Media365
The Hong Kong Mandatory Provident Fund (MPF) achieved record earnings of HK$207 billion (US$26.5 billion) in the first nine months of this year, pushing total assets to the HK$1.5 trillion mark for the first time, according to the pension regulator on Monday.
The performance translated to an average gain of HK$43,225 for each of the 4.8 million MPF members, according to data from MPF Ratings, an independent research firm.
The record figure for the first three quarters of the year was 18 per cent higher than the amount at December 31 last year, and equivalent to HK$319,201 for each MPF member.
“Total MPF assets surpassing the HK$1.5 trillion mark is another significant milestone of the MPF system,” Ayesha Macpherson Lau, chairwoman of the Mandatory Provident Fund Schemes Authority (MPFA), said in a statement on Monday.
“This underscores the ability of MPF to help the working population accumulate steady retirement savings through regular contributions, continuous investments and the compounding effect over time,” she said.
Hong Kong’s 379 MPF investment funds earned a 15.8 per cent return on average during the first nine months, the MPF Ratings data showed.
