What Did Chairman Anna Wu Say About Fees?

What did she say in November 2010?

On MPF’s tenth anniversary, MPFA chair Anna Wu said providers’ fees still needed further cuts, faster; providers could develop simple low-cost products. The MPFA was also building an IT platform to ease benefit transfers between schemes, standardising admin to cut costs and boost efficiency. She added that universal retirement protection demands were strong and hoped the government would review MPF’s role comprehensively.

What’s the lesson?

The chair herself urged faster fee cuts — cheaper is the trend; workers needn’t wait, with low-fee funds already at MPF fund comparison.