The Mandatory Provident Fund Schemes Authority is reviewing the space for reducing the administrative fees of the MPF Easy

The Mandatory Provident Fund Schemes Authority stated that out of 24 Mandatory Provident Fund schemes, 22 have joined the MPF Easy platform, with a total of 180,000 employers and 1.52 million employees registered, processing 5.84 million transactions. The remaining two industry schemes, specifically for temporary employees in the construction and catering industries, will join in March and April, respectively. The platform's usage rate has recently reached 70%, and there is confidence that it can increase to 90% by 2029.

The Chief Executive Officer of the Mandatory Provident Fund Schemes Authority, Cheng Yan-Che, stated that the administrative cost target for the MPF Easy platform next year is to reduce from 37 basis points to below 30 basis points, and there will be continuous reviews for further reductions in the future