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  • Jul 23, 2014
  • Updated: 4:31pm

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. 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. 

People know best what to do with their own money

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

Tuesday, 23 October, 2012, 4:19am 3 comments

Pensions need a longer view

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

sfc.hk and mpfa.org.hk

22 Oct 2012 - 1:54am

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

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

"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

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

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

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 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

Reduce service fees on MPF products, watchdog urges

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