MPF managers have "nowhere to hide" as regulator pushes for governance report
The transparency created under a proposed "value for money" report is expected to improve the governance of the Hong Kong pension scheme and boost members’ confidence in the hundred-billion-dollar system that has been in the red this year.
Hong Kong’s pensions industry welcomes the regulator’s new requirement to submit an annual governance report that publicly discloses metrics such as fund performance, fee levels, and other charges.
It comes while the city’s pension system has been under pressure and criticism from the public for its poor performance in the past 12 months.
This new initiative to enhance transparency of governance reporting of the Mandatory Provident Fund (MPF) was put forward by the Mandatory Pro…
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