How should employers pick an MPF scheme for staff? Three factors to compare

New entrepreneur Chi-yuen asked his friend Cheuk-man for tips on choosing an MPF scheme for employees. Cheuk-man’s advice: besides the company’s admin needs, match employees’ expectations — talk to staff first about what they want from a trustee and scheme, then pick one that fits them.

What are the three factors?

(1) Trustee service scope and quality; (2) fund choice and diversity; (3) fund fees. On service: contribution-calculation software, detailed contribution records, simple admin procedures, regular staff seminars, plus how often fund fact sheets, benefit statements and fund-switching are provided. On choice: more is generally better, but the key is fit — especially when adding a second scheme, check whether it truly diversifies options for staff.

Why listen to employees?

Because it’s their retirement money — fit matters. Cheuk-man doesn’t just consult staff before choosing; he keeps checking their views afterwards. A well-chosen scheme builds employees’ confidence in the arrangement.

To compare schemes’ fees and fund choices yourself, visit MPF fund comparison.