https://www-scmp-com.libproxy1.nus.edu.sg/rss/34672/feed 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. en https://assets-v2.i-scmp.com/production/static/img/icons/scmp-meta-1200x630.png https://www-scmp-com.libproxy1.nus.edu.sg Frank Chen Frank Chen For the past few months, this newspaper has extensively covered China’s ongoing clampdown on tax avoidance, especially its push to tax the income of super-rich families held in offshore trusts. We never expected to become targets of the campaign ourselves. But there have been signs in recent weeks that officials are starting to take an interest even in the incomes of South China Morning Post journalists, with several of us being contacted by the tax man. First, a colleague with our Beijing... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3370354/why-are-mainland-chinas-tax-officials-suddenly-so-interested-my-hong-kong-mpf?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3370354/why-are-mainland-chinas-tax-officials-suddenly-so-interested-my-hong-kong-mpf?utm_source=rss_feed Sun, 11 Oct 2026 09:00:11 +0000 Yulu Ao Yulu Ao Hong Kong’s property market showed renewed strength as a Kowloon residential site fetched its highest price in nearly five years, while the city’s pension funds posted solid gains despite a September setback. Meanwhile, global investors returned to Chinese equities after years of caution, as US Treasury yields surged to multi-decade highs. Here are some of the figures that have drawn the most market attention this week. China records 2.14 billion passenger trips over National Day holiday China... https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3370277/china-holiday-travel-spikes-global-funds-shift-5-figures-investors-are-watching-china?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3370277/china-holiday-travel-spikes-global-funds-shift-5-figures-investors-are-watching-china?utm_source=rss_feed Fri, 09 Oct 2026 07:00:06 +0000 Enoch Yiu Enoch Yiu Hong Kong’s Mandatory Provident Fund (MPF) recorded a loss in September but still made overall gains of nearly HK$100 billion (US$12.8 billion) over the first nine months of the year, according to data from MPF Ratings released on Wednesday. The 382 investment funds under the MPF schemes delivered a 6.2 per cent average return in the first nine months, despite losing 1.47 per cent in September, the consultancy found. In monetary terms, they earned HK$96.9 billion over the first three quarters... https://www-scmp-com.libproxy1.nus.edu.sg/business/money/investment-products/article/3369945/hong-kongs-mpf-has-gained-nearly-hk100b-year-despite-september-loss-report?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/money/investment-products/article/3369945/hong-kongs-mpf-has-gained-nearly-hk100b-year-despite-september-loss-report?utm_source=rss_feed Wed, 07 Oct 2026 01:00:13 +0000 Emma Ma Emma Ma For Michelle Zhao, a Shanghai resident, offshore trusts had long appeared to be the preserve of people far wealthier than herself. That assumption was upended two weeks ago when she received a “baffling” text message from the Hongkou district branch of the Shanghai Municipal Tax Service. “The message said I might have taxable gains stemming from offshore trusts that I was required to declare. Yet I have never held any form of trust. I assumed the message was sent to me by mistake, so I ignored... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3368032/mainland-tax-drive-flags-hong-kong-mpf-accounts-offshore-trusts?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3368032/mainland-tax-drive-flags-hong-kong-mpf-accounts-offshore-trusts?utm_source=rss_feed Fri, 18 Sep 2026 11:00:09 +0000 Enoch Yiu Enoch Yiu Hong Kong should consider allowing the Mandatory Provident Fund to invest in more asset classes, and lure more long-term patient mainland capital, such as pension funds, to invest globally through the city, the Financial Services Development Council (FSDC) said in a report on Tuesday. The MPF, the city’s compulsory retirement scheme, now has total assets of HK$1.67 trillion (US$213 billion) and invests in stocks, bonds and deposits. The FSDC suggests allowing a portion of the funds to be... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3366722/expand-hong-kongs-mpf-investment-choices-lure-mainland-pension-funds-financial-council?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3366722/expand-hong-kongs-mpf-investment-choices-lure-mainland-pension-funds-financial-council?utm_source=rss_feed Tue, 08 Sep 2026 06:30:08 +0000 Edith Lin Edith Lin A Hong Kong advocacy group has urged the government to let residents use a portion of their mandatory pension savings for home purchases, one of several proposals submitted ahead of the policy address later this month. The Federation of Public Housing Estates noted on Wednesday that recent cuts to administration fees for the Mandatory Provident Fund (MPF) – the city’s compulsory retirement scheme – would generate higher savings for its 4.8 million members, making this an ideal time to relax... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/society/article/3366110/advocacy-group-urges-hong-kong-let-residents-tap-pension-savings-homes?