Chan Ka-keung: Aims for Semi-Portability Next Year, Intermediary Bill This Session
2011-03-20
Secretary for Financial Services and the Treasury Chan Ka-keung told LegCo he plans to present the intermediary-regulation bill proposal next month, tabling it within this legislative session so the MPF Employee Choice Arrangement (semi-portability) can launch next year if passed.
Timeline
| Step | Timing |
|---|---|
| Bill proposal presented | Next month |
| Tabled for scrutiny | Within this legislative session |
| Semi-portability launch | Next year (if passed) |
Any fee improvement?
On lawmakers’ fee questions, Chan said the MPFA’s online fee platform lists all trustees’ charges: the average fee ratio was 1.85% in 2009–10, down 10% from 2006–07.
Whether the bill passes is the key to semi-portability landing next year. Workers have waited long enough — they don’t want “next year” to become “the year after”. Compare MPF funds’ fees and returns at MPF fund comparison.
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