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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.
The MPF’s March performance is expected to make for poor reading for the scheme’s 4.8 million members. Photo: May Tse
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.

Hong Kong workers/labour rights

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

Hong Kong society

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

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.

Some 4.8 million MPF scheme members will benefit from the fee cut. Photo: Sun Yeung
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.

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.

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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.

Hong Kong’s MPF regulator is considering income thresholds after fresh consultations. Photo: Sun Yeung
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.

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.

The Mandatory Provident Fund’s total asset grew by HK$290 billion, or 20 per cent, from HK$1.29 trillion at the end of 2024. Photo: SCMP
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.

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

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

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The eMPF platform provides users with a one-stop online portal for managing their pension funds. Photo: Handout
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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Screengrab of a press conference by police’s cybersecurity and technology crime bureau about the recent fraud crackdown. Photo: RTHK
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.

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.

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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.

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

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.

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.

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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Pedestrians on Des Voeux Road Central. Photo: Elson Li
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.

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.

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