Diana Chan Tong Chee-ching

MPF chief seems determined to be an enemy of the people

Diana Chan Tong Chee-Ching, Managing Director of Mandatory Provident Fund. Photo: Felix Wong

"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

MPF changes first step on road to reforms

Hong Kong employees will get the right to choose where they want to invest some of their pension funds from tomorrow. Photo: Bloomberg

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

Fund provident in name but certainly not in practice

Managing director Diana Chan said that when the MPF started 12 years ago, fees were high because the fund was small. Photo: Felix Wong

"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 19

21 Oct 2012 - 1:39am 3 comments

Hong Kong's pension fund authority considers capping fees amid criticism

Managing director Diana Chan said that when the MPF started 12 years ago, fees were high because the fund was small. Photo: Felix Wong

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