New MPF Platform Will Slash Admin Costs: Govt
"); jQuery("#212 h3").html("
"); });
2022-03-30 HKT 16:03
Share this story
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.
Ant International And Bank Of China Partner To Enhance Cross-Border Payment Connectivity
Ant International and Bank of China (Hong Kong) (“BOCHK”) announced a partnership which leverages BOCHK’s banking... Read more
BitGo Korea Gets Green Light For Virtual Asset Custody, Backed By SK Telecom
BitGo Holdings, Inc. (BitGo) announced that its subsidiary, BitGo Korea, Inc. (BitGo Korea), received its Virtual Asset... Read more
Webinar: When Account Takeover Moves Past Onboarding
Account takeover shows why fraud risk cannot be treated as an onboarding problem. Fraudsters are using stolen credentia... Read more
JCB To Trial Stablecoin Payments In Japan With Digital Garage And Lawson
JCB Co., Ltd. (JCB), Digital Garage, Inc. (Digital Garage), and Lawson, Inc. (Lawson) announced that they have jointly ... Read more
Bonnie Chan To Lead HKEX Until Feb 2030 After Securing Second Term
The HKEX Board of Directors has approved the renewal of the employment contract of Hong Kong Exchanges and Clearing Lim... Read more
Ripple Signs Its First Korean Regional Bank In Cross-Border Remittance Deal
Ripple, a blockchain-based enterprise solutions provider for traditional and digital finance, announced a partnership w... Read more