This article is a rewrite of a report from August 2012.
“Are my monthly MPF contributions managed and invested by the MPFA?” The answer: no. The authority doesn’t touch the money — it regulates. Answering “what is MPF” starts with knowing who does what.
Who handles your money?
MPF is a privately run retirement system; day-to-day operations sit with trustees and service providers:
| Role | Does what |
|---|---|
| Employer | Pays contributions to the trustee monthly |
| Trustee | Pools and verifies contributions, allocates them to member accounts, buys fund units per employee choice |
| Fund manager | Invests per set strategy and objectives, within MPFA investment rules |
| Member (you) | Receives fund fact sheets and annual benefit statements; checks accounts, prices and switches funds by phone or internet |
Regular employer and employee contributions buy units that accumulate in the employee’s account; each fund’s strategy and objectives appear in the scheme’s sales documents.
So what does the MPFA do?
Regulate and supervise. The authority ensures trustees and providers obey MPF law: vetting trustees’ periodic reports, inspecting operations on site, demanding improvement plans from findings — and punishing breaches appropriately.
In short: trustees manage your money; the MPFA watches the trustees.
MPFA hotline: 2918 0102 www.mpfa.org.hk
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