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/society/article/3366110/advocacy-group-urges-hong-kong-let-residents-tap-pension-savings-homes?utm_source=rss_feed Wed, 02 Sep 2026 09:28:12 +0000 Enoch Yiu Enoch Yiu The Chamber of Hong Kong Listed Companies is urging the pension regulator to relax rules so the 4.8 million members of the Mandatory Provident Fund (MPF) can invest more in Hong Kong-listed exchange-traded funds (ETFs), according to its chairman. “ETFs can provide stable returns to MPF members while charging low management fees,” said chamber chairman Chan Ka-keung in a media briefing last week. “If more members can invest in ETFs, it would [broaden their] choices, while the city would also be... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3360992/rule-change-urged-hong-kong-pension-fund-allow-wider-etf-choice-48m-members?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3360992/rule-change-urged-hong-kong-pension-fund-allow-wider-etf-choice-48m-members?utm_source=rss_feed Mon, 20 Jul 2026 00:00:12 +0000 Enoch Yiu Enoch Yiu Hong Kong’s Mandatory Provident Fund (MPF), the city’s compulsory retirement scheme covering 4.8 million members, recorded a HK$24.4 billion (US$3.12 billion) loss in June, eroding the gains it made in the first half of this year to HK$88.8 billion. On average, each MPF member saw their pension savings suffer an investment loss of HK$5,087 in June, but they still made gains of HK$18,500 over the first six months of 2026, according to data from independent research company MPF Ratings. The... https://www-scmp-com.libproxy1.nus.edu.sg/business/money/article/3359635/hong-kongs-pension-fund-suffers-loss-june-reports-first-half-gains?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/money/article/3359635/hong-kongs-pension-fund-suffers-loss-june-reports-first-half-gains?utm_source=rss_feed Mon, 06 Jul 2026 23:30:05 +0000 Enoch Yiu Enoch Yiu Hong Kong’s pension fund will soon be able to invest in more gold exchange-traded funds (ETFs) as part of the government’s push to turn the city into a trading hub for the precious metal, a source with knowledge of the matter told the South China Morning Post. The Mandatory Provident Fund Schemes Authority (MPFA), which oversaw HK$1.53 trillion (US$195 billion) worth of pension funds as of the end of March, planned to amend the rules about gold ETF investment later this week, the person... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3359494/hong-kong-pension-fund-ease-rules-and-increase-gold-etfs-says-source?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3359494/hong-kong-pension-fund-ease-rules-and-increase-gold-etfs-says-source?utm_source=rss_feed Mon, 06 Jul 2026 02:00:27 +0000 Mike Rowse Mike Rowse Hong Kong faces the prospect of a tsunami of elderly poverty sweeping over society in the coming decades. The question is what to do about it. The good news is that there are ways to reduce the severity of the problem. The bad news is that these will take time to be effective, so we need to start work immediately. An important sign of the severity of the situation was provided by a recent study jointly conducted by the Hong Kong Retirement Schemes Association and prominent pension consultant... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/hong-kong-opinion/article/3358216/tackle-elderly-poverty-crisis-hong-kong-needs-rethink-retirement?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/opinion/hong-kong-opinion/article/3358216/tackle-elderly-poverty-crisis-hong-kong-needs-rethink-retirement?utm_source=rss_feed Sun, 28 Jun 2026 21:30:05 +0000 Danny Mok Danny Mok Sixteen people have been arrested in Hong Kong for allegedly using falsified medical certificates claiming loss of working ability or terminal illness to fraudulently withdraw HK$4.3 million (US$548,680) in Mandatory Provident Fund (MPF) savings. Police said on Thursday that the suspects comprised nine men and seven women, aged 29 to 63, who reported their occupations as chefs, drivers and waiters, among other jobs. Two of the suspects were allegedly core members of a syndicate running a... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/law-and-crime/article/3356795/16-arrested-over-bogus-mpf-withdrawal-requests-due-serious-health-problems?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/law-and-crime/article/3356795/16-arrested-over-bogus-mpf-withdrawal-requests-due-serious-health-problems?utm_source=rss_feed Thu, 11 Jun 2026 12:58:48 +0000 Enoch Yiu Enoch Yiu Hong Kong’s exceptional longevity means some individual retirees may need as much as HK$7.1 million (US$910,000) to support themselves after leaving work, exposing a wide gap between retirement needs and actual pension savings, according to a new study. The finding contrasts sharply with the average Mandatory Provident Fund (MPF) balance of HK$319,561 as of March, according to MPF Ratings. The compulsory pension scheme covers about 4.8 million members. To plug the gap, the study urged the... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3355786/price-long-life-hongkongers-may-need-us910000-retire?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3355786/price-long-life-hongkongers-may-need-us910000-retire?utm_source=rss_feed Wed, 03 Jun 2026 06:30:04 +0000 Jess Ma Jess Ma Hong Kong’s Mandatory Provident Fund Schemes Authority (MPFA) is stepping up efforts to detect fraudulent certificates used for early withdrawal of pension contributions after two medical groups reported suspected cases to police in recent weeks. Responding to an inquiry from the South China Morning Post, an authority spokesman said its online platform had recently identified suspected fraud involving possibly fake medical certificates submitted to withdraw Mandatory Provident Fund (MPF)... