"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.
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.
"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...
Hong Kong's pension regulator is considering capping the fees of Mandatory Provident Fund providers amid concerns they are charging too much.