Hong Kong's Mandatory Provident Fund Schemes Authority: will continue to promote the reduction of administrative expenses for the Mandatory Provident Fund and is confident that the administrative fees will be reduced to 0.2% to 0.25% within 5 years.

Chairman of the Hong Kong Pension Fund Authority, Ms. Liu Mak Ka-yun, stated at a meeting of the Legislative Council's Finance Committee that after the launch of the MPF Express platform, it is expected that the average administrative fee of Trillions of MPF will decrease to 0.29% next year, half of the fee before the platform was introduced. In the future, efforts will continue to reduce fees, with the initial goal of reducing administrative fees to 0.2% to 0.25% within 10 years of the platform's operation, and now there is confidence that this target will be achieved within 5 years. She expects that the total expenses of the Pension Fund Authority will continue to decrease by 2% in the next fiscal year, totaling a 5% decrease over three years. According to documents submitted to the Legislative Council by the Pension Fund Authority, the expected expenditure for the 2026-27 fiscal year is approximately HK$63.8 billion, with an operating deficit of HK$2.27 billion, a 29% decrease from the revised estimate for the 2025-26 fiscal year. Ms. Liu Mak Ka-yun also mentioned that currently, 12 Trillions of MPF trustees and 22 plans have successfully joined the MPF Express platform, with the remaining 2 industry plans scheduled to join by the end of March and April respectively. She noted that the Hong Kong government established the Pension Fund Authority with HK$5 billion in 1998, and it is anticipated to have a surplus of approximately HK$2.1 billion by the end of March 2027, but there will be an operating deficit. Plans are in place to review registration fees with the aim of recovering all costs. She mentioned that efforts are being made to host a global forum of international retirement fund regulatory organization and the OECD in Hong Kong by the end of the year, inviting retirement fund regulatory bodies from 80 countries and regions, with an estimated participation of 1,000 individuals.