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. A 2012 study by the Consumer Council shows that almost half of the MPF funds have posted losses in each of the past five years.
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.Monday, 29 October, 2012, 6:37am 1 comment
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
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
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 2123 Oct 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