Link Group partners with HSBC to bring
state of the art technology solutions to the Hong Kong pension market
7 February 2023:A strategic partnership between Link Group’s Retirement &Superannuation Solutions (RSS) business and HSBC will see the global technology solutions provider deliver digital administration and value-added services to HSBC’sOccupational Retirement Scheme Ordinance (ORSO) clients.
The transaction was finalised on 7 February 2023 and provides Link Group with an immediate, strong position in the Hong Kong pension market where HSBC is a significant player based on number of retirement schemes and assets under management.
Link Group’s decision to enter the Hong Kong pension market aligns with its global growth and transformation strategy for RSS, at a time when the pension and superannuation industry is experiencing a structural shift towards digitisation.
The long-term partnership is underpinned by a 10-year agreement and introduces LinkGroup’s leading technology platform and digital services to deliver global best practicesolutions to the Hong Kong pension market and importantly, HSBC clients, employees and ORSO members.
Dee McGrath, CEO, Retirement & Superannuation Solutions, Link Group,said “Thisis an exciting opportunity for Link Group to grow its global footprint as the primary retirement solutions provider for the pension sector. Our partnership with HSBC reinforces our commitment to lead a digital revolution in the Hong Kong retirement market, which will provide a solid foundation to pursue further growth opportunities acrossAsia.”
“We continue to invest in our digital capabilities, innovative technology and marketleading platform as we bring our global technology-led, member administration expertiseto HSBC and begin shaping new retirement solutions for the Hong Kong pension market.”
Phillip Bretnall, Head of Global Trustee and Fiduciary Services, Asia Pacific, HSBC,
said “As the pensions industry moves towards digitisation, we have appointed Link Group to provide administration services for our ORSO schemes in Hong Kong. By partnering with Link, a global leader in retirement solutions, we will be able to focus on the core competencies of our pensions business, driving deeper value for our customers and investors. For our ORSO scheme customers, their day-to-day dealings with us will be enhanced by Link Group’s digital-led solutions and value-added administrative services.
“The HSBC Group is committed to maintaining its market leading position in the retirementand employee benefit business, including MPF, ORSO, trustee, and product development. This business is an important pillar of the retirement proposition as part of our broaderwealth strategy in Asia.”
