MPF’s next step, part 1

Employee Choice Arrangement (ECA) will become effective in Hong Kong as of November 1, and companies as well as service providers need to be prepared. This represents the first major reform to Hong Kong’s Mandatory Provident Fund (MPF) system, a defined-contribution regime that covers 2.6 million people in the territory, with an industry size of HK$384 billion ($50 billion). ECA is going to change people’s awareness and attitude towards MPF, and it may also presage greater chang…