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/law-and-crime/article/3353824/hong-kongs-mpf-authority-flags-fraudulent-certificates-early-pension-payouts?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/law-and-crime/article/3353824/hong-kongs-mpf-authority-flags-fraudulent-certificates-early-pension-payouts?utm_source=rss_feed Sun, 17 May 2026 01:00:10 +0000 Ng Kang-chung Ng Kang-chung Calls have been renewed to allow Hong Kong’s young families to use part of their mandatory pension savings to buy homes, with a recent survey finding that high flat prices and large down payments have dampened their desire to own property. The study released on Sunday also called for the government to offer housing loans to first-time buyers and to halve the down payment required for middle-income home hunters to buy subsidised sale flats. Two policy think tanks, New Youth Forum and the... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/society/article/3352282/calls-grow-tap-mpf-housing-young-hongkongers-desire-buy-homes-wanes?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/society/article/3352282/calls-grow-tap-mpf-housing-young-hongkongers-desire-buy-homes-wanes?utm_source=rss_feed Sun, 03 May 2026 12:24:23 +0000 Enoch Yiu Enoch Yiu Global retail investors have pulled back into cash amid uncertainties from Middle East conflicts, while high-net-worth clients have continued to pursue investment opportunities in Asia and alternative assets, according to the CEO of Schroders. “What we saw in March was a reversal of the trend that we had seen at the end of 2025 and in January and February, when people increased their interest in investing in stocks,” said Richard Oldfield, global CEO of Schroders. “What really happened in March... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3350531/global-retail-investors-shift-cash-asia-still-draws-wealthy-clients-schroders-ceo?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3350531/global-retail-investors-shift-cash-asia-still-draws-wealthy-clients-schroders-ceo?utm_source=rss_feed Sun, 19 Apr 2026 23:30:10 +0000 Enoch Yiu Enoch Yiu Hong Kong’s Mandatory Provident Fund (MPF) recorded its first decline in assets in nearly a year in March, snapping a 10-month run of growth as investment losses weighed on the compulsory retirement scheme covering 4.8 million members. Total MPF assets fell to HK$1.532 trillion (US$196 billion) at the end of March, down HK$99.2 billion, or 6 per cent, from a record HK$1.63 trillion a month earlier, according to MPF Ratings, an independent consultancy tracking the system’s performance. Assets... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3349420/mpfs-10-month-rally-runs-out-steam-assets-drop-6-cent-march?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3349420/mpfs-10-month-rally-runs-out-steam-assets-drop-6-cent-march?utm_source=rss_feed Wed, 08 Apr 2026 23:30:07 +0000 Enoch Yiu Enoch Yiu Hong Kong’s Mandatory Provident Fund (MPF) is poised to report a loss of over HK$100 billion (US$12.8 billion) for March this week, its worst monthly loss in dollar terms since its inception 25 years ago. The sharp fall in global stock markets last month hit the MPF hard, while the uncertainties ahead stemming from the Middle East conflict have led the pension regulator and analysts to urge the 4.8 million members to adopt a diversified approach. The 378 MPF investment funds suffered a HK$103.3... https://www-scmp-com.libproxy1.nus.edu.sg/business/markets/article/3348982/hong-kongs-mpf-set-report-worst-performance-3-years-march?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/markets/article/3348982/hong-kongs-mpf-set-report-worst-performance-3-years-march?utm_source=rss_feed Mon, 06 Apr 2026 05:00:08 +0000 SCMP Editorial SCMP Editorial Most Hong Kong bosses are law-abiding, but inevitably there are dodgy ones who don’t contribute their share of employee pension on time. They may need to face a greater penalty. Worrying data from the Mandatory Provident Fund Schemes Authority (MPFA) shows that only one in six employers settled the arrears within the two-week deadline. As a result, the authority now proposes more punitive surcharges in such cases. It’s about time. The current penalty is too lenient. At present, the surcharge for... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/comment/article/3348656/mpf-scheme-must-move-times-better-meet-worker-needs?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/opinion/comment/article/3348656/mpf-scheme-must-move-times-better-meet-worker-needs?utm_source=rss_feed Wed, 01 Apr 2026 22:45:08 +0000 Ng Kang-chung Ng Kang-chung Hong Kong employers could face punitive surcharges for failing to pay outstanding contributions to their staff members’ pension accounts for extended periods, with data showing only one in six bosses settled the arrears within the prescribed two-week deadline. The Mandatory Provident Fund Schemes Authority (MPFA), which manages the city’s pension plans, said it was working on a “two-tier surcharge” mechanism proposal that it hoped to present to the government by the middle of the year. In a blog... