New MPF Platform Will Slash Admin Costs: Govt
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2022-03-30 HKT 16:03
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Secretary for Financial Services and the Treasury Christopher Hui says a future "one-stop shop" online platform for the Mandatory Provident Fund is expected to cut admin costs by 30 percent.
The eMPF platform, for members to manage their accounts online and through mobile applications, is scheduled to be rolled out next year and become fully operational by 2025.
Hui said some HK$30 billion in admin costs could be avoided a decade after the platform's full launch.
The minister also said he hopes the legislature can pass a bill this year that will provide tax relief for firms running family investment management.
Hui was speaking on RTHK's Overview Policy programme which is to be broadcast on Wednesday evening.
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