What Did K C Chan Say About MPF Fees?

What did K C Chan admit about fee-cutting room in June 2011?

In June 2011, Financial Services chief K C Chan admitted MPF fees had room to fall: bond fund expense ratios differed up to 18-fold between AXA and AIA products, and guaranteed funds averaged the highest at 2.34%. He saw lower admin costs and more competition as the route down.

What was the fee trend?

The average fund expense ratio was 1.82% in mid-2009 to early 2010, down over 10% from 2.1% in 2006/07; trustees kept cutting or launching cheaper plans.

How can workers save on fees?

Use the price-comparison platform via MPF fund comparison to find the cheapest decent funds.