24 January 2020
AIA awarded best TVC provider by leading MPF research group MPF assets close to $1 trillion
MPF Ratings, a leading independent Mandatory Provident Fund (MPF) research group today announced AIA as MPF’s Best Tax Deductible Voluntary Contributions (TVC) Provider.
Together with other MPF luminaries, AIA’s success will be celebrated at the 2020 edition of “The MPF Awards”, an evening which will culminate in the announcement of three marquee awards, the MPF “People’s Choice”, “Employers’ Choice” and the 2020 “MPF Scheme of the Year”.
The award for Best TVC Provider was established to coincide with the Mandatory Provident Fund Schemes Authority’s (MPFA) introduction of incentive based retirement savings. According to Francis Chung (叢川普), Chairman of MPF Ratings, incentives to save for retirement are positive but are only successful if they can be simply implemented. “Online access, application ease and varied payment options are keys to simplicity. It was our view that AIA demonstrated a leading standard in providing a TVC service.”
Ms. Elaine Lau, Chief Corporate Solutions Officer of AIA Hong Kong and Macau, said, “AIA Hong Kong has been dedicated in educating the public about the importance of early retirement planning and providing a comprehensive range of retirement solutions. Tax deductible voluntary contribution (TVC) is an important initiative by the Government to encourage people to take action for their retirement protection. In line with this important government initiative, in addition to providing a TVC solution with a wide range of fund choices, we have also developed easy-to-use digital platforms with various payment options and application methods that make TVC a simple, convenient and flexible arrangement for retirement savings. The award is an affirmation of our efforts in offering the best retirement products and services, and exemplifies our brand promise to help people live Healthier, Longer, Better Lives.”
With financial markets starting 2020 in a positive, albeit volatile fashion, total MPF assets appear close to finally topping HK$1 trillion dollars for the first time ever. Record member account balances, together with incentives to save voluntarily, will doubtless sharpen members attention on the MPF industry in 2020.
