Six in every 10 Hong Kong people believe that the Mandatory Provident Fund fails to address their retirement needs, a Hong Kong Polytechnic University survey has found.
SCMP, Sept 8
I stand amazed. Do they mean to tell me that as many as four out of every 10 people in this town actually believe that their MPF investments will give them enough money to live on in retirement?
I wouldn't have thought it possible, I mean that so many people should believe this. It certainly isn't possible to get enough back from the MPF for retirement.
Let's just try one statistic. The chart below shows you the total net asset value of MPF funds per enrolled beneficiary. The latest figure comes to HK$125,163. Put that in the bank and see how many minutes you can live off the interest payments it will pay you these days.
Of course, this is an average figure. Some MPF beneficiaries have been in the plan longer and put more money into it. They will get more back. Others are more recently enrolled and have less savings in the MPF.