When Would MPF Semi-Portability Land at the Earliest?

What timetable did the MPFA give in 2011?

In March 2011, MPFA chairwoman Anna Wu said intermediary regulation for semi-portability was being drafted for LegCo within the year — meaning implementation in 2012 at the earliest. CEO Diana Chan said the MPFA had been pushing fees down, from 2.1% in 2008 to 1.85%, and expected more index funds from trustees to cut charges further.

How much had fees fallen?

The average fund expense ratio dropped from 2.1% to 1.85% in four years. Members can already shop around at MPF fund comparison for cheaper, decent-performing funds.

Why must legislation come first?

After semi-portability, over two million employees become the sales audience; without statutory intermediary regulation, conduct rules have no legal teeth and member protection gaps open. Better to wait than to rush.