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The MPFA today (7 September) released the June 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 June 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 June 2022 issue of the Statistical Digest quarterly report are as follows:

• As at the end of June 2022, total MPF assets amounted to around $1.06 trillion. Over $249 billion of the total MPF assets was investment returns, net of fees and charges. Total MPF assets have increased by 175% over the past 10 years. The annualized net rate of return was 2.8% since the inception of the MPF System in 2000, higher than the annualised inflation rate of 1.8% over the same period.
• In the second quarter of 2022, total MPF contributions amounted to $20.79 billion, of which $15.95 billion (77%) was mandatory contributions and $4.84 billion (23%) was voluntary contributions.
• As at the end of June 2022, about 2.74 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 around 26% of the total number of 10.70 million MPF accounts at the time. The total assets invested amounted to about $78.7 billion, accounting for 7% of total MPF assets.
• In the second quarter of 2022, the total number of claims for MPF on various grounds (such as retirement) was 52,700, an increase of 12% from the previous quarter. The number of claims for MPF on the grounds of permanent departure (PD) from Hong Kong in the second quarter of 2022 was 8,600, an increase of 14% from the previous quarter but was lower than the fourth quarter of 2021 (8,700 claims) and the third quarter of 2021 (9,300 claims); as reflected from the data in the past four quarters, the number of PD claims fluctuated from time to time. 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 would be less than the number of claims. In addition, PD claimants may not be emigrants as such claimants also include those returning to their places of origin (e.g. non-local employees who have completed their employment in Hong Kong) or moving to reside in the Mainland.

In respect of the impact of market volatilities on the investment performance of MPF funds, an MPFA spokesperson said that MPF is a long-term retirement investment, which spans across the entire working life of scheme members. During the period, the investment performance of MPF funds will inevitably be subject to different degrees of market fluctuations. Scheme members should not be overly concerned about the short-term volatilities. They should instead regularly review their MPF investment to ensure that their investment portfolios (i.e. fund choices) align with their personal circumstances (e.g. life stages, risk tolerance level).

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7 September 2022