MPF

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 year-end report card looks set to disappoint

The best performers were Hong Kong equity funds, up 3.06 per cent, but even they failed to match the Hang Seng Index.

The Mandatory Provident Fund reported flat earnings of 0.46 per cent last month, trailing the Hang Seng Index, failing to keep pace with inflation and on track to produce disappointing annual results, data company Lipper said yesterday.

Tuesday, 4 November, 2014, 9:52am

Champion Reit eyes easing of MPF investment curbs on trusts

Eagle Asset Management's Adrian Lee says property trusts should no longer be classified as high-risk investments. Photo: Bruce Yan

A leading Hong Kong real estate investment trust (reit) is urging authorities to ease restrictions on Mandatory Provident Fund investments in the trusts.

22 Oct 2014 - 4:51am

New proposal to allow terminal patients to withdraw MPF funds - only one year before death

Proposed changes to the MPF ordinance would allow terminally ill people to withdraw their money upon providing medical documents showing they have only a year to live.

Dying people should be able to withdraw their Mandatory Provident Fund savings more than 12 months before their projected death, the government has been told.

Proposed changes to the MPF ordinance would allow terminally ill people to withdraw their money upon providing medical documents showing they have only a year to live.

8 Oct 2014 - 4:15am 1 comment

MPF scheme losses top 3pc for last month amid share sell-off

Occupy Central protests had a damaging impact on Hong Kong shares in September. Photo: EPA

6 Oct 2014 - 4:39pm

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.

7 Oct 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