Preparing members for launch of ECA

The Mandatory Provident Fund Schemes Authority stepped up its investment-focused educational initiatives in recent years to prepare the working population to take greater control of the management of their pensions.

'These initiatives will help prepare employees for the launch of the employee choice arrangement (ECA), which will give MPF scheme members the option of transferring their accrued benefits from their own mandatory contributions to a trustee of their choice. It will also help employees address their accumulating wealth, and the ageing population plan better for their long-term retirement,' Cynthia Hui Wai-yee, the MPFA's executive director (supervision), said.

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