Do Half of Workers Not Know Their MPF Account Details?

What did Convoy’s 2011 survey find?

A January 2011 Convoy Financial survey found over half of workers were unclear about their MPF preserved accounts, and half didn’t know the formal channels to check them; over 80% backed launching the Employee Choice Arrangement ASAP and said they’d exercise their rights. Convoy urged the government to help contributors manage MPF three ways, including better electronic access.

Why do so many ignore their accounts?

Frequent job changes scatter old accounts across trustees; small balances tempt neglect. Preserved accounts pile up while admin fees keep charging.

How can you find your accounts?

Check via trustees’ websites or hotlines; consolidate preserved accounts to save admin fees. Compare performance and fees at MPF fund comparison.