Manulife Announces MPF Management Fees Reduction and Benefits Enhancement for over Two Million Members¹
New fees effective 6 February 2026 tie in with new “Manulife Privilege Rates Plus” program for Personal Accounts and Tax Deductible Voluntary Contributions Accounts
For Immediate Release
Hong Kong – Manulife today announced a reduction in management fees for all of its 29 constituent funds under the Manulife Global Select (MPF) Scheme (the “Scheme”), effective on 6 February 2026, following the Scheme’s onboarding to the eMPF Platform in November 2025. Over two million Manulife MPF members1 will benefit from the management fee reductions by a range of 9% to 22% across 29 MPF constituent funds2.
As part of initiatives in giving back to customers and enhancing pension contributions through retirement education, Manulife has upgraded its over-a-decade-long Privileged Rates program3 with two tiers of substantial incentives to help the public save for retirement. Under the new “Manulife Privileged Rates Plus” program, customers who enroll in a Manulife MPF personal account (“PA”) and tax deductible voluntary contributions (“TVC”) account from November 6, 2025 onwards will enjoy privileged rates on management fees based on their total relationship balance and can unlock extra bonus rebates based on loyalty years with Manulife MPF4. Customers with contribution accounts only will continue to enjoy their current benefits according to employer’s existing fee rates5.
Jeanie Ho, Head of Retirement, Hong Kong and Macau at Manulife, said: “As a guardian of retirement savings for more than a quarter of Hong Kong’s population6, we place great importance on expressing our appreciation to members in ways that genuinely make a difference. Our latest reduction in overall management fees for funds within the Scheme is a meaningful way for us to give back and show gratitude to our members for their long-standing trust and support. By lowering fees, not only do we share the benefits of our scale with members, but we also contribute to a more cost‑efficient environment that supports them in enhancing their retirement reserves. We remain dedicated to helping members make the most of their MPF contributions and move confidently toward the retirement lifestyle they aspire to.”
Manulife continues to lead as a steadfast trailblazer in the industry, offering long-standing privileged rates across major fund categories – equity, bond, mixed assets and guaranteed funds.
For the first-tier privilege based on total MPF assets, up to 13 constituent funds offer management fee discounts applicable to aggregated MPF assets starting from HK$50,000. The second-tier privilege based on loyalty years with Manulife MPF covers up to 26 constituent funds and provides extra bonus rebates for long-term members who remain with Manulife MPF.
Jeanie Ho added: “Being number one in the MPF market7, Manulife plays a pivotal role in shaping a culture of proactive retirement management among Hong Kong’s working population. As technology and digitalization continue to advance at pace, we are encouraging members to stay digitally connected through simple and engaging missions that help them stay informed and actively manage their MPF.”
“As part of the long-term goal of achieving full portability in the MPF industry, we will continue to deliver value‑added services through our MPF intermediaries—supporting members with relevant tools, insights, and guidance. Looking ahead, we will strategically introduce new offerings, incentives, and benefits to help members progress confidently toward the retirement lifestyle they desire.”
For more details about the “Manulife Privileged Rates Plus” program, please visit here.
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1 Source: Manulife internal data as of 31 December 2025
2 For details please refer to MPF scheme brochure for Manulife Global Select (MPF) Scheme available on our website (https://www.manulife.com.hk/content/dam/insurance/hk/en/documents/products/mpf/scheme-brochure.pdf). The percentage reduction is calculated by comparing the current fee with the fee applicable on and after 6 February 2026, expressed as a percentage of the latter, i.e. Reduction (%) = (Current Fee – Fee applicable on and after 6 February 2026) ÷ Current Fee.
3 Launched in 2012, the Privileged Rates program offers special management fee discounts on selected constituent funds through bonus unit rebates. Eligibility is based on both members’ aggregated MPF assets and their years of Manulife MPF relationship (terms and conditions apply).
4 For members who hold Manulife PA and/or Manulife TVC Account before 6 November 2025 (the Program Launch Date), there will be a transitional arrangement during Year 1 of this Program (6 November 2025 to 31 December 2026). Please refer to the announcement and FAQ on Manulife’s customer website for details.
5 All employer’s existing fee rates are subject to applicable terms and requirements and may vary among different employers.
6 Calculated based on Manulife internal data as at 30 June 2025 and the provisional Hong Kong population figure of 7.5M at mid-year 2025 published by the Census and Statistics Department of HKSAR on 14 August 2025. Source: Census and Statistics Department; https://www.censtatd.gov.hk/en/press_release_detail.html?id=5614.
7 As of 31 December 2025, Manulife (International) Limited was the No.1 MPF service provider in Hong Kong in terms of market share of total MPF assets by MPF scheme provider. Source: “Mercer MPF Market Shares Report” as of 31 December 2025, by Mercer (Hong Kong) Limited.
About Manulife Hong Kong
Manulife Hong Kong has been a trusted name for more than 125 years, while we have served the Macau market for nearly three decades. Since our operations began in Asia in 1897, we have grown into one of the top-tier providers of financial services, offering a diverse range of protection and wealth products and services to over 2.6 million customers in Hong Kong and Macau. We are committed to helping make decisions easier and lives better for our customers. Manulife Hong Kong and Macau, through Manulife International Holdings Limited, owns Manulife (International) Limited, Manulife Investment Management (Hong Kong) Limited, and Manulife Provident Funds Trust Company Limited. These entities are all subsidiaries of Manulife Financial Corporation.
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As part of Manulife Financial Corporation, Manulife Wealth & Asset Management’s mission is to make decisions easier and lives better by helping people invest confidently to pursue a more secure financial future. Our strength comes from the diversity of our global asset management expertise and distribution capabilities. Our global investment teams span equities, fixed income, alternative credit, private markets, and multi-asset solutions. We provide investment, financial advice, and retirement plan services to millions of individuals, institutions, and retirement plan members worldwide. At the heart of our approach are three cultural pillars: Partner for Progress, Trust through Transparency, and Intellectual Curiosity. These values shape how we build long-term relationships, develop differentiated investment strategies, and empower advisors and clients to seek meaningful financial outcomes. Whether through cutting-edge technology, AI innovation, personalized advice, or sustainable stewardship, Manulife Wealth & Asset Management is a trusted partner helping clients navigate complexity and invest with confidence. Not all offerings are available in all jurisdictions. For additional information, please visit manulifeim.com.
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Manulife Financial Corporation is a leading international financial services provider, helping our customers make their decisions easier and lives better. With our global headquarters in Toronto, Canada, we operate as Manulife across Canada, Asia, and Europe, and primarily as John Hancock in the United States, providing financial advice and insurance for individuals, groups and businesses. Through Manulife Wealth & Asset Management, we offer global investment, financial advice, and retirement plan services to individuals, institutions, and retirement plan members worldwide. At the end of 2024, we had more than 37,000 employees, over 109,000 agents, and thousands of distribution partners, serving over 36 million customers. We trade as ‘MFC’ on the Toronto, New York, and the Philippine stock exchanges, and under ‘945’ in Hong Kong. Not all offerings are available in all jurisdictions. For additional information, please visit manulife.com.
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