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/society/article/3348298/mpf-authority-propose-2-tier-surcharges-late-employer-contributions?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/society/article/3348298/mpf-authority-propose-2-tier-surcharges-late-employer-contributions?utm_source=rss_feed Sun, 29 Mar 2026 10:18:10 +0000 Enoch Yiu Enoch Yiu The electronic platform of the Mandatory Provident Fund (eMPF) will cut administration fees for 378 investment funds by more than 21 per cent from April 1, the pension regulator said on Tuesday, adding that this will achieve its cost-saving target of HK$50 billion (US$6.4 billion) in less than 10 years. Financial Secretary Paul Chan Mo-po approved the reduction, which would lower administration costs from 0.37 per cent to 0.29 per cent of assets under management, representing a 21.6 per cent fee... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3347671/hong-kongs-empf-cut-fees-216-april-saving-us64-billion-10-years?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3347671/hong-kongs-empf-cut-fees-216-april-saving-us64-billion-10-years?utm_source=rss_feed Tue, 24 Mar 2026 05:06:37 +0000 SCMP Editorial SCMP Editorial People have long complained their mandatory pensions will never be enough to retire on. That is true, but the flip side is that by contributing less than many comparable pension schemes overseas, local workers have more spending power in the present. There is always a trade-off. Perhaps the Mandatory Provident Fund (MPF) scheme should be seen more as a financial cushion for a person at the end of their working life, rather than a nest egg. Still, the scheme needs to continue to keep up with, or... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/comment/article/3346183/raising-mpf-contribution-levels-tricky-necessary-step-hong-kong?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/opinion/comment/article/3346183/raising-mpf-contribution-levels-tricky-necessary-step-hong-kong?utm_source=rss_feed Wed, 11 Mar 2026 23:15:08 +0000 Leopold Chen Leopold Chen Proposals by Hong Kong’s pension regulator to increase Mandatory Provident Fund (MPF) contributions for higher-paid workers by up to 33 per cent could worsen business challenges and hurt the jobs market, a lawmaker and human resources expert have warned. A labour representative, however, urged the Mandatory Provident Fund Schemes Authority (MPFA) to pursue even bolder increases to meet statutory requirements and reflect rising salaries. The MPFA had announced that it was reviewing the maximum... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3346008/proposed-33-rise-mpf-payments-may-deepen-business-pressures-hit-jobs?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3346008/proposed-33-rise-mpf-payments-may-deepen-business-pressures-hit-jobs?utm_source=rss_feed Mon, 09 Mar 2026 12:39:13 +0000 Leopold Chen Leopold Chen Hong Kong’s workers and employers may have to each pay up to HK$2,000 (US$255) a month or 33 per cent more than the present level into the Mandatory Provident Fund, as the pension regulator proposed to raise the contribution threshold, which has remained unchanged for 13 years. The Federation of Hong Kong Industries, one of the city’s largest business chambers, revealed on Sunday evening the Mandatory Provident Fund Schemes Authority (MPFA) had consulted its leaders and proposed increasing the... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3345860/hong-kong-may-raise-mpf-contributions-after-13-year-freeze-thresholds?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3345860/hong-kong-may-raise-mpf-contributions-after-13-year-freeze-thresholds?utm_source=rss_feed Sun, 08 Mar 2026 06:14:25 +0000 Enoch Yiu Enoch Yiu Fewer Hongkongers withdrew funds from the city’s mandatory pension plan in the fourth quarter of last year, as a stock market rally prompted more members to leave their investments in place even when they stopped working or left the city, according to analysts. The number of people taking their money out of the Mandatory Provident Fund (MPF) because they were leaving Hong Kong permanently fell 39 per cent in the final three months of 2025 from the previous quarter, to 4,200 cases, according to... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3345458/more-hongkongers-leave-money-mpf-pension-plan-capitalise-market-rally?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3345458/more-hongkongers-leave-money-mpf-pension-plan-capitalise-market-rally?utm_source=rss_feed Wed, 04 Mar 2026 12:30:08 +0000 Enoch Yiu Enoch Yiu The Year of the Horse is set to bring volatility for the investments of Hong Kong’s 4.8 million Mandatory Provident Fund (MPF) members, following a record-breaking Year of the Snake that ended on Monday, according to analysts. The next zodiac year, which begins on Tuesday, is the seventh in the Chinese lunar calendar’s 12-year cycle, each represented by an animal. The Year of the Snake delivered estimated earnings of HK$251.6 billion (US$32 billion), the highest on record since the MPF was... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3343304/can-hong-kongs-48-million-mpf-members-repeat-record-gains-year-horse?