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Mandatory Provident Funds

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The Mandatory Provident Fund (MPF) has an important role to play in contributing towards the financial security of Hong Kong's working population in their retirement years. Not only is Hong Kong's population ageing (28 percent will be over 65 by the year 2039) but people are living longer, and looking forward to longer periods in retirement. The MPF System is a vital part of an overall retirement solution, along with your personal investments and insurances.

Semi Choice

The Regulations governing the administration of MPF schemes is changing with the introduction of “Semi Member Choice”. The new Regulations are intended to promote MPF savings with a greater degree of choice for the employee.

For employers, this gives rise to a number of questions:

  • How am I going to keep track of everything if employees pick different funds?
  • How can I manage employee questions
  • How can I make sense of the mayhem of different provider choices?
  • How much more paper work will I have to do?
  • Will it increase my costs?
  • Is my scheme competitive in the current market place?

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