Hong Kong MPF: the three scheme types

If you are a worker or self-employed person aged 18 to 65, you must join an MPF scheme. Before the MPF began, only a few Hong Kong workers had retirement benefits. There are three main types of MPF schemes, each serving different members.

Who must contribute?

Regular employees, casual employees and self-employed persons aged 18 to 65. Regular employees must be employed continuously for at least 60 days; casual employees hired on a daily basis join once they work 60 days in a row; the self-employed contribute when they earn income.

What are the three scheme types?

Master trust schemes are the most common, alongside employer-sponsored and industry schemes.

What is the Capital Preservation Product?

Every scheme must offer a capital preservation product (CPP), aiming for returns comparable to bank term deposits. The CPP uses a conservative structure to protect members’ capital, with guidelines ensuring diversification of assets including foreign exchange.

When can you get the money back?

Not before age 65. The goal of the MPF account is long-term returns — the further you are from retirement, the earlier you should save, because future bills will only grow. Before investing, understand your financial circumstances and study the fee structure.

For MPF withdrawal rules, visit the MPF education centre, or compare schemes at MPF fund comparison.