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3343304/can-hong-kongs-48-million-mpf-members-repeat-record-gains-year-horse?utm_source=rss_feed Mon, 16 Feb 2026 02:00:09 +0000 Leopold Chen Leopold Chen The operator of Hong Kong’s Mandatory Provident Fund (MPF) has tightened its online security by scrapping an electronic verification system after scammers used forged identity cards to open accounts and steal residents’ pensions. Ayesha Macpherson Lau, chairwoman of the Mandatory Provident Fund Schemes Authority, said in a blog post on Sunday that the body had jettisoned the identification tool for its eMPF online platform in favour of the government’s one-stop verification app, “iAM Smart”. The... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3341160/mpf-operator-tightens-identity-verification-process-wake-scam?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3341160/mpf-operator-tightens-identity-verification-process-wake-scam?utm_source=rss_feed Sun, 25 Jan 2026 09:36:43 +0000 Enoch Yiu Enoch Yiu Strong investment gains and contributions brought total Mandatory Provident Fund (MPF) assets to an all-time high of HK$1.55 trillion (US$199 billion) at the end of 2025, a growth of HK$260 billion from a year earlier, according to the data released on Tuesday by the city’s pension regulator. That meant each of the 4.79 million MPF members had an average of HK$323,590 in their account last year, about HK$54,749 more than in 2024, based on the Post’s calculations using data from the Mandatory... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3338941/mpf-assets-grow-record-us199-billion-back-hong-kong-stock-market-rally?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3338941/mpf-assets-grow-record-us199-billion-back-hong-kong-stock-market-rally?utm_source=rss_feed Tue, 06 Jan 2026 10:31:40 +0000 SCMP Editorial SCMP Editorial Hong Kong people work hard and contribute to their Mandatory Provident Fund (MPF) accounts for retirement, so they must be protected with the utmost security. News reports about the theft of HK$1.8 million (US$231,300) from the city’s online MPF platform are worrying as the fund holds HK$1.5 trillion in net assets that belong to 4.75 million account holders. Five men have been arrested on suspicion of identity theft to make unauthorised transfers. Bearing in mind that many people do not... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/comment/article/3337724/vigilance-essential-hongkongers-hit-more-online-scams?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/opinion/comment/article/3337724/vigilance-essential-hongkongers-hit-more-online-scams?utm_source=rss_feed Sun, 28 Dec 2025 22:45:09 +0000 Oscar Liu Oscar Liu Cybersecurity experts have urged Hong Kong residents to prioritise the use of an official one-stop digital identity app to register their accounts on the city’s new centralised pension fund platform to prevent theft after scammers made off with HK$1.8 million. Some also questioned why the Mandatory Provident Fund Schemes Authority (MPFA), which manages the eMPF platform, did not deploy the government’s “iAM Smart” app as a mandatory process for verifying users’ identity from the outset. They... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/society/article/3337390/hongkongers-urged-quickly-sign-empf-platform-defence-against-scams?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/society/article/3337390/hongkongers-urged-quickly-sign-empf-platform-defence-against-scams?utm_source=rss_feed Tue, 23 Dec 2025 00:30:12 +0000 Wynna Wong Wynna Wong Hong Kong police have arrested five men on suspicion of posing as Mandatory Provident Fund (MPF) account holders to withdraw HK$1.8 million (US$231,300) from the city’s new online pension fund platform. The scam also prompted the Mandatory Provident Fund Schemes Authority, which manages the pension scheme, to immediately suspend its paperless verification process, known as eKYC, for registering online platform users. It apologised for any inconvenience caused. Chief Inspector Lee Chun-man of the... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/law-and-crime/article/3337048/hong-kong-police-arrest-5-over-stealing-hk18-million-mpf-account-holders?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/law-and-crime/article/3337048/hong-kong-police-arrest-5-over-stealing-hk18-million-mpf-account-holders?utm_source=rss_feed Fri, 19 Dec 2025 07:55:53 +0000 Enoch Yiu Enoch Yiu The electronic platform of the Mandatory Provident Fund (eMPF) is expected to reach its fee cut target five years ahead of schedule and could save the scheme’s 4.75 million members HK$50 billion (US$6.4 billion) in less than 10 years, according to the chairwoman of the pension regulator. The Mandatory Provident Fund Schemes Authority (MPFA) revised its estimates of cost savings from the eMPF platform on Monday during a media briefing hosted by Ayesha Macpherson Lau, who provided an update on the... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3336392/hong-kongs-empf-hit-fee-cut-target-5-years-early-saving-us64-billion?