How big were HSBC and Hang Seng’s 2011 cuts?
From March 2011, HSBC and Hang Seng Bank cut selected MPF fees by up to 0.40 percentage points. The pair moved again after the earlier price war, with workers the direct beneficiaries.
What drove the cuts?
Impending semi-portability plus swelling asset bases pushed trustees to compete on price; BOC-Prudential and AXA had already slashed fees by over 40%.
How to lock in a cheaper plan?
Compare the latest fund expense ratios at MPF fund comparison.
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