The Mandatory Provident Fund (MPF) is a compulsory pension fund designed by the Hong Kong government as a major protection scheme for the aged and retired residents. Most employees and their employers are required to contribute monthly. A 2012 study by the Consumer Council shows that almost half of the MPF funds have posted losses in each of the past five years.
Shareholder activist David Webb wrote an excellently funny piece on the Mandatory Provident Fund (MPF) recently, mocking the government leaflet which announces increased contributions to the compulsory retirement savings system.Friday, 2 May, 2014, 1:25am 1 comment
Retirees on the MPF scheme may soon be able to withdraw their money in instalments up to four times a year, the MPF Schemes Authority said yesterday, instead of having to take the full amount on retirement.26 Apr 2014 - 8:12am 2 comments
The Mandatory Provident Fund covering 2.4 million employees in the city reported poor investment results last month, with almost all categories of funds suffering a loss as a result of weak stock markets worldwide.4 Apr 2014 - 11:27am 4 comments
Legislators and unionists pressed government officials yesterday to scrap or lower the controversial offset provision in the Mandatory Provident Fund pension scheme which has allowed companies to save more than HK$20 billion in the past 13 years at the expense of employees' retirement savings.19 Mar 2014 - 1:26am
Employers are lobbying forcefully against the call by some lawmakers to abolish the offset provision in the Mandatory Provident Fund pension scheme which has saved companies more than HK$20 billion in the past 13 years, with critics of the offset saying it does not benefit ordinary employees.17 Mar 2014 - 2:51am
For those frustrated by the high fees, limited choices and the paperwork of the government-mandated pension plan, relief may be in sight. The main regulator overseeing the Mandatory Provident Fund scheme is about to launch a public consultation that could radically change the plan.17 Mar 2014 - 2:52am
The issue of Mandatory Provident Fund charges has long been contentious amid complaints that captive savers are being milked by fund management and fund administration companies.17 Mar 2014 - 6:37pm
Hong Kong's mandatory retirement contribution scheme is no substitute for pensions, says a former advocate of the Mandatory Provident Fund.24 Feb 2014 - 4:45am
A price war is looming among Mandatory Provident Fund providers after Haitong International became the first fund house to waive investment management fees.
SCMP, February 1113 Feb 2014 - 1:24am 8 comments
Among the many flaws of the Mandatory Provident Fund that critics have pointed out, the one that is the most detrimental to retirement savings is the high fees and charges that funds levy on customers. At the current market average of 1.71 per cent, such charges amount to an astronomical cost over the course of a working life.12 Feb 2014 - 7:30am