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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.
Lei Cheng Uk Estate in Cheung Sha Wan falls under the Tenants Purchase Scheme. Photo: Edmond So
Hong Kong housing

Advocacy group urges Hong Kong to let residents tap pension savings for homes

Federation of Public Housing Estates says recent cuts to MPF administration fees make now an ideal time to relax withdrawal restrictions.

ETFs

What MPF’s 4.8m members could gain if rules are eased for Hong Kong-listed ETFs

Banking & finance

Hong Kong’s pension fund suffers a loss in June but reports first-half gains

Gold in Hong Kong

Exclusive | All that glitters: Hong Kong pension fund to offer more gold ETFs

MPFA to relax gold ETF investment approval rules as part of Hong Kong government’s push to turn the city into a regional gold trading hub.

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Gold bricks displayed at Hong Kong Gold Exchange's Chinese New Year ceremony in Sheung Wan on February 3, 2025. Photo: Edmond So
Hong Kong society

Opinion | To tackle elderly poverty crisis, Hong Kong needs to rethink retirement

With Hongkongers living longer, there is no reason they should stop working at 65 when they can still contribute to the city’s economy.

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Crime in Hong Kong

16 arrested over bogus MPF withdrawal requests due to serious health problems

Superintendent says suspects include two alleged intermediaries who recruited and helped MPF members to file fraudulent applications.

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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.

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
Crime in Hong Kong

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

Medical groups alert police over suspected fake certificates using doctors’ details to support early pension withdrawals on health grounds.

Hong Kong housing

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

Survey finds city’s high flat prices and long-term financial burden of mortgage payments are driving declining interest.

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.

Total MPF assets fell to HK$1.532 trillion (US$196 billion) at the end of March, down HK$99.2 billion. Photo: Handout
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

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

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.

People cross the street at Central, Hong Kong’s premier business district. Photo: Dickson Lee
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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