MPF | South China Morning Post
  • Tue
  • Mar 3, 2015
  • Updated: 12:00am


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. 

MPF core fund should have only one operator

A robust and low-cost pension fund is crucial to ensure people in Hong Kong are catered for in their old age. Photo: Bloomberg

With the Mandatory Provident Fund Schemes Authority gaining public support for a low-fee "core fund", the next step is to make it work. And that means there should be only one operator of the fund.

Tuesday, 7 October, 2014, 3:36am 1 comment

Core fund proposal for Hong Kong pension scheme wins wide support

The Mandatory Provident Fund Schemes Authority says about 150 submissions are mostly in support of a core fund. Photo: AFP

A proposal by the Mandatory Provident Fund Schemes Authority to require all pension providers to establish a "core fund" as a cheap and simple investment option has received support from the majority of respondents to a consultation.

29 Sep 2014 - 3:58am

AXA in talks to sell Hong Kong Mandatory Provident Fund unit

AXA was seeking about US$400 million for the Mandatory Provident Fund business. Photo: Bloomberg

AXA, France's largest insurer, is in advanced talks with bidders including Manulife Financial Corp to sell its pension fund unit in Hong Kong, said people with knowledge of the matter.

12 Sep 2014 - 8:20am

MPF disappoints with 0.63pc return

Last month's return for the MPF, which covers 2.4 million employees, was far below the inflation rate of 3.4 per cent. Photo: Robert Ng

The Mandatory Provident Fund reported a flat return of 0.63 per cent for last month, failing to even beat the inflation rate in the city and adding to pressure for the government to reform the unpopular pension scheme.

3 Sep 2014 - 5:56am

MPF reports disappointing returns in contrast to strong rally of Hang Seng Index

Lawmakers have been demanding for the government to reform the unpopular Mandatory Provident Fund scheme. Photo: SCMP

The Mandatory Provident Fund reported a return of 1.3 per cent for last month, a dismal performance compared with the Hang Seng Index and given the rising inflation in the city.

6 Aug 2014 - 2:37am

Hong Kong pension regulator unveils cost-cutting plan following criticism

Chan Ka-keung unveils the cost-cutting plan of the Mandatory Provident Fund Schemes Authority.

The city's pension regulator has cut down its headcount and may move to a cheaper location after a lawmaker criticised the high cost of its operations.

10 Jul 2014 - 6:39am

MPF employees should wake up and choose their funds

According to the core fund consultation paper released by the regulator last week, 24 per cent of the city's 2.5 million employees - about 600,000 - have never chosen how to invest their pension contributions.

Hong Kong's pension regulator has finally come out with its proposal for a cap on management fees on core funds to serve employees who have not chosen what do with their MPF contributions.

1 Jul 2014 - 6:51am 1 comment

MPF revamp vital to restore confidence of workers

MPF revamp vital to restore confidence of workers

The need to save for retirement is never too far away in a city like Hong Kong that offers little support. The lack of a universal pension system and steep living costs mean only the well-prepared can enjoy a decent retirement life.

30 Jun 2014 - 9:20am 1 comment

MPFA proposes fee cap on pension funds

Anna Wu Hung-yuk, chairwoman of the Mandatory Provident Fund Schemes Authority.

All Mandatory Provident Fund schemes must introduce a low-fee core fund from 2016 for employees who do not know which fund to choose for their pension contributions.

25 Jun 2014 - 2:37am

John Tsang cautious over changes to mandatory provident fund scheme

John Tsang cautious over changes to mandatory provident fund scheme

Hong Kong's mandatory provident fund scheme should not be hastily done away with, the financial secretary says, although he concedes the system has failed to give low-paid workers and the unemployed enough retirement protection.

26 May 2014 - 7:42am 14 comments

Global economic recovery points to year-end MPF gains, say analysts

The 448 funds in Hong Kong's employee retirement scheme fell on average 0.1 per cent, according to mutual fund watcher Lipper. Photo: AFP

A global economic recovery means pension-fund savers in Hong Kong can expect end-of-year gains in their equity holdings despite lacklustre performance by the Mandatory Provident Fund last month, said analysts.

6 May 2014 - 12:42am

Making a case for Hong Kong's pension fund

The MPF may have its faults, but the city needs the safety net.

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.

2 May 2014 - 1:25am 1 comment

Proposed changes to MPF ordinance set to benefit more retirees

Elderly may soon be allowed to draw out money in their Mandatory Provident Fund up to four times a year.

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

MPF reports average loss as analysts forecast more of the same

Critics complain MPF imposes high fees for modest performance. Photo: K. Y. Cheng

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

Lobbyists work to change pension rule that has cost workers HK$20b

Many people on low wages have complained that the MPF offset leaves them little cash for their retirement. Photo: SCMP

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