MPF confidence hits 15-year high; retirement target HK$6.48m

MPF consulting firm GUM released its 2026 MPF Confidence Index on 21 October: Hong Kong MPF members’ confidence in whether the MPF can support their retirement rose to 5.1 out of 10, up sharply from 4.0 in 2025 and rebounding from the record low of 2.8 in 2022 — a 15-year high, and the first time the index has crossed the 5-point mark. The survey was conducted between 13 and 15 August this year, covering 808 MPF members aged 18 to 64.

Three drivers behind the record confidence

GUM attributes the high to three factors: first, the compounding effect of long-term contributions — employees who have contributed since the MPF launched in 2000, now 26 years, hold average account assets of HK$783,000; second, improving investment returns — aggregate MPF returns have been positive for four consecutive years since 2023 and stand at +6.2% year to date as of September; and third, the eMPF digital platform fully launched in 2024, which has improved transparency and ease of management. In the survey, 60% of respondents agreed eMPF increased their attention to their MPF accounts.

Average retirement savings target rises 12% to HK$6.48m

Alongside rising confidence, expectations for retirement savings have grown. The proportion of respondents expecting to need HK$8 million or more for retirement rose from 21% in 2025 to 28% in 2026, while the average retirement savings target increased 12% year on year, from HK$5.79 million to HK$6.48 million. Michael Chan, managing director of GUM, said the rise in confidence reflects growing public attention to retirement planning, signalling a shift from passive participation to more active management. He and GUM strategy analyst Cheung Yin-yu stressed that the MPF is only one pillar of Hong Kong’s multi-pillar retirement protection — reaching a multi-million-dollar target requires combining voluntary savings and additional investment.

Members turn active: 75% review at least once a year

The survey also shows members becoming more engaged: 75% review their MPF performance at least once a year, and about 30% had switched funds in the past six months. Facing more schemes and investment choices ahead, 51% of respondents expressed interest in AI-powered investment analysis and fund selection tools, 51% said regular market updates would be most valuable, and 35% wanted tools to assess their risk tolerance.

Youngest most confident; 57% back full portability

By age group, members aged 18–24 are the most confident at 5.7, driven by their preference for US equity funds and clear gains, while those aged 30–44 are the least confident at 4.7, weighed down by family and home-ownership expenses. On the first phase of full portability taking effect on 21 December, 57% of respondents said they support it, and nearly 40% said they would consider transferring their account assets.