Publicity and Education Programmes of MPFA

Transcription

1 Publicity and Education Programmes of MPFA Darren McShane Executive Director Mandatory Provident Fund Schemes Authority Outline (I) (II) (III) (IV) Background of the Mandatory Provident Fund (MPF) System & MPFA Audience of MPFA Public Education Programmes Strategy Showcases (V ) Means to Measure Programme Effectiveness (VI) (VII) Challenges Lessons Learnt 2 1

2 (I) Background of the Mandatory Provident Fund (MPF) System & MPFA Background The MPF System was established in A mandatory, privately managed, fully funded contribution scheme. To provide retirement protection to Hong Kong workforce aged 18 to aged below

3 Dual Role of MPFA MPFA as a statutory regulator MPFA as the driver of a social programme To regulate MPF schemes and MPF funds; and To supervise MPF trustees and MPF intermediaries. To enhance different stakeholders understanding of the MPF System; and To solicit stakeholders buy-in. 5 (II) Audience of MPFA Public Education Programmes 3

4 Two Major Categories a) Scheme members - General Members - Keen-to-know Members b) Youth - Future Members 7 (III) Strategy 4

5 Strategy a) Progressive Approach in the Dissemination of MPF Messages Phase 1 ( ): Features of the MPF System Phase 2 (late ): To aware and take good care of their MPF investment Phase 3 (2007 onwards): Features and relative risk levels of MPF fund Phase 4 (2009 onwards): To make informed decisions in the lifelong MPF investment journey 9 Strategy b) Segmented Programmes with Different Objectives General members vs. keen-to-know members General members Keen-to-know members Through mass media programmes Through customized programmes 10 5

6 Strategy b) Segmented Programmes with Different Objectives Youth To encourage youngsters to cultivate a good habit of saving for the future. To educate different age groups of youth on the merits of the MPF System, the compounding effect of savings and the importance of early planning for retirement. 11 (IV) Showcase: MPF JJ Five Band 6

7 MPF JJ Five Band Background Developed by the MPFA in May 2007 with the campaign slogan JJ Five Composing the Future with You Objectives To highlight the key features, relative risk and return levels of the five major types of MPF funds in a lively and interesting manner. 13 MPF JJ Five Band JJ Five Member s Name (representing Fund Type) Kam Ka Chun (Equity Fund) Kam Ka Kwan (Mixed Assets Fund) Kam Ka Pong (Bond Fund) Kam Ka Ching (Guaranteed Fund) Kam Ka Po (MPF Conservative Fund) Slogan High potential returns come with high risk Proportion of stocks and bonds determines the risk level Looking for steady returns Understand the terms and conditions for guaranteed returns Earning interest very slowly Investment Instruments Stocks Stocks and bonds Bonds Bonds, stocks or short-term interestbearing money market instruments Short-term bank deposits and shortterm bonds 14 7

8 MPF JJ Five Band Publicity Print advertisements in railway Chinese New Year souvenirs Supplement and contribution articles District Tours 15 (IV) Showcase: Lifelong MPF Investment Journey 8

9 Lifelong MPF Investment Journey Theme: Making Informed Decision for Your MPF Life 17 Lifelong MPF Investment Journey Train the trainer briefing sessions Multi-media kit of 3 publications Thematic website Article at free newspapers Radio drama 18 9

10 Lifelong MPF Investment Journey Video Series Out-of-home Media Internet Portal 19 Lifelong MPF Investment Journey Exhibition-cum-game outreaching programme One-to-one consultation services provided by Certified Financial Planners 20 10

11 (IV) Showcase: Youth Education Youth Education Tertiary Institution Students Multi-media creative competition Fanpage on Facebook 22 11

12 Youth Education Secondary School Students Interactive drama Teaching kit for teachers Teachers training workshops Youth booklet 23 Youth Education Kindergarten and Primary School Students Story books Teaching kit for teachers and parents Parenting competitions Family fun events 24 12

13 (V) Means to Measure Programme Effectiveness Means to Measure Programme Effectiveness Survey on participants views on public education outreaching activities Survey on members MPF investment knowledge Focus Group Study on Youth Programmes Public Opinion Survey 26 13

14 (VI) Challenges Challenges Scheme members inertia to learn more about their investment: It is a mandatory system Negative perception of the system Retirement is considered too remote Monthly contribution amount is relatively small Prefer investment advice/tips to investment education messages Stock trading mindset 28 14

15 (VII) Lessons Learnt Lessons Learnt Segmented approach to address different information needs Involve famous financial market commentators and artistes to attract public attention Use prizes to stimulate public interest Investment education is an enduring battle 30 15

16 Thank You 31 16