I have been with BCT for over 20 years and it has proven to be a fulfilling and rewarding experience. Throughout this time I have witnessed Hong Kong’s rapid development and evolvement with one of the most pressing issues our city faces being the ageing population. With increasing life expectancy and a low fertility rate, the growing elderly population is a phenomenon that we must all prepare for. Indeed, 36% of the population is forecasted to be over 65 in age by 2064.
Because of this phenomenon, proper retirement protection is more important than ever, giving rise to the MPF system that acts as the second of five pillars in the World Bank’s retirement protection system and playing a key role in addressing retirement planning.
It is my personal mission to join the pension industry to serve the Hong Kong people. Before MPF was launched, only one-third of Hong Kong’s workers had some kind of retirement protection, but today almost 90% are covered. This is a huge leap forward, but there are still a lot of issues to address, such as relatively low member engagement. As a strong advocate for financial literacy, I believe promoting investor education is important to help members better prepare for retirement.
At BCT, putting ourselves in our customers’ shoes and anticipating what they need while protecting their pension/ fund assets for retirement is key to success in the long term. Leveraging on our multi-disciplinary strengths as a trustee, administrator and asset servicing solution provider for pensions and global investment funds, asset managers and pension sponsors can delegate their fiduciary duty and administration work to us which in turn helps them increase control and efficiency, mitigate risks, and drive down costs, while enhancing service quality. And this can only be achieved by having a team of seasoned professionals and an innovative technology infrastructure, adhering to a strict code of conduct, and following international standards for best practices, compliance and corporate governance.
The world is evolving faster than never before. BCT is committed to staying connected with our clients and providing an outstanding customer experience.
I hope you will be as excited as we are in anticipating what the future has to offer. Join us and grow with us.
Ka Shi LAU, BBS
Managing Director & CEO, BCT Group