What Did Fund Managers Say About Ten Years of MPF?

What Did Fund Managers Say About Ten Years of MPF?

In May 2011, Towers Watson asked fund houses to assess a decade of MPF; the industry view was broadly positive — MPF had taught Hong Kong to save. Fidelity’s KP Luk said it built saving discipline and basic protection; what you get at retirement depends on how early you start, how much you contribute and which funds you pick.

What did the industry see as the biggest challenge?

Hong Kong people’s low awareness of retirement planning. But after ten years of accumulation, members were paying more attention — and the coming Employee Choice Arrangement would sharpen that focus.

What good had MPF done society?

The industry argued MPF shifted retirement from “relying on government” to “saving for yourself”, building personal responsibility. Criticisms aside, a decade had built real retirement reserves for workers.

How to make your own MPF work harder?

Start early, contribute more, choose well. Compare MPF funds on long-term performance.