Hong Kong’s Financial Services and the Treasury Bureau welcomed the publication of the 2024 Annual Report of the Process Review Panel for the Mandatory Provident Fund Schemes Authority (PRP), which reviewed selected cases closed or discontinued by the Mandatory Provident Fund Schemes Authority (MPFA) between May 1, 2023 and April 30, 2024. The Bureau highlighted that the PRP’s observations and suggestions are intended to support fair and consistent use of the MPFA’s regulatory powers and ongoing improvements to Hong Kong’s retirement protection framework. The PRP reviewed internal procedures and operational guidelines underpinning the MPFA’s core regulatory activities, including approval and registration of Mandatory Provident Fund (MPF) trustees, schemes and funds, supervision of MPF trustees and intermediaries, regulation of occupational retirement schemes, and complaint handling. The PRP is an independent panel established by the Chief Executive, and since November 2021 its remit has been expanded from focusing on MPF intermediaries to covering all of the MPFA’s core regulatory activities.
Financial Services and the Treasury Bureau (Hong Kong) 2025-06-30
Hong Kong’s Financial Services and the Treasury Bureau welcomes Process Review Panel annual report on MPFA regulatory procedures
Hong Kong’s Financial Services and the Treasury Bureau acknowledged the 2024 Annual Report of the Process Review Panel for the Mandatory Provident Fund Schemes Authority, assessing cases from May 2023 to April 2024. The report aims to enhance the fair use of MPFA’s regulatory powers and improve Hong Kong’s retirement protection framework. The PRP, an independent panel, reviewed the MPFA’s procedures for trustee approvals, scheme supervision, and complaint handling.