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. 

Ron Hui, of the Consumer Council, makes a point about Mandatory Provident Fund Schemes as Connie Lau looks on. Photo: Edward Wong

MPF fund fees vary wildly, savers warned

The management fees of some Mandatory Provident Funds are 26 times higher than others, a watchdog's survey shows. 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.