29th December 2022
War, inflation, interest rate and recession concerns, events outside the MPF system’s control, conspired to deliver MPF members a poor investment performance year, and while these concerns may linger in 2023, expect one quietly announced 2022 initiative to positively transform MPF performance in the new year, and this one is in the system’s control.
The “Initiative to Enhance Transparency of Governance Reporting of MPF Schemes” requires all MPF trustees to not only justify their scheme’s “value for money” level, but also to publicly report their results, placing the spotlight firmly on underperforming MPF schemes, and leaving them nowhere to hide.
With nowhere to hide, schemes are exposed to being publicly named and shamed for not delivering value for money to members and MPF Ratings has shared Schemes’ assessments for years. To avoid this ignominy schemes will have to start delivering value to members, and quickly!
Each week MPF Ratings’ Mr MPF will give you a practical money tip. If you have any questions or queries please write to Mr MPF at firstname.lastname@example.org and we will be happy to address them on this blog.