Diana Chan Tong Chee-ching
"The MPF was set up in a way that was employer based and it let 250,000 employers determine the providers in order to eliminate administrative burdens.Sunday, 4 November, 2012, 4:15am 4 comments
From tomorrow, the city's 2.4 million workers will be free to choose their own Mandatory Provident Fund provider, giving them a much-needed say where their nest egg is invested.
But complaints over the fees charged by providers, who were previously chosen by employers, are expected to continue, and may be the harbinger of further changes to the 12-year-old pension scheme.31 Oct 2012 - 2:53am
"Hong Kong is a free market. However, if free market competition pressure cannot bring fees down we have to consider adding a cap."
Diana Chan Tong Chee-ching, MPF Schemes Authority, SCMP, October 1921 Oct 2012 - 1:39am 3 comments
Hong Kong's pension regulator is considering capping the fees of Mandatory Provident Fund providers amid concerns they are charging too much.
Diana Chan Tong Chee-ching, managing director of the Mandatory Provident Fund Schemes Authority, said yesterday the authority had appointed accounting firm Ernst & Young to carry out a study on ways to reduce MPF fees.19 Oct 2012 - 7:25am 4 comments