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.
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 21Tuesday, 23 October, 2012, 4:19am 3 comments
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
sfc.hk and mpfa.org.hk22 Oct 2012 - 1:54am
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
"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 1921 Oct 2012 - 1:39am 3 comments
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
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 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
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 1618 Oct 2012 - 4:47am 3 comments
It is time for providers of involuntary pension programmes to cut down their service charges, the consumer watchdog reiterated on Wednesday.29 Aug 2013 - 4:13am
Public Eye has never wavered from speaking out for Hong Kong's needy.17 Oct 2012 - 4:05am 6 comments
Nearly half of the Mandatory Provident Fund investments ended up in the red in the past five years and employees - far from building up a retirement nest egg - could lose up to 14 per cent of the money they contributed in that period.
The losses emerged in a study by the Consumer Council of 523 funds in 39 schemes from 15 MPF providers from July to last month.16 Oct 2012 - 3:58am 2 comments
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.16 Oct 2012 - 10:40am 5 comments
Almost half of all Mandatory Provident Fund investments have lost money over the past five years, the Consumer Council said on Monday. The council studied the performance of 523 funds, contained in 39 schemes from 15 MPF providers, from July to last month.29 Aug 2013 - 4:13am
The city's Mandatory Provident Fund (MPF) turned the corner in the third quarter, helped by monetary easing in the United States last month that boosted stock markets worldwide.5 Oct 2012 - 2:15am