On-going Monitoring 持續監察

Continuing Monitoring and Routine Supervision 持續監察與日常監管

Approval to launch a scheme does not establish that it will always operate smoothly. The MPFA must continue to monitor trustee performance and compliance with MPF requirements.

The MPFA requires trustees to maintain proper internal controls and procedures to ensure compliance. It also conducts off-site reviews of reports and returns and on-site inspections of trustees; reviewing documents and inspecting a trustee on site are distinct monitoring methods.

The MPFA also meets trustees regularly to exchange views on various issues. Continuing monitoring therefore includes routine supervision and communication as well as action when problems arise.

Complaints, Significant Events and Whistle-blowing 投訴、重大事件及舉報

The MPFA handles complaints from employers or scheme members. Complaints are one way to identify problems, but continuing monitoring does not depend on someone making a complaint.

Trustees must report significant events to the MPFA, including breaches and suspected breaches. A trustee therefore cannot generally delay reporting such a significant event merely because the breach has not yet been confirmed.

The MPFA also requests whistle-blowing reports from other service providers of an MPF scheme about the trustee's performance. Distinguish the sources: employers or members may complain, trustees must report significant events, and other service providers may supply whistle-blowing reports at the MPFA's request.

Investigation and Rectification 調查及糾正缺失

The MPFA conducts investigations where it reasonably believes that MPF requirements have or might have been breached. It also investigates other situations where it believes scheme members' interests may be adversely affected; an investigation need not wait for a proven breach or an actual loss to members.

The MPFA also requires trustees to rectify deficiencies. Continuing monitoring therefore extends beyond collecting information and identifying problems to requiring corrective action.

Use and Oversight of the eMPF Platform 積金易平台的使用及監督

With the eMPF Platform in full operation, all approved trustees must use it to perform scheme administration functions for the MPF schemes they operate. This requirement applies to every approved trustee.

Participating employers and scheme members of all MPF schemes must manage their MPF accounts through the eMPF Platform and submit MPF administration instructions to it for processing. Distinguish trustees' scheme administration functions from employers' and members' requirements to manage accounts and submit instructions.

The Mandatory Provident Fund Schemes Ordinance empowers the MPFA to oversee the operation of the eMPF Platform. Centralising administration on the platform does not remove the need to continue monitoring trustee performance and compliance.