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 funds: a chooser's guide

MPF funds: a chooser's guide

New rules enabling members of Hong Kong's Mandatory Provident Fund (MPF) to transfer their contributions to a provider of their choice have increased the range of funds.

Monday, 26 November, 2012, 2:17am

Laying the nest egg

New rules explained in the Mandatory Provident Fund leaflet. Photo: May Tse

Everything you need to know about moving your pension fund, by Nicky Burridge.

19 Nov 2012 - 1:34am

Complaints over fees and poor MPF service

Mydy Lai. Photo: May Tse

The Employee Choice Arrangement has arrived, so workers may move the money in their Mandatory Provident Funds, but with restrictions. They may move only their own contributions, not the money paid by their employers, and they can do so only once a year.

12 Nov 2012 - 2:31am

How to get the best MPF funds

How to change your MPF provider

Thinking about changing your MPF plan? The recently implemented portability scheme gives you some freedom to move. And, as you search through fund data, you will notice there is much to choose from. Funds can vary greatly in terms of their returns, fees and risks.

12 Nov 2012 - 10:56am

Employee choice changes the face of Hong Kong's MPF

Employees now will have greater autonomy and flexibility in choosing the MPF scheme with the implementation of the ECA.

The long-awaited employee-choice arrangement (ECA) for Hong Kong's mandatory provident funds took effect on November 1, 2012.

What happened to MPF contributions before the ECA?

7 Nov 2012 - 3:36am

Business Digest, November 6, 2012

China brings WTO case on EU subsidies for solar power generation.

Funds under MPF return 0.67pc in Oct

6 Nov 2012 - 4:24am

Funds have battle with US Fatca rules

A new US tax law will put a burden on thousands of retail and pension funds in Asia, including Hong Kong's Mandatory Provident Fund.

Hong Kong and Asia fund managers can celebrate as the US Treasury and Internal Revenue Service last week agreed to postpone a new US tax law from January next year to January 2014.

But industry players warn against breaking out the champagne too soon as no agreement has been reached to exempt the thousands of retail and pension funds in Asia. It seems more lobbying will be needed.

6 Nov 2012 - 4:24am

Time to check the fine print

Investors should count the money in their MPF accounts at least once a year to monitor their returns. Photo: Shutterstock

Typically astute and informed about property and personal investments, Hongkongers have always been lukewarm about the Mandatory Provident Fund (MPF) and its promised benefits. Despite the best efforts of scheme providers to explain the mechanisms and funds available, concerns still linger about who gains most.

6 Nov 2012 - 4:51am

Fund data shows optimistic signs

MPF data supplied by HKIFA gives reason for optimism.

Any assessment of how well MPF funds have performed this year comes with a couple of caveats. Recent advances may compensate only in part for the declines of previous years. And headline figures for fund performance may not translate into the same gains for individual scheme members once fees have been deducted.

6 Nov 2012 - 4:24am

MPF chief seems determined to be an enemy of the people

Diana Chan Tong Chee-Ching, Managing Director of Mandatory Provident Fund. Photo: Felix Wong

"The MPF was set up in a way that was employer based and it let 250,000 employers determine the providers in order to eliminate administrative burdens. To let all 2.4 million employees freely choose their providers and make it so they could transfer at any time would effectively change the whole structure of the MPF into an employee scheme."

4 Nov 2012 - 4:15am 4 comments

The Week Explained: MPF Choice

Now you can choose to split your dough among providers. Photo: Corbis

Here's the good news and the bad news. As of last week employees can benefit from the new Mandatory Provident Fund Employee Choice Arrangement scheme. The bad news is that the choice will be limited in a most surprising way.

5 Nov 2012 - 3:25am

Half the battle

Illustration: Emilio Rivera

Hongkongers love to complain about their Mandatory Provident Fund. The government launched the plan in 2000 to address citizens' retirement needs. It implemented a fully free-market solution, handing the fund management and administration to the private sector.

5 Nov 2012 - 3:25am

Battle on to lure Hong Kong MPF switchers

People queue for free ice creams at the ING van in Causeway Bay. The van was an MPF promotion for the bank. Photo: SCMP

Free ice cream, smartphone software applications and reduced fees are weapons the city's 19 Mandatory Provident Fund providers are using to lure HK$257.5 billion in workers' pension contributions.

1 Nov 2012 - 4:48am

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.

Accountancy sector representative Kenneth Leung Kai-cheong said people needed to be on their guard as about 30,000 MPF agents tried to attract business under the new arrangement.

1 Nov 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