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The MPFA today (2 June) released the March 2022 issue of the Mandatory Provident Fund Schemes Statistical Digest (Statistical Digest), a quarterly report which covers key statistical data of the MPF System up to the end of March 2022, including scheme member enrolment, number of accounts, total MPF assets and investment performance.

The Statistical Digest quarterly report aims to enhance the information transparency of the MPF by showing the general situation and progress of the MPF System in different areas.

The key findings in the March 2022 issue of the Statistical Digest quarterly report are as follows:

• As at the end of March 2022, total MPF assets amounted to around $1.12 trillion. Over $326 billion of the total MPF assets was investment returns, net of fees and charges. Total MPF assets have increased by 187% over the past 10 years. The annualized net rate of return was 3.6% since the inception of the MPF System in 2000, higher than the annualized inflation rate of 1.8% over the same period.
• Total MPF contributions amounted to $21.66 billion in the first quarter of 2022, of which $16.23 billion (75%) was mandatory contributions and $5.43 billion (25%) was voluntary contributions. In financial year 2021-22, the total amount of tax-deductible voluntary contributions (TVC) amounted to $2.51 billion, an increase of 13% from $2.21 billion in financial year 2020-21. The number of TVC accounts also rose by around 17% from 53,000 as at the end of March 2021 to 62,000 as at the end of March 2022, reflecting an increase in popularity of TVC among scheme members.
• As at the end of March 2022, about 2.67 million MPF accounts had invested all or part of their assets according to the default investment strategy (DIS) or in the two constituent funds under the DIS, accounting for 25% of the total number of 10.55 million MPF accounts at the time. The total assets invested amounted to about $84.9 billion, accounting for 8% of total MPF assets.
• In the first quarter of 2022, the total number of claims for MPF on various grounds (including retirement and early retirement) was 47,000, a decrease of 23% from the previous quarter. The number of claims for MPF on the grounds of permanent departure from Hong Kong in the first quarter of 2022 was 7,500, representing a quarter-on-quarter decrease of 14%. Since a scheme member may have more than one account under the MPF System and would make individual claims with the relevant trustees to withdraw his/her MPF from these accounts, the number of claimants involved is less than the number of claims.

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2 June 2022