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3336392/hong-kongs-empf-hit-fee-cut-target-5-years-early-saving-us64-billion?utm_source=rss_feed Mon, 15 Dec 2025 08:00:09 +0000 SCMP Editorial SCMP Editorial Month by month, Hongkongers have been saving up for retirement for a quarter of a century under a statutory pension scheme. While the accumulated Mandatory Provident Fund (MPF) contributions are not enough in a city known for its high cost of living and longevity, the good news is their piggy banks are growing. As the MPF turns 25 years old this month, its total assets have grown to a record HK$1.5 trillion (US$192 billion). Most of the funds have delivered solid returns that enabled all but the... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/comment/article/3336174/hong-kong-needs-mpf-build-successful-first-25-years?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/opinion/comment/article/3336174/hong-kong-needs-mpf-build-successful-first-25-years?utm_source=rss_feed Sat, 13 Dec 2025 23:15:12 +0000 Enoch Yiu Enoch Yiu The Mandatory Provident Fund (MPF) turns 25 years old this month, with most of its pension funds delivering solid returns that have enabled all but the most conservative members to outpace both inflation and bank deposits, according to data from the pension regulator. The year-to-date net investment return of the MPF stood at 15 per cent, putting the retirement scheme on track for its best year since 2017, when it reported an annual return of 22.3 per cent, according to data from the Mandatory... https://www-scmp-com.libproxy1.nus.edu.sg/business/markets/article/3335674/hong-kongs-mpf-marks-25-years-strong-returns-growing-public-confidence?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/markets/article/3335674/hong-kongs-mpf-marks-25-years-strong-returns-growing-public-confidence?utm_source=rss_feed Tue, 09 Dec 2025 02:00:09 +0000 SCMP SCMP This article was originally published on December 2, 2000 By Felix Chan Warning for MPF-dodging bosses Employers were warned on Friday (December 1, 2000), the day the Mandatory Provident Fund (MPF) was launched, that they could not escape paying their fair share. Only about 135,000 employers, 54 per cent of those required to do so, had signed up by the deadline. About 1.44 million employees and 124,000 self-employed had joined, representing 71 per cent and 44 per cent, respectively, of those... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/society/article/3334711/hong-kongs-mandatory-provident-fund-launches-2000-scmp-archive?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/society/article/3334711/hong-kongs-mandatory-provident-fund-launches-2000-scmp-archive?utm_source=rss_feed Mon, 01 Dec 2025 06:15:08 +0000 SCMP Editorial SCMP Editorial If Hong Kong’s universal pension fund were in school, it would have gone from being a C+ student to a B student. The city’s 4.8 million fund contributors have always acted like demanding parents, complaining about its inadequacy and poor performance. But sometimes a bit of encouragement is called for. The HK$1.5 trillion (US$193 billion) Mandatory Provident Fund (MPF) has risen in a global ranking by scoring 70.6 points out of 100 in the annual Mercer CFA Institute’s Global Pension Index, up... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/comment/article/3330485/global-recognition-hong-kongs-pension-scheme-should-spur-more-upgrades?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/opinion/comment/article/3330485/global-recognition-hong-kongs-pension-scheme-should-spur-more-upgrades?utm_source=rss_feed Mon, 27 Oct 2025 22:45:07 +0000 Enoch Yiu Enoch Yiu Hong Kong’s pension scheme improved its overall adequacy, sustainability and integrity over the past 12 months, rising from a C+ grade to a B – equal to schemes in some European countries but still trailing Singapore’s – according to a report released on Wednesday. The HK$1.5 trillion (US$193 billion) Mandatory Provident Fund (MPF) scored 70.6 points out of a ­possible 100 in the annual Mercer CFA Institute’s Global Pension Index, up from 63.9 last year. The programme now holds the third-best... https://www-scmp-com.libproxy1.nus.edu.sg/business/markets/article/3328990/hong-kongs-pension-scheme-earns-higher-grade-still-lags-behind-singapores?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/markets/article/3328990/hong-kongs-pension-scheme-earns-higher-grade-still-lags-behind-singapores?utm_source=rss_feed Tue, 14 Oct 2025 23:00:21 +0000 Enoch Yiu Enoch Yiu The Hong Kong Mandatory Provident Fund (MPF) achieved record earnings of HK$207 billion (US$26.5 billion) in the first nine months of this year, pushing total assets to the HK$1.5 trillion mark for the first time, according to the pension regulator on Monday. The performance translated to an average gain of HK$43,225 for each of the 4.8 million MPF members, according to data from MPF Ratings, an independent research firm. The record figure for the first three quarters of the year was 18 per cent... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3328036/hong-kongs-mpf-assets-hit-hk15-trillion-after-record-gain-first-9-months?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3328036/hong-kongs-mpf-assets-hit-hk15-trillion-after-record-gain-first-9-months?utm_source=rss_feed Tue, 07 Oct 2025 01:15:07 +0000 Enoch Yiu Enoch Yiu The city’s pension regulator has begun a review of regulations related to a fee cap for a popular investment option under the Mandatory Provident Fund (MPF), as Hongkongers get older and work past the traditional retirement age. In a recent interview, chairwoman Ayesha Macpherson Lau of the Mandatory Provident Fund Schemes Authority (MPFA) said the review, to be completed next year, would be the first attempt at reforming the low-fee Default Investment Strategy (DIS) fund since its launch in... