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Mandatory Provident Fund (MPF)

Mandatory Provident Fund (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.
Hongkongers urged to sign up for eMPF platform as defence against scams
Hong Kong

Video | Hongkongers urged to use eMPF to ward off scams

The advice comes with a warning about the recent theft of HK$1.8 million from three MPF accounts by scammers using high-quality ID forgeries.

Hong Kong society

Hongkongers urged to quickly sign up for eMPF platform as defence against scams

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Crime in Hong Kong

5 arrested in Hong Kong over HK$1.8 million stolen from eMPF pension accounts

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Wealth management

Hong Kong’s eMPF to hit fee-cut target 5 years early, saving US$6.4 billion

MPFA chairwoman Ayesha Macpherson Lau says digital system boosts returns as assets rise to US$196.5 billion.

A key advantage of the eMPF is cost savings from digitisation, says Ayesha Macpherson Lau. Photo: Edmond So
Investing

Editorial | Hong Kong needs MPF to build on successful first 25 years

The city’s statutory pension scheme is on pace for record returns, but the rising cost of living means it cannot rest on its laurels.

Hong Kong

Hong Kong’s MPF marks 25 years with strong returns, ‘growing public confidence’

Doubling of voluntary contributions reflects retirement scheme’s importance to local residents, MPFA chairwoman says.

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Hong Kong society

On This Day | Hong Kong’s Mandatory Provident Fund launches in 2000 – from the SCMP archive

On this day 25 years ago, Hong Kong implemented its Mandatory Provident Fund scheme, requiring employees and employers to make monthly contributions.

Hong Kong’s MPF scheme was implemented on December 1, 2000. Photo: Eugene Lee
Hong Kong society

Editorial | Global recognition of Hong Kong’s pension scheme should spur more upgrades

The MPF has, over the years, widened its coverage of residents’ retirement needs and become more credible, but there is still much room for improvement.

Wealth management

Hong Kong’s pension scheme earns higher grade, still lags behind Singapore’s

The city’s US$193 billion ­compulsory retirement scheme improves to a B from a C+ in Mercer’s index, thanks largely to strong returns.

Banking & finance

MPF assets hit HK$1.5 trillion after record earnings gain in first 9 months

The performance translates to an average gain of HK$43,225 for each of the 4.8 million MPF members.

A view of the entrance to the Mandatory Provident Fund Schemes Authority headquarters in Hong Kong. Photo: Enoch Yiu
Wealth management

Hong Kong’s MPFA reviews low-fee funds to address needs of silver economy

City’s pension regulator begins review of regulations related to a fee cap for a popular investment option under the MPF.

Mandatory Provident Fund Schemes Authority chairwoman Ayesha Macpherson Lau. Photo: Edmond So
Banking & finance

Hong Kong’s eMPF could save US$6.5 billion for members in 10 years: regulator

Biggest MPF trustees – AIA, Sun Life, Manulife and HSBC – start move to the electronic platform from this week until the end of the year.

Banking & finance

Over half of Hong Kong residents plan to work past 65, survey shows

While some people cite the need to maintain an income, others say they want to keep their minds active.

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Wealth management

Number of MPF millionaires doubles as assets hit record US$178 billion

MPF pension regulator says the number of millionaires in the scheme doubles over the course of five years.

Mandatory Provident Fund Schemes Authority chairwoman Ayesha Macpherson Lau. Photo: Edmond So
Hong Kong economy

Hong Kong authorities check MPF payments after Michelin-starred eatery closes

Closure of restaurant Xin Dau Ji's Kowloon Bay branch marks end of chain that once boasted six outlets.

Xin Dau Ji is the second Chinese restaurant chain to close in July, following Super Star at the start of the month. Photo: Handout
Hong Kong economy

Hong Kong minister hints at scrapping of MPF tax break proposal for elderly

Working group has been reviewing proposal aimed at encouraging greater participation of elderly in workforce as part of silver economy push.

Wealth management

MPF achieves third-best interim return amid Hong Kong market rally

Funds investing in Hong Kong and China stocks were the top performers with 18.5 per cent gain, independent research firm said in a report.

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Hong Kong economy

Closure of Hong Kong’s Taipan bakery leaves 211 employees seeking HK$32 million

Labour Department says sum owed by bakery chain, known for ‘snow skin’ mooncakes, mostly consists of unpaid wages, dismissal compensation.

Taipan Bread & Cakes closed all of its branches after 41 years in business. Photo: Nora Tam
Hong Kong society

Letters | Rethink measures against e-cigarettes for a smoke-free Hong Kong

Readers discuss the city’s policy on alternative smoking products, the ‘silver economy’, and the fake-degree industry.

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Hong Kong economy

Editorial | It will pay Hong Kong’s workers to check their savings after MPF shake-up

Much-criticised Hong Kong retirement scheme charges lower fees since switch to electronic platform and will offer greater flexibility.

Hong Kong

Hong Kong lawmakers support fully portable MPF accounts

Letting members move their full portfolios to new providers would promote proactive management and competition, official says.

Pedestrians cross a road in Central on May 25, 2025. Photo: Eugene Lee
Hong Kong economy

Hong Kong MPF administration fees down by 36% since launch of digital platform

More than 2.7 million members and 70,000 employers to be managed under new system by end of second phase of migration in August.

Hongkongers at a pedestrian crossing in Central. The eMPF will ultimately allow 12 service providers, 367,000 employers and 4.75 million members to manage fund assets worth HK$1.326 trillion. Photo: Eugene Lee
Wealth management

MPF fund managers told to gird for US holdings after Moody’s cut

About 37 per cent of MPF’s US$167 billion total assets were invested in bond and balanced funds at the end of 2024.

Banking & finance

Hong Kong could be a step closer to listing private equity funds after MPF move

Mandatory Provident Fund Schemes Authority includes private equity funds as permissible investments for the pension fund amid market volatility.

Banking & finance

Opinion | Hongkongers deserve a financial education that empowers them

Knowing how to spend, save and invest shouldn’t be a luxury for bankers in Central but a necessity for people to thrive.

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People visit shopping mall in Mong Kok during China’s Golden Week holiday, on May 2. Photo: Elson Li
Hong Kong workers/labour rights

Fired, rehired? How Hong Kong bosses plan to save money as MPF mechanism ends

Employers can no longer dip into staff pensions to cover severance and long-service payments, as firms deploy strategies to mitigate impact.

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City leader John Lee visits frontline workers at Hong Kong International Airport. Photo: Handout
Hong Kong economy

Editorial | Putting Hong Kong’s workers first on this Labour Day

A minimum wage rise and the end of employer rights to claw back contributions from pensions for severance and long service are taking effect.

Wealth management

UK fund manager Schroders to invest more in Hong Kong, CEO says

‘When we think about where wealth is growing the fastest, it is in Asia,’ Richard Oldfield says.

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