eMPF group formation announced

(June 02, 2017)

A working group has been formed to steer the development of an electronic infrastructure to enable the standardising, streamlining and automating of Mandatory Provident Fund scheme administration.
 
The Working Group on eMPF will be co-convened by the Deputy Secretary for Financial Services & the Treasury (Financial Services) and the Chief Corporate Affairs Officer of the Mandatory Provident Fund Schemes Authority.
 
The working group will initially focus on building a centralised electronic administration platform to enhance the cost-efficiency of administering the MPF scheme.
 
It will later map out strategy to encourage employers and employees to manage MPF matters electronically to address the problem of high administrative costs due to voluminous paper-based transactions.
 
Click here for the group's membership list.