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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.
Commuters walk in Central on October 20, 2025. Photo: Sun Yeung
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.

Hong Kong society

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

Hong Kong society

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

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.

People cross a street in Central on September 16, 2025. Photo: Eugene Lee
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.

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.

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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.

The eMPF enables Hong Kong retirement scheme members to manage their accounts through a single digital platform. Photo: Nora Tam
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.

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.

The number of people aged 65 and above in Hong Kong is expected to increase from 1.64 million in 2023 to 2.67 million in 2043. Photo: Elson Li
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.

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.

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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People vape in Central district on April 25. Photo: Jonathan Wong
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.

A cleaning worker is seen in Tsim Sha Tsui. Photo: Jelly Tse
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.

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.

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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.

The MPF’s total assets stood at HK$1.3 trillion (US$167 billion) at the end of 2024. Photo: Eugene Lee
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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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.

Workers are seen on scaffolding on Hong Kong Tower at King’s Road, North Point. Photo: Sam Tsang
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.

Wealth management

Hong Kong’s MPF gains US$4.5 billion in first quarter due to market rally

Hong Kong and China equities led all asset classes in the first quarter, while US equities slumped, according to MPF Ratings.

Hong Kong healthcare and hospitals

Letters | Why not let Hongkongers pay medical fees with MPF, like in Singapore?

Readers discuss ways to alleviate the fiscal healthcare burden, the impact of the fee revision on low-income families, and the Chinese term for primary healthcare.

A busy day at the Accident & Emergency Department of Queen Elizabeth Hospital in Jordan, Hong Kong, on March 25. Photo: Jelly Tse
Wealth management

Women in Hong Kong face huge retirement income shortfall, Fidelity study shows

Women expect an average monthly expense of HK$24,235 (US$3,120) after retirement but face an income-gap, study shows.

Women in Hong Kong are likely to take a more cautious approach to investing than men. Photo: Dickson Lee
ESG investing

Hong Kong raises ESG disclosure standards for MPF managers

The 12 fund managers have up to end-September to ensure their ESG disclosures match the new requirements.

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Banking & finance

Second phase of Hong Kong’s eMPF reform to start in March with more enhancements

Bank of East Asia, Principal Trust Company and two other providers are set to join the pension plan’s digital platform as it scales up.

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