The Mandatory Provident Fund often abbreviated as MPF, is a compulsory saving scheme (pension fund) for the retirement of residents in Hong Kong. Find more here: http://www.mpf.hk
3. The Mandatory Provident Fund often abbreviated as
MPF, is a compulsory saving scheme (pension fund)
for the retirement of residents in Hong Kong.
4. Most of employees and their employers
are required to contribute monthly to
mandatory provident fund schemes
provided by approved private
organisations, according to their salaries
and the period of employment.
5. It is a formal system of retirement protection.
6. THE MPFSO PROVIDES
A FRAMEWORK FOR
ESTABLISHING A
SYSTEM OF PRIVATELY
MANAGED,
EMPLOYMENT-RELATED
MPF SCHEMES FOR
MEMBERS OF THE
WORKFORCE TO
ACCRUE FINANCIAL
BENEFITS FOR
RETIREMENT
7. MPF investments must be done by
investment managers registered with relevant
regulatory authorities.
8. MPF trustees and investment managers are bound
by detailed duties and powers set out in the law
regarding the administration and investment
management of MPF funds.
9. MPF investments are also subject to general
restrictions, including the spread of the investments,
borrowing and lending of securities, currency exposure, etc.
10. Despite volatilities in the global economy
and financial markets, leading to
fluctuations in the return of different
types of MPF funds, the MPF System
has been adding positive value to
scheme members’ contributions.
WWW.MPF.HK