The fees for the official responsible for Hong Kong decreased by 36 % since the launch of a digital platform

Hong Kong fees followed Mint savings fund He decreased by 36 percent since the launch of its central digital platform last year, with more than 2.7 million members and 70,000 employers to be managed under the new system by August, according to the head of the plan.

The head of the mandatory savings funds Authority, Ayaca McFireson Lau, warned on Sunday that the next stage of migration on the platform will be “very difficult”, because the transfer of large quantities of data from the four largest service providers in the city will be complicated.

EMPF was launched on June 26 of last year, which is the most important reform of the 25 -year -old mandatory pension plan, to provide a central platform to replace separate systems used by 12 different workers.

Lao said that the administration has decreased since then.

She said in a blog post: “The fees that Empfs are identified at 37 basis points (0.37 percent), which are 36 percent less than an average of 58 basis points (0.58 percent) by the trustees before joining the Empf, and will be gradually reduced,” she said in a blog post.

EMPF will eventually allow the 12 and 367,000 employees of employers and 4.75 million members to manage money assets of $ 1.326 trillion ($ 170.3 billion) on A. One platform On their mobile phones or computers.

Lao added that the requirements of “straight pass” in MPF legislation guaranteed savings, which are estimated at $ 30 billion, Hong Kong, to $ 40 billion, Hong Kong, over a period of 10 years, directly benefited from the members of the plan.

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