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3324053/hong-kongs-mpfa-reviews-low-fee-funds-address-needs-silver-economy?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3324053/hong-kongs-mpfa-reviews-low-fee-funds-address-needs-silver-economy?utm_source=rss_feed Tue, 02 Sep 2025 23:30:08 +0000 Enoch Yiu Enoch Yiu The 4.75 million members of Hong Kong’s Mandatory Provident Fund (MPF) could save up to HK$50 billion (US$6.4 billion) in fees over a 10-year period after its electronic platform’s full implementation next year, according to the city’s retirement schemes regulator. The Mandatory Provident Fund Schemes Authority (MPFA) revised its original estimate made a few years earlier of HK$30 billion to HK$40 billion in savings from fee reduction because the digital platform, called eMPF, worked better than... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3323749/hong-kongs-empf-could-save-us65-billion-members-10-years-regulator-says?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3323749/hong-kongs-empf-could-save-us65-billion-members-10-years-regulator-says?utm_source=rss_feed Sun, 31 Aug 2025 01:00:16 +0000 Enoch Yiu Enoch Yiu More than half of Hong Kong residents do not plan to retire at the typical retirement age of 65, with many feeling that they cannot reach the average HK$5 million (US$637,000) savings target necessary for a comfortable post-work life, according to the T. Rowe Price Hong Kong Retirement Survey released on Thursday. About 52 per cent of respondents indicated they would not retire at age 65. Among them, about 80 per cent preferred not to retire at all or opted instead for a “micro-retirement”,... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3321014/over-half-hong-kong-residents-plan-work-past-65-due-retirement-savings-shortfall?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3321014/over-half-hong-kong-residents-plan-work-past-65-due-retirement-savings-shortfall?utm_source=rss_feed Thu, 07 Aug 2025 03:30:10 +0000 Enoch Yiu Enoch Yiu Hong Kong’s pension regulator said the number of millionaires in its scheme doubled as the total assets of the Mandatory Provident Fund (MPF) reached an all-time high of HK$1.4 trillion (US$178 billion) as of June, an increase of 130 per cent from 10 years earlier. In a blog post on Sunday, Mandatory Provident Fund Schemes Authority (MPFA) chairwoman Ayesha Macpherson Lau said around 125,000 MPF members had assets of more than HK$1 million, double the tally from five years earlier. The MPFA... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3319645/number-millionaires-hong-kong-mpf-doubles-assets-hit-us178-billion-mpfa-chair?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3319645/number-millionaires-hong-kong-mpf-doubles-assets-hit-us178-billion-mpfa-chair?utm_source=rss_feed Sun, 27 Jul 2025 02:00:29 +0000 Joshua Kwok Joshua Kwok Hong Kong’s pension authority is looking into HK$100,000 (US$12,740) in missing payments for 20 employees from the Michelin-starred Chinese restaurant Xin Dau Ji, following the chain’s abrupt closure of its Kowloon Bay branch on Wednesday. The Mandatory Provident Fund Schemes Authority said on Friday that it was pursuing the missing contributions for April and May. Lawmaker Aron Kwok Wai-keung confirmed that the restaurant had closed on July 9, with about 20 affected staff contacting the Labour... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3317911/hong-kongs-mpf-authority-seeks-missing-payments-workers-now-closed-chain?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3317911/hong-kongs-mpf-authority-seeks-missing-payments-workers-now-closed-chain?utm_source=rss_feed Fri, 11 Jul 2025 11:12:08 +0000 Fiona Sun Fiona Sun Hong Kong’s labour minister has dropped the biggest hint yet that authorities intend to scrap a proposal to raise the tax deduction amount for employers’ voluntary pension contributions to older workers, a plan for encouraging greater workforce participation. Secretary for Labour and Welfare Chris Sun Yuk-han said on Wednesday that a government working group on promoting the silver economy decided that the proposed tax initiative “complicated” the policy objective of the Mandatory Provident Fund... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3317576/hong-kong-minister-hints-scrapping-mpf-tax-break-proposal-elderly?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3317576/hong-kong-minister-hints-scrapping-mpf-tax-break-proposal-elderly?utm_source=rss_feed Wed, 09 Jul 2025 11:41:57 +0000 Enoch Yiu Enoch Yiu Hong Kong’s Mandatory Provident Fund (MPF) achieved its third-best interim performance as a rally in Chinese stocks this year improved returns and helped lift total assets to the highest level since its inception in 2000. Managers overseeing 379 investment funds under the compulsory retirement scheme generated a combined HK$115 billion (US$14.6 billion) of income from January to June this year, according to MPF Ratings, an independent research firm. That was equivalent to HK$24,100 for each of... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3317168/hong-kongs-mpf-funds-earn-hk24100-member-first-half-research-firm-says?