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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.
Retirees exercise at a Hong Kong park. Rising life expectancy means some Hongkongers may need up to US$910,000 to fund a comfortable retirement, according to a new study. Photo: Sam Tsang
Wealth management

The price of a long life: Hongkongers may need US$910,000 to retire

Study urges more tax incentives for voluntary pension savings, while a lawmaker suggests retirees consider lower-cost living in the Greater Bay Area.

Crime in Hong Kong

Hong Kong’s MPF authority flags fraudulent certificates in early pension payouts

Hong Kong housing

Calls grow to tap MPF for housing as young Hongkongers’ desire to buy homes wanes

Banking & finance

Cash holdings rise amid war, but Asia remains key for wealthy: Schroders CEO

High-net-worth clients continue to seek opportunities in Asia, taking a longer-term view despite global uncertainties, Richard Oldfield says.

Schroders Group CEO Richard Oldfield at the company’s Hong Kong office in Admiralty on April 15. Photo: Eugene Lee
Wealth management

MPF growth streak breaks as assets fall 6 per cent in March

Average pension savings fell HK$20,071 in March, leaving members HK$4,556 lower for the quarter.

Wealth management

Hong Kong’s MPF set to report worst performance in 3 years in March

The MPF funds’ monthly showing was the worst in three years as they tracked the Hang Seng Index, which also fell to a three-year low.

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Hong Kong workers/labour rights

Editorial | MPF scheme must move with the times to better meet worker needs

Without excessively burdening businesses in this tough economic environment, the MPF authority needs to make changes.

People cross a road in Central, Hong Kong’s premier business district, on March 9. Photo: Dickson Lee
Hong Kong society

MPF authority to propose 2-tier surcharges for late employer contributions

Only one in six bosses in Hong Kong settled arrears within the prescribed two-week deadline, authority says.

Banking & finance

Hong Kong’s eMPF members to see 21.6% reduction in fees

The fee cut, which lowers administration costs from 0.37 per cent to 0.29 per cent, has been approved by Financial Secretary Paul Chan.

Hong Kong economy

Editorial | Raising MPF contribution levels tricky but necessary step for Hong Kong

Increasing the amount workers and employers contribute is likely warranted, but there is room for dialogue on how large the increase should be.

People crossing the street in Central. The Mandatory Provident Fund Authority has proposed raising contributions into the city’s pension fund for the first time in 13 years. Photo: Edmond So
Hong Kong economy

Proposed 33% rise in MPF payments ‘may pile on business pressure, hit jobs’

But labour sector lawmaker calls for bolder increases in maximum income level threshold to meet statutory requirements and reflect rising salaries.

More than 2.6 million employees are registered under MPF schemes. Photo: Dickson Lee
Hong Kong economy

MPF payments may rise 33% to HK$2,000 a month under first change in 13 years

Mandatory Provident Fund Schemes Authority also proposes increasing minimum and maximum income levels for contributions to HK$10,000 and HK$40,000.

Wealth management

More Hongkongers leave money in MPF pension plan amid market rally

Withdrawals by people leaving the city or retiring dropped last quarter, indicating expectations of greater gains, analysts say.

Banking & finance

Can Hong Kong’s MPF members repeat record gains in Year of the Horse?

Volatility looms in the Year of the Horse, analysts forecast, after the Year of the Snake delivered estimated earnings of US$32 billion.

People walk during lunch hour in Central, Hong Kong. In the previous Year of the Horse in 2014, MPF members earned 2.2 per cent, while in 2002 they lost 0.4 per cent. Photo: Karma Lo
Hong Kong economy

Hong Kong MPF operator tightens identity verification process in wake of scam

Head of Mandatory Provident Fund Schemes Authority says government ‘cannot fail’ to protect Hongkongers’ retirement savings.

Hong Kong authorities have scrapped the “electronic Know-Your-Customer” or eKYC system and urged residents to register with eMPF using the government’s iAM Smart app. Photo: Handout
Wealth management

MPF assets reach record high of US$199 billion amid Hong Kong stock market rally

Each of the MPF’s 4.79 million members recorded an average of HK$323,590 in their account at the end of 2025.

Crime in Hong Kong

Editorial | Vigilance essential as Hongkongers hit by more online scams

The authorities must take the breach of the eMPF platform seriously, rectify the underlying vulnerabilities and restore confidence in the electronic system.

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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.

Hongkongers urged to sign up for eMPF platform as defence against scams
Hong Kong society

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

Cybersecurity experts call on residents to move quickly after HK$1.8 million stolen from three MPF accounts.

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Crime in Hong Kong

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

Scammers impersonated account holders to withdraw funds, prompting managing body to suspend digital verification process.

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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.

People cross a road in Central during lunch hour on January 6. Photo: Jelly Tse
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

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

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.

Commuters walk through Hong Kong’s Central district on September 16. The MPF, a major pillar of an average worker’s retirement needs, has come a long way from its inception. Photo: Eugene Lee
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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