MPF annual benefit statements: how to read your MPF report card

Under the Mandatory Provident Fund Schemes Ordinance, trustees must provide an “annual benefit statement” within three months of each scheme financial year-end. It is your MPF annual report card — but how do you read all those figures?

What key information is in the statement?

Contributions, fund choices, accrued benefits, account gains/losses and closing balance — all in one place. It typically shows the year’s contributions (mandatory and voluntary), fund selections, fund switches, total accrued benefits, the year’s account profit or loss and the closing balance, so you can track the account’s full-year movements.

What do you need to consolidate preserved accounts?

Scheme name, scheme number and member number. To consolidate preserved accounts across providers, these must be filled in accurately on transfer forms — errors can delay or misdirect transfers. Many providers also offer online services to check balances or change investment instructions anytime.

When the statement arrives each year, spend ten minutes checking: are contributions correct, and does the fund mix still suit your age and risk tolerance? For fund-choice basics, see the MPF education hub.