Mandatory Provident Fund Schemes Authority (MPFA) 強制性公積金計劃管理局（積金局）

Functions of the MPFA 積金局的職能

The MPFA is a statutory body established under the Mandatory Provident Fund Schemes Ordinance (Cap. 485), with its main functions set out in section 6E. It registers provident fund schemes and approves qualified persons as approved trustees. It then regulates trustees’ affairs and activities, seeking to ensure prudent administration of their schemes as far as reasonably practicable. This supervisory responsibility does not guarantee investment returns.

The MPFA must ensure compliance with the Ordinance. Its remit also covers sales, marketing and advice concerning registered schemes. It can make rules or guidelines governing mandatory contribution payments and scheme administration relating to those contributions. Both an employer’s compliance with contribution requirements and an intermediary’s conduct when selling or advising therefore concern the MPFA’s functions.

Oversight of the electronic MPF system includes approving the rules envisaged by the legislation, directing the system operator and approved trustees to safeguard system integrity and stability, and monitoring the operator’s compliance with operating rules and those directions or instructions. The MPFA also supervises specified entities in performing relevant functions assigned, conferred or imposed by law. Distinguish the MPFA’s oversight role from the system operator’s operational role.

The MPFA also develops proposals for reforming laws on occupational retirement and provident fund schemes, supports Hong Kong’s retirement scheme industry, encourages high standards of conduct and prudent business practices among trustees and other service providers, and improves public understanding of scheme features, objectives, operations and investments. Its functions are not exhaustively listed: other ordinances may confer duties, such as acting as the Registrar of Occupational Retirement Schemes under the Occupational Retirement Schemes Ordinance. [MPFA: Mission and Role](https://www.mpfa.org.hk/en/mpfa/mission-and-role)