||Official welcome: Ms Yvonne Sin, Chairman, the Hong Kong Retirement Schemes Association (HKRSA) (Hong Kong).
||Opening remarks and welcome
Mrs Carrie Lam, Chief Secretary for Administration, Government of the Hong Kong Special Administrative Region (HKSAR Government) (Hong Kong).
Keynote address: What are the challenges and solutions for population aging in the Asia-Pacific?
Leading economist Mr Robert Palacios, Global Lead Pensions and Social Insurance, Social Protection and Labor, World Bank (Global) will present the findings of recent World Bank research into the ageing of populations in East Asia and the Pacific, along with best practice solutions.
Global trends in retirement incomes.
International experts Mr Richard Jackson (via video), Global Aging Institute (USA), Mr Jeremy Cooper, former Chair, Australian Superannuation (Private Pension) System Review, member of ASFA Super System Design Policy Council and Chairman, Retirement Income, Challenger Limited (Australia) and Mr Julio Portalatin, President and Chief Executive Officer of Mercer (USA) will discuss the increasingly global challenges facing retirement incomes policy
The discussion will focus upon:
- the shift to defined contribution
- dealing with legacy schemes and products
- investing in a low return and volatile market
- meeting the needs of a mobile workforce, both within and between countries meeting the challenges of increasing longevity
Chair: Ms Ka Shi Lau, Vice-Chair and Pensions & Funds Subcommittee Chair, Hong Kong Trustees’ Association and Managing Director & CEO, BCT Group (Hong Kong).
||Morning tea and networking
What can we learn from countries with established systems for providing retirement protection?
Presenters will look at examples from around the world which illustrate best practices in:
- achieving best outcomes for retirees
- inter-relationship between public and private provision
- providing incentives for self-reliance
- balance between compulsion and self-reliance
- system design.
This session will be led by Mr Andrew Boal (Fellow of ASFA), ASFA Director and Deputy Chair, ASFA Consumer, Governance and Regulations Policy Council and ASFA Super System Design Policy Councils, Superannuation Practice Committee Convenor, Institute of Actuaries Australia and Managing Director, Willis Towers Watson (Australia). Mr Ross Clare (Fellow of ASFA), Director of Research, the Association of Superannuation Funds of Australia (ASFA) (Australia) will draw on OECD research and analysis on retirement income systems and outcomes across a range of OECD and other countries, focusing on those arrangements which both deliver adequate retirement incomes and are financially sustainable.
Maximising member engagement: how competitive pressures have revolutionised ways of understanding fund members.
Mr David Elia (Fellow of ASFA), ASFA Director and Chief Executive Officer, HOSTPLUS Super Fund (Australia) and Mr Darrell Ludowyke, Chief Executive Officer, Empirics (Australia) will discuss successful member engagement techniques and practices, illustrating the importance of being relevant, personalised, engaging, agile and predictive in your member relations. They will also discuss the effective use of member data analytics, including using member information to shape product offerings, defaults and provision of advice and information.
Both sides of the story: examining some of the current challenges and debates around providing retirement protection in Hong Kong.
Mr Matthew Cheung, Secretary for Labour and Welfare, HKSAR Government (Hong Kong).
What are the responsibilities of government, employers and employees when it comes to retirement? A panel discussion between local and international experts.
- Mr Robert Palacios, Global Lead Pensions and Social Insurance, Social Protection and Labor, World Bank (Global)
- Mr Hoi-wai Chua, Chief Executive, The Hong Kong Council of Social Service (Hong Kong)
- Mr Michael Tien, Member, HKSAR Legislative Council and Member of National People’s Congress, PRC (Hong Kong Deputy) (Hong Kong)
Chair: Ms Pauline Vamos (Fellow of ASFA, ASFA AIF), Chief Executive Officer, ASFA (Australia).
MPF as an Integral Part of Hong Kong’s Retirement Protection
Dr David Wong Yau-kar, Chairman, Mandatory Provident Fund Schemes Authority (MPFA) (Hong Kong).
Have your say:
Panel and audience discussion on key consultation issues raised in the Hong Kong Retirement Protection Forging Ahead document and other important issues for the MPF system.
Discussion will focus on:
- the implications of adopting a Default Investment Strategy for funds, including impact on fees
- measures more generally which might lead to lower fees charged for MPF offerings
- what would be involved in setting up a centralised electronic platform (eMPF) and what would be the implication of this for funds
- likely impact of moving to full portability of accounts
- whether there are too many MPF funds?
- should the government be a provider of annuity products in retirement or are such products something that the private sector can and should offer?
- Mr Darren McShane, Chief Regulation & Policy Officer and Executive Director, MPFA (Hong Kong)
- Professor Francis T Lui, Director of Center for Economic Development, Professor of Economics, Hong Kong University of Science & Technology (Hong Kong)
- Mr Victor Apps, Vice Chairman, Business and Professionals Federation (Hong Kong)
Chair: Ms Yvonne Sin, Chairman, HKRSA (Hong Kong).
Where to from here?
A reflection on the day’s content.
Ms Pauline Vamos (Fellow of ASFA, ASFA AIF), Chief Executive Officer, ASFA (Australia).