Key findings from 2024 WTW MPF Service Satisfaction Survey
November 21, 2024
The following sets out the key findings of 2024 MPF Service Satisfaction Survey conducted by WTW in August. To get more information or to arrange a discussion, please complete the Contact Us form.
Retirement|Employee Financial Resilience
MPF
Are employers satisfied with the MPF services they received?
Satisfactory : 72%
Neutral : 20%
Unsatisfactory : 8%
Key areas to enhance employer’s satisfaction:
Dedicated relationship manager
e-channel for data submission
e-channel for employee enrolment
Shorter processing time
What support to eMPF transition do employers expect to have?
First time registration and account activation
Access rights control
Assistance on new member enrolments
Contributions and payment arrangement
On-site technical support
Have employers secured fee rebates for their employees?
Yes: 40%
No: 30%
Don’t know: 30%
Have employers appointed MPF broker or agent?
No MPF broker or agent: 50%
With MPF broker or agent: 50%
WTW, as your MPF broker, offers various services including:
Fee rebate negotiations
Hotline for enquiries
Market and regulatory updates
Member education / Financial wellbeing
Investment performance reports
...and many other services
Actions your company can take to better manage your company’s MPF scheme:
Review your MPF service provider regularly.
Ensure its performance and services are up to standard. WTW can assist with conducting an objective review.
Pay attention to updates from your MPF service provider.
With the implementation of eMPF, employers should get familiar with the upcoming changes and adopt electronic processes where possible.
Consider appointing an MPF broker.
An MPF Broker offers various services to help you manage your company’s MPF scheme and prepare for transitioning to the eMPF platform. Reach out to us anytime to learn more about our brokerage services.
