A TOP-LEVEL team including the great and the good of Hong Kong's pension and fund management industry has been appointed to advise the Government on the setting up of the proposed Mandatory Provident Fund (MPF).
The appointment of a 22-member panel follows the Legislative Council's decision earlier this month to allow the scheme to go ahead and grant $21 million to fund an MPF office.
The team, which will provide technical advice needed to finalise the empowering legislation, includes trustees, custodians, investment managers, pension scheme administrators, accountants, auditors, actuaries and lawyers.
It also comprises representatives from professional associations and industry bodies.
A Government spokesman said the panel, along with the MPF Advisory Board which will be set up shortly, was an essential part of the consultative machinery.
'We will also consult widely with the relevant industries, employers' and employees' groups as well as the relevant panel and committee of Legco to make sure the legislation developed is feasible and widely understood,' he said.
