11 March 2020
Timely recognition as eMPF request for proposals looms
Independent Mandatory Provident Fund (MPF) research group, MPF Ratings Ltd, has announced BCT Group (BCT) as its 2020 Best Administration award winner. It is a timely recognition as the Mandatory Provident Fund Schemes Authority (MPFA) embarks on their request for proposals for eMPF, the MPFA’s ambitious plan to standardize, streamline and automate the existing administration processes of the MPF System.
The Best Administration award is part of MPF Ratings’ annual industry assessment and is awarded to an administrator demonstrating exceptional service standards and efficiency, which according to Francis Chung (叢川普), Chairman of MPF Ratings, is a priority for MPF members but is overlooked by market commentators. “There is a misconception that MPF is all about high performance and low fees, but in our recent survey of over 9,000 MPF members, they chose good business practices and customer service as their most important considerations,” before adding, “Good administration is the cornerstone for sound business practices and service. Without good administration you cannot have either.”
In addition to the title of best administrator, BCT’s MPF scheme, BCT (MPF) Pro Choice, was also ‘Gold’ rated. ‘Gold’ is MPF Ratings’ highest rating and is awarded to MPF schemes demonstrating the best relative value for money for MPF members.
Ka Shi Lau (劉嘉時), Managing Director & CEO of BCT Group, was thrilled that their work had been independently recognized, pointing out, “BCT is a homegrown MPF service provider with over 20 years of industry experience, working relentlessly to push forward the development and digital revolution of MPF market. Being named the best administrator and having one of our MPF Schemes gold rated put us at the forefront and are testimony to the hard work of the BCT team and our commitment to delivering the best value for our customers.”