• Sun
  • Dec 21, 2014
  • Updated: 1:41am

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. 

Warning on unscrupulous MPF pitches

Kenneth Leung Kai-cheong

Hongkongers should guard against unscrupulous sales practices under the new scheme that allows people to choose their Mandatory Provident Fund service provider, a legislator warns.

Thursday, 1 November, 2012, 4:48am

Little interest in MPF portability scheme, according to CTU survey

Many Hongkongers do not know about and are not interested in a new scheme to move their Mandatory Provident Fund contributions to a service provider of their choice, a survey found.

A study conducted this month by the Confederation of Trade Unions found that of 454 workers polled, 21 per cent had never heard of the new MPF semi-portability plan.

31 Oct 2012 - 3:19am 1 comment

MPF changes first step on road to reforms

Hong Kong employees will get the right to choose where they want to invest some of their pension funds from tomorrow. Photo: Bloomberg

From tomorrow, the city's 2.4 million workers will be free to choose their own Mandatory Provident Fund provider, giving them a much-needed say where their nest egg is invested.

But complaints over the fees charged by providers, who were previously chosen by employers, are expected to continue, and may be the harbinger of further changes to the 12-year-old pension scheme.

31 Oct 2012 - 2:53am

Poor bond market to blame for tepid MPF, says Professional Commons

Mandatory Provident Fund investment losses can be blamed at least partly on the city's immature bond market, which drives investment agents to buy into risky stocks, according to a think-tank.

A Professional Commons' report released yesterday said heavy reliance on stock investments was risky due to market volatility in recent years.

29 Oct 2012 - 6:37am 1 comment

Letters to the Editor, October 26, 2012

Low-rise Ho Chung village, in Sai Kung. Photo: Edward Wong

Work together to keep HK a world city

I refer to Rachel Chan's letter ("HK should be trying to attract top-class international experts", October 24) concerning Hong Kong's international status.

26 Oct 2012 - 2:10am

Cap on MPF fees not ruled out, says financial services minister

Chan Ka-keung. Photo: Felix Wong

Capping the management fees for Mandatory Provident Fund retirement accounts has not been ruled out, the financial services minister said yesterday.

25 Oct 2012 - 4:24am

People know best what to do with their own money

MPF has rather eaten away at the retirement savings that people would otherwise have generated for themselves.

The Mandatory Provident Fund is a good thing because it forces very low income groups to save money, which they otherwise might not do.

Letter to the editor,October 21

23 Oct 2012 - 4:19am 3 comments

Pensions need a longer view

In a rapidly ageing society, the problem of inadequate retirement savings and the lack of a decent safety net needs to be addressed to avoid a crisis. Photo: Sam Tsang

Successive governments have ruled out a universal retirement pension. But recent events have revived the issue. One is the threat by some political parties to oppose funding for a boosted old-age allowance unless the government drops its plan to means test it.

22 Oct 2012 - 2:52am

Smart Money: MPF websites you should know

Smart Money: MPF websites you should know

sfc.hk and mpfa.org.hk

22 Oct 2012 - 1:54am

Warning over public trust role for Hong Kong's retirement scheme

Anna Wu says there needs to be other policies on retirement.

The regulator of the Mandatory Provident Fund scheme is warning of problems if the government steps in to administer workers' retirement savings.

21 Oct 2012 - 4:19am 2 comments

Fund provident in name but certainly not in practice

Managing director Diana Chan said that when the MPF started 12 years ago, fees were high because the fund was small. Photo: Felix Wong

"Hong Kong is a free market. However, if free market competition pressure cannot bring fees down we have to consider adding a cap."

Diana Chan Tong Chee-ching, MPF Schemes Authority, SCMP, October 19

21 Oct 2012 - 1:39am 3 comments

Letters to the Editor, October 21, 2012

Mandatory Provident Fund leaflet.

Old and new MPF set-up impractical

The Mandatory Provident Fund is a good thing, because it forces very low-income groups to save money, which they otherwise might not do.

Even though the actuaries will argue that the savings are quite inadequate to meet retirement needs, the MPF is nonetheless a step in the right direction.

21 Oct 2012 - 1:39am

MPF providers hit back over proposal to cap fees

Managing director Diana Chan said that when the MPF started 12 years ago, fees were high because the fund was small. Photo: Felix Wong

Mandatory Provident Fund providers hit back at the pension regulator's proposal to cap fees, warning it would hurt the city's image as a free market and limit investor choice.

20 Oct 2012 - 3:28am 3 comments

Hong Kong's pension fund authority considers capping fees amid criticism

Managing director Diana Chan said that when the MPF started 12 years ago, fees were high because the fund was small. Photo: Felix Wong

Hong Kong's pension regulator is considering capping the fees of Mandatory Provident Fund providers amid concerns they are charging too much.

Diana Chan Tong Chee-ching, managing director of the Mandatory Provident Fund Schemes Authority, said yesterday the authority had appointed accounting firm Ernst & Young to carry out a study on ways to reduce MPF fees.

19 Oct 2012 - 7:25am 4 comments

MPF should be in the workers' hands

The MPF is structured to benefit the funds management industry. Photo: Edward Wong

The Consumer Council found huge variations in management fees with the MPF fund expense ratio (FER) - fees and charges as a percentage of the total fund size - ranging from 0.17 per cent to 4.62 per cent.

SCMP, October 16

18 Oct 2012 - 4:47am 3 comments