Hui Cheung-yu's written response to the Legislative Council: The operation of the MPF Easy platform is stable and will strengthen support and accountability.
Xu Zhengyu added that if a member of the scheme incurs direct financial losses due to errors made by the Provident Fund Easy Company (such as delayed transfer of accumulated provident fund rights), they can seek compensation from the Provident Fund Easy Company.
On March 25, the Secretary for Financial Services and the Treasury of Hong Kong, named Christopher Hui, stated in a Legislative Council meeting in a written response to questions from lawmaker Andrew Liu that the MPF Easy Platform will be launched in June 2024. The platform aims to standardize, simplify, and automate the administrative work of the Mandatory Provident Fund (MPF) scheme to enhance operational efficiency, reduce administrative costs, promote fee reduction, and provide more convenience for managing Trillions of MPF accounts. To assist employers in registering and using the MPF Easy Platform, the MPF Easy Company is providing on-site support services through outreach services. The outreach team has conducted over 16,000 visits to ensure that employers understand the specific operations of the platform and successfully make contributions.
Christopher Hui further mentioned that if plan members suffer direct financial losses due to errors made by the MPF Easy Company (such as delayed transfer of Trillions of MPF accumulated benefits), they can make claims against the company. In general, the MPF Easy Company will deposit the difference in fund units into the affected plan members' Trillions of MPF accounts to restore the accounts to the situation before the error occurred. This compensation mechanism is consistent with the usual practice of handling compensation requests by trustees prior to the launch of the MPF Easy Platform. Plan members can also consider participating in the MPF Easy Platform Mediation Pilot Program managed by the Financial Dispute Resolution Centre to resolve money disputes with the MPF Easy Company through an independent, fair, and efficient channel.
The above text is the response to a LegCo question about the operation of the MPF Easy Platform. Andrew Liu asked questions regarding complaints about the platform and the government's response to these issues. Christopher Hui provided detailed information and strategies to address the challenges faced by employers and plan members in using the platform. The government, the MPFA, and the MPF Easy Company are working together to improve user experience and provide better customer service on the platform.
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