How Well Do Workers Know Their Own MPF?

What did a 2011 survey reveal about MPF awareness?

A 2011 Convoy survey of 540+ people found only half knew their preserved MPF account details, 30% were satisfied with their employer’s scheme, and 80% felt MPF alone wouldn’t fund retirement. 40% never consolidated accounts because the process confused them; 82% backed fast-tracking semi-portability.

What did the survey recommend?

Convoy’s chairman urged swift semi-portability, better education and fee transparency, plus tax incentives from the government.

How can you get to know your MPF account?

Read your annual benefit statement; compare schemes at MPF fund comparison and be a smart contributor.