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Legco Bills Committee on Mandatory Provident Fund Schemes (Amendment) (No. 2) Bill 2011

The attached will appear on the Legco website

It will also be on our Clear the Air website.

The attached will be discussed by the Bills Subcommittee on 23rd February 2012.

Download PDF : Clear the Air-e

From: []
Sunday, November 06, 2011 17:05
Re – MPF

Dear Mr Middleton,

Thank you for your email to the Financial Secretary below which I am authorized to reply.

We have taken the opportunity to consult the Mandatory Provident Fund Schemes Authority.  As far as MPF schemes are concerned, investment of funds of MPF schemes is regulated by the Mandatory Provident Fund Schemes Ordinance and its subsidiary legislation (collectively the MPF legislation).  To safeguard the accrued benefits of scheme members against undue investment risk, the MPF legislation prescribes a list of permissible investments which are subject to qualitative and quantitative requirements.  There is no specific provision under the current MPF legislation to restrict MPF funds from investing in tobacco stocks provided that the statutory permissibility requirements are met.

Frederick Yu
(Financial Services and the Treasury Bureau)

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