AIA offers cuts in MPF fees for companies employing disabled staff
Firm has 10pc of the total HK$600b MPF under management, and over 900,000 members, making it Hong Kong’s third largest MPF provider
AIA, the third largest Mandatory Provident Fund provider in Hong Kong, is to offer a cut in fees to companies that employ people with disabilities, following on from fee cuts from other MPF providers in the past fortnight, including HSBC, Hang Seng Bank and Principal.
AIA on Thursday said it will now offer a special management fee rebate of 0.1 per cent to all companies which employ people with disabilities.
The management rebate is applicable to its world fund and global bond fund.
To enjoy the rebate, any current employee with a disability can nominate his or her employer before November 2016, after which all staff of the company that choose to invest in the two funds will enjoy the rebate, and pay less management fees as a result.
Stephen Fung, chief executive of AIA MPF, told the South China Morning Post it wasoffering the fee rebate “simply in the hope of encouraging more corporations across all industries to join us to support the employment of people with disabilities”.
“AIA MPF cares for our society and believes that everyone, regardless of their abilities and physical condition, deserves a stable life on which to build their desired retirement,” Fung said.
[AIA is offering the fee rebate] simply in the hope of encouraging more corporations across all industries to join us to support the employment of people with disabilities