Checking your MPF account: how to use benefit statements and fund fact sheets

This article is a rewrite of a report from August 2012.

MPF strategy must move with life stages, and information is the essential guide before any investment decision — yet many members have no idea where to find it. Checking your MPF account is not hard once you know these documents.

What does the annual benefit statement show?

Your investment report card. Trustees must issue it within three months of each scheme financial year-end, listing account movements (contributions, transfers, fund transactions), balances, total accrued benefits, vesting proportions and gains or losses. It comes in full and simplified versions — holders of the simplified version can still request the full details. Trustees’ online platforms also show the latest account picture.

What are fund fact sheets and offering documents for?

Fact sheets are the quick read; offering documents are the deep read. Trustees issue at least two fact sheets a year covering objectives, mix, asset allocation, performance and risk — enough to size up a fund fast. Offering documents arrive at enrolment with full fee models and schedules — the MPFA required five fee categories in plain, uniform language: joining and annual fees, transaction fees deducted from accounts, fund operating fees, underlying fund charges and other service fees.

Where do you compare MPF funds?

The MPFA’s fee comparison platform. It lines up every trustee’s fund charges side by side; for unit prices and performance, check the monthly newspaper fund tables or the Hong Kong Investment Funds Association’s monthly MPF performance data.