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.
Hong Kong's pension regulator is considering capping the fees of Mandatory Provident Fund providers amid concerns they are charging too much.Friday, 19 October, 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
This year's budget has had its fair share of controversy. First, the proposal to inject HK$6,000 into all MPF accounts was shot down. Then came the idea of a HK$6,000 cash handout and tax rebate to all permanent adult residents. Now, there is an additional proposal to give HK$6,000 to mainland immigrants who have been here less than seven years.30 Mar 2011 - 12:00am
Nine years after the government introduced the Mandatory Provident Fund (MPF), the jury is still out on whether it has been successful in helping Hong Kong's workforce save enough for their retirement.15 Dec 2009 - 12:00am