Learn More About MPF Intermediaries
The Employee Choice Arrangement ("ECA") gives employees greater autonomy in choosing MPF trustees and schemes. As a result, targets for the sales and marketing of MPF schemes will expand to include an additional 2.35 million employees, on top of about a few hundred thousand employers and self-employed persons ("SEPs"). Trustees are likely to employ more MPF intermediaries and offer them greater incentives to promote their own MPF schemes. MPF intermediaries are expected to become more aggressive in their efforts to sell MPF schemes to employees directly.
To enhance the protection of scheme members' interests, a statutory regime to regulate MPF intermediaries has become effective. All sales and marketing activities related to MPF schemes, as well as the provision of advice about MPF schemes ("regulated activities" in short), will be regulated. The MPFA has issued a set of guidelines to help MPF intermediaries and scheme members understand the conduct requirements for MPF intermediaries when selling or advising on MPF schemes.
To learn more about the roles of MPF intermediaries and details of the statutory regime, please refer to the leaflet "Learn more about MPF intermediaries" and "Guidelines on Conduct Requirements for Registered Intermediaries".
Scheme members can verify whether a company or individual is a registered MPF intermediary by viewing the Public Register of MPF Intermediaries or call the MPFA hotline on 2918 0102. Please refer to the leaflet "How to check the registration information on MPF intermediaries" for user guide for the Public Register of MPF Intermediaries.