On May 3, the Chairman of the Hong Kong Pension Fund, Lui Mai Ka-hing, announced in a blog post that the "MPF Platform" had completed nearly two years of work and successfully integrated the administrative systems of 12 trustees' Trillions of MPF plans onto one electronic platform. The platform now handles around 5 million plan members, 300,000 employers, 11 million accounts, and over HKD 1.5 trillion in retirement savings. Lui Mai Ka-hing described it as the most far-reaching reform since the implementation of the Trillions of MPF system. She stated that she is pleased to see the increasing usage of the "MPF Platform" and the significant economies of scale that have been achieved, as well as the acceleration of fee reductions. Since the operation of the "MPF Platform" began two years ago, the administrative fees for Trillions of MPF plans have decreased from an average of 0.58% to 0.37% under the "MPF Platform". The fee reduction process continues, and starting from April 1 this year, the fee will further decrease to 0.29%, a 22% reduction compared to the previous average fee charged to trustees. Lui Mai Ka-hing believes that as more users utilize the "MPF Platform" electronically, fees can further decrease in the future, and she is confident that administrative expenses can be saved by HKD 50 billion within 10 years. These fee reductions will directly benefit all Trillions of MPF plan members and bring greater returns to their retirement savings in the long run. In addition, the three "MPF Platform" service centers will extend their Saturday service hours starting in mid-May and add Sunday service hours, while also increasing appointment slots. The "MPF Platform" team has also begun setting up registration and inquiry stations at different MTR stations last week. The team is also providing outreach support for the construction and catering industries within the Trillions of MPF industry plans, including holding information sessions and arranging visits to workers' workplaces with the "MPF Platform" fleet. Support activities tailored to small and medium-sized enterprises will also be held on weekends starting in mid-May.