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Membership of MPF panel of specialists announced
The Government today (Tuesday) announced the membership of a panel of specialists to provide technical advice on the development of subsidiary legislation for the Mandatory Provident Fund (MPF).
The 22-member panel is made out of professionals such as trustees, custodians, investment managers, pension scheme administrators, scheme consultants, accountants, auditors, actuaries and lawyers.
It also comprises representatives from relevant professional associations and industry bodies including Hong Kong Society of Accountants, the Actuarial Society of Hong Kong, the Law Society of Hong Kong, Hong Kong Trustees Association, Hong Kong Investment Funds Association and the Hong Kong Federation of Insurers.
A government spokesman said the panel was one of the essential parts of the MPF consultative machinery.
Another essential part of the consultative machinery - the MPF Advisory Board which served to advise on policy and strategic issues relating to the MPF System - would be established shortly, he said.
"We will also consult widely with the relevant industries, employers' and employees' groups as well as the relevant panel and committee of the Legislative Council to make sure that the legislation developed is feasible and widely understood," he said.
Six specialist groups with members drawn from the panel will be formed to work on specific areas of the MPF System.
Individual groups will focus on issues relating to scheme operations, residual scheme and compensation fund, accounting and auditing issues, service providers, investment guidelines and interface with schemes under the Occupational Retirement Schemes Ordinance.
"The specialist groups will work closely with the MPF Office to provide it with advice on technical aspects of the MPF System," the spokesman said, adding that the first panel meeting would be held tomorrow (Wednesday).
"The purpose of the meeting is to brief members on the work programme for the next few months, and the role of the six specialist groups," he said.
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