The Mandatory Provident Fund (“MPF”) system was introduced by the government of the Hong Kong Special Administrative Region (“HKSAR”) in December 2000 to assist in the provision of retirement reserve for the workforce. It is one of the three pillars for old age protection in Hong Kong, complementing a social safety net and private savings and insurance. It provides retirees with retirement reserve to cover their basic financial needs.
With the commencement of the Employee Choice Arrangement on November 1, 2012, employees are allowed to transfer, once per calendar year, accrued benefits derived from their employee mandatory contributions made during current employment from a contribution account under their employer’s chosen scheme to an MPF scheme of their choice.
Warning: Investment involves risks. Please refer to thefor details including risk factors, fees and charges of the scheme.