Council Meetings (Oral Question): Policies on Retirement Protection (2017.11.01)

MR CHAN KIN-POR (in Cantonese): If we look for a meaningful rate of return for comparison, we should not simply calculate the average return rate of all funds carrying high, medium and low risks. I would like to point out that the MPF system is offering some index funds which are similar to the Tracker Fund. As at September, the highest return rate of such funds net of the administration fee is 30.7%, comparable to that of the Tracker Fund. If we are a bit aggressive and pick the Hong Kong equity funds, the best performed fund records a return of 37% net of the administration fee. So, the MPF system actually provides a variety of fund choices.

Despite the many fund choices in the MPF system, quite a number of Hong Kong people know very little about the system. This is not desirable. Hence, I would like to ask the Government what measures MPFA will take to let the public have a good grasp of the return rates of funds and the operation of the MPF system, with a view to making them understand the huge benefits the MPF system can bring to them. May I ask what the Government will do in this respect?

SECRETARY FOR FINANCIAL SERVICES AND THE TREASURY (in Cantonese): Deputy President, on the education front, as I have said just now, MPFA has set up online comparative platforms for MPF, including the Fee Comparative Platform for MPF Funds and the Trustee Service Comparative Platform. We will step up our efforts to help users understand more about the relevant services.

Earlier on, I have said that MPFA would launch an enhanced platform on its website in February next year to provide additional information on fund performance as well as risk and fee levels. The objective is to provide scheme members with more information to facilitate their effective selection of funds that suit their investment needs and risk appetites.

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