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Hong Kong's MPF remains financially sustainable

MPFA Chairman Ayesha Macpherson Lau has stated that the Mandatory Provident Fund (MPF) has enough accumulated assets to cover all future pension benefits without additional funding from the government. Lau said that the MPF is financially sustainable and will not be a heavy burden on younger generations, despite the ageing population. She added that the MPF system has encouraged voluntary contributions, in addition to mandatory contributions, which has strengthened retirement protection for scheme members. In 2022, about 12,500 employers made voluntary MPF contributions for approximately 21,400 employees aged 65 or above, totaling around HKD353m. In his latest budget speech, Financial Secretary Paul Chan Mo-po proposed an increase in tax deduction for such MPF contributions from 100% to 200%.


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