Monday, June 30, 2025
Issued at HKT 17:10
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