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3317168/hong-kongs-mpf-funds-earn-hk24100-member-first-half-research-firm-says?utm_source=rss_feed Mon, 07 Jul 2025 01:15:29 +0000 Elizabeth Cheung,Vivian Au Elizabeth Cheung,Vivian Au The closure of a 41-year-old Hong Kong bakery chain, known for its “snow skin” mooncakes, has left 211 employees seeking help from labour authorities over HK$32 million (US$4.1 million) in unpaid wages, dismissal compensation and other debts. The Labour Department said on Wednesday that the sum owed by Taipan Bread & Cakes mostly consisted of unpaid wages and dismissal compensation. “We are very concerned about the incident and urge the affected employees to register their information with the... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3315729/199-hongkongers-seek-help-after-closure-snow-skin-mooncake-inventor-taipan?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3315729/199-hongkongers-seek-help-after-closure-snow-skin-mooncake-inventor-taipan?utm_source=rss_feed Wed, 25 Jun 2025 04:00:03 +0000 Letters Letters Feel strongly about these letters, or any other aspects of the news? Share your views by emailing us your Letter to the Editor at letters@scmp.com or filling in this Google form. Submissions should not exceed 400 words, and must include your full name and address, plus a phone number for verification I refer to “70% of Hongkongers under 25 have tried e-cigarettes: university poll” (May 23). While some support a complete ban on alternative smoking products (ASPs), their widespread use is crystal... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/letters/article/3313210/rethink-measures-against-e-cigarettes-smoke-free-hong-kong?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/opinion/letters/article/3313210/rethink-measures-against-e-cigarettes-smoke-free-hong-kong?utm_source=rss_feed Fri, 06 Jun 2025 03:30:07 +0000 SCMP Editorial SCMP Editorial Hong Kong’s retirement savings scheme has had its fair share of criticism over the years. The meagre compulsory monthly contributions and relatively high administration fees charged by private service providers mean many retirees are struggling to make ends meet. Thankfully, a revamp is under way. It is welcome news that fees charged under the Mandatory Provident Fund (MPF) have fallen by 36 per cent since the launch of a centralised electronic platform last year, one of the scheme’s most... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/comment/article/3313092/it-will-pay-hong-kongs-workers-check-their-savings-after-mpf-shake?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/opinion/comment/article/3313092/it-will-pay-hong-kongs-workers-check-their-savings-after-mpf-shake?utm_source=rss_feed Thu, 05 Jun 2025 00:15:08 +0000 Enoch Yiu Enoch Yiu Some Hong Kong lawmakers expressed support for allowing “full portability” in the city’s Mandatory Provident Fund (MPF), which would allow members to move their entire pension balance to a different provider once a year. A Legislative Council panel meeting discussed a legal change on Monday that would implement full portability next year. Currently, members can move their own contributions, but not those made by their employer, once a year. Chief Executive John Lee Ka-chiu unveiled the proposed... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3312722/hong-kong-lawmakers-support-mpf-change-make-accounts-fully-portable?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3312722/hong-kong-lawmakers-support-mpf-change-make-accounts-fully-portable?utm_source=rss_feed Mon, 02 Jun 2025 07:16:49 +0000 Lam Ka-sing Lam Ka-sing Fees charged by Hong Kong’s Mandatory Provident Fund have dropped by 36 per cent since the launch of its centralised digital platform last year, with more than 2.7 million members and 70,000 employers to be managed under the new system by August, the scheme’s chief has said. But Mandatory Provident Fund Schemes Authority chairwoman Ayesha Macpherson Lau warned on Sunday that the next phase of migration onto the platform would be “very challenging”, as moving large volumes of data from the city’s... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3312638/admin-fees-hong-kongs-mpf-down-36-launch-digital-platform?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3312638/admin-fees-hong-kongs-mpf-down-36-launch-digital-platform?utm_source=rss_feed Sun, 01 Jun 2025 08:07:37 +0000 Enoch Yiu Enoch Yiu Fund managers participating in Hong Kong’s US$167 billion Mandatory Provident Fund (MPF) scheme may be forced to sell part of their holdings of US government bonds after the country lost its triple-A grade from three of the biggest rating companies. The Mandatory Provident Fund Schemes Authority (MPFA), the scheme’s regulator, has instructed MPF trustees and fund managers to prepare for a contingency plan if the last remaining credit agency downgrades the US government bonds. “Recently, the MPFA... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3311854/hong-kongs-mpf-managers-told-prepare-us-bond-holdings-after-moodys-downgrade-mpfa?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3311854/hong-kongs-mpf-managers-told-prepare-us-bond-holdings-after-moodys-downgrade-mpfa?utm_source=rss_feed Mon, 26 May 2025 11:15:48 +0000