Why Did Officials Say MPF Fees Had Room to Fall?

What Was the Official View on MPF Fees?

Au King-chi, Permanent Secretary for Financial Services and the Treasury, said MPF management and administration fees had room to come down, and the MPFA was studying how to boost transparency so the public could compare charges.

How Would “Semi-Portability” Change Transferable Assets?

Au said only 30% of assets were transferable now, rising to 70% once “semi-portability” took effect. The government aimed to start the legislative process within the year.

What Was Planned for Intermediary Regulation?

The MPF regulatory regime would cover both corporate and individual intermediaries. Corporate intermediaries would need rigorous internal controls and a designated supervisor; individual practitioners would be policed mainly on personal conduct.
With fees still having room to fall, members should shop around — compare MPF funds on management fees and expense ratios.