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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 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
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

Hong Kong

Video | Hongkongers urged to use eMPF to ward off 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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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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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.

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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.

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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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.

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.

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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.

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.

The Mandatory Provident Fund Schemes Authority logo. Photo: Edmond So
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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