The MPFA provides public education programs to increase understanding of Hong Kong's mandatory pension system (MPF) among stakeholders. (1) Programs target both existing and future MPF members across different age groups and education levels. (2) MPFA's education strategy evolves over time, starting with basic MPF features and moving to risk profiling and lifelong investment. (3) Notable programs include an animated music video explaining MPF fund types, comic strips, and online/social media initiatives to engage youth. (4) Effectiveness is measured via surveys and focus groups. (5) Challenges include public inertia, a preference for advice over education, and a "trading" mindset. Lessons highlight tailored segmentation

1. Publicity and Education
Programmes of MPFA
Betty Chan
Head (External Affairs)
Mandatory Provident Fund Schemes Authority
http://www.mpfa.org.hk
High-level Global Symposium on Financial Education
26-27 February 2014, Seoul, Korea

2. (I) Background of the Mandatory Provident Fund (MPF)
System & MPFA
(II) Audience of MPFA Public Education Programmes
(III) Strategy
(IV) Showcases
(V) Means to Measure Programme Effectiveness
(VI) Challenges
(VII) Lessons Learnt
Outline
2

3. (I) Background of the
Mandatory Provident Fund
(MPF) System & MPFA

4. • The MPF System was established in 2000.
• A mandatory, privately managed, fully funded
contribution scheme.
• To provide retirement protection to Hong
Kong workforce aged 18 to 64.
• Employees and employers shall each
contribute 5% of the monthly relevant income
of the employees
Background
4

5. Dual Role of MPFA
MPFA as a statutory
regulator
MPFA as the driver of a
social programme
To regulate MPF
schemes and MPF
funds; and
To supervise MPF
trustees and MPF
intermediaries.
To enhance different
stakeholders’
understanding of the
MPF System; and
To solicit stakeholders’
buy-in.
5

6. (II) Audience of MPFA Public
Education Programmes

7. Two Major Categories
1. Existing members
a) Laymen
b) Keen-to-know
2. Future members
7
15-24
8%
25-34
26%
35-44
26%
45-54
26%
≧55
14%
Primary and
below
13%
Secondary
(Junior Forms)
14%
Secondary
(Senior Forms)
40%
Tertiary
education
33%
Percentage distribution of employees by age group Percentage distribution of employees by educational attainment

8. (III) Strategy

9. • 1999-2005: Features of the MPF System
• Late 2005-2007: To aware and take good care of their
MPF investment
• 2007 onwards: Features and relative risk levels of MPF
fund
• 2009 onwards: To make informed decisions in the
lifelong MPF investment journey
• 2013 onwards: To publicize proactive attitude in
managing MPF investment and to enhance the image of
the MPFA
Progressive Approach
9

10. Laymen
Keen-to-know
Members
Through programmes
in mass media and
e-platforms
Presentation with
graphic and minimal
text
Through customized
programmes
Face-to-face contact
with detailed
information
Segmented Programmes
10
1. Laymen vs. Keen-to-know Members

11. • To encourage youngsters to cultivate a good habit of
saving for the future.
• To educate different age groups of youth on the merits of
the MPF System, the compounding effect of savings and
the importance of early planning for retirement.
• School programmes and e-platforms
Segmented Programmes
2. Youth
11

12. (IV) Showcase:
MPF JJ Five Band

13. MPF JJ Five Band
• To highlight the key features, relative risk and return levels of
the five major types of MPF funds in a lively and interesting
manner
13

14. (IV) Showcase:
Lifelong MPF Investment Journey

15. • Theme: Making Informed Decision for Your MPF Life
15
Lifelong MPF Investment Journey

16. (IV) Showcase:
MPF Investment Education
Comic Strips

17. MPF Investment Education Comic Strips
17
Out-of-home Media Internet Portal
Facebook
Game
Souvenirs

18. (IV) Showcase:
“MPFA TV” Channel on YouTube

19. “MPFA TV” Channel on YouTube
19
Online Game
Out-of-home Media Internet Portal
Video on Default Fund

20. (IV) Showcase: Youth Education

21. • Students of Tertiary Institution
 3D-animation training programme
Youth Education
21

22. • Secondary School Students
 Online learning platform
 Interactive drama
 Teaching kit for teachers
 Teachers’ training workshops
• Kindergarten and Primary School Students
 Story books
 Teaching kit for teachers and parents
 Parenting programmes
Youth Education
22

23. • Initiatives on Online Social Media
 Facebook fan page “Rolling My Money”
 Smartphone application
Youth Education
23
Facebook Fan Page
Smartphone App

24. (V) Means to Measure
Programme Effectiveness

25. Means to Measure
Programme Effectiveness
• Survey on participants’ views on public education
outreaching activities
• Survey on members’ MPF investment knowledge
• Focus Group Study on Youth Programmes
• Public Opinion Survey
25

26. (VI) Challenges

27. Challenges
• Scheme members’ inertia to learn more about their
investment:
 A “mandatory” system
 Negative perception of the system
 Retirement is considered too remote
 Monthly contribution amount is relatively
small
• Prefer “investment advice/tips” to “investment
education messages”
• “Stock trading” mindset
27

28. (VII) Lessons Learnt

29. Lessons Learnt
• Segmented approach to address different
information needs
• Involve famous financial market
commentators, artistes and comic icons to catch
public attention
• Use of e-platforms and online social media
• Use prizes to stimulate public interest
• To publicize the merits of the MPF System
• To enhance MPF and MPFA image to solicit buy-in
• Investment education is an enduring battle 29

30. Thank You
30