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MPF authority chair urges women to boost retirement savings

Ahead of International Women’s Day, Ayesha Macpherson Lau, chairwoman of the Mandatory Provident Fund Schemes Authority, urged women to take a proactive stance on retirement planning. Lau highlighted a gender disparity in retirement savings, noting women hold HKD520bn (USD66.44) in MPF assets, less than the HKD620bn held by men. With women averaging HKD222,000 in MPF assets compared to men’s HKD258,000, she advocated for voluntary contributions to enhance retirement savings. Since introducing tax-deductible voluntary contributions in 2019, these incentives aim to bolster retirement funds. Lau emphasised the potential of accumulating nearly HKD3.14m by contributing HKD1,500 monthly from age 22 to retirement at 65, with a 5.5% return rate.


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