Info Center

The MPFA today (5 March) released the December 2023 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 December 2023, including scheme member enrolment, number of accounts, total MPF assets and investment performance.

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

Key findings in the December 2023 issue of the Statistical Digest are as follows:

• As at the end of December 2023, total MPF assets amounted to $1,140 billion, increasing by 122% over the past 10 years.

• Since the inception of the MPF System in 2000, both MPF equity funds and mixed assets funds, which accounted for nearly 80% of the total net asset value of the MPF System, registered on average an annualized net rate of return of 3.7%, exceeding the annualized inflation rate of 1.8% for the same period. The cumulative net rates of return of MPF equity funds and mixed assets funds were 131% and 130% respectively.

• As at the end of December 2023, there were 3.26 million MPF accounts investing in the constituent funds under the default investment strategy (DIS), accounting for 30% of the total number of 11.06 million MPF accounts at the time. The total assets invested amounted to $109.4 billion, accounting for 10% of total MPF assets.

• Since the launch of the DIS on 1 April 2017 to the end of December 2023, both the Core Accumulation Fund (CAF) and Age 65 Plus Fund (A65F) under the DIS recorded an average annualized net return of 5.5% and 1.9% respectively.  The cumulative net rates of return of CAF and A65F were 43.4% and 13.4% respectively.

• Total MPF contributions amounted to $21.35 billion in the fourth quarter of 2023, of which $16.48 billion (77%) was mandatory contributions and $4.87 billion (23%) was voluntary contributions.

• In the fourth quarter of 2023, the total number of claims for MPF on various grounds (such as retirement) was 66 000, a decrease of 4% from the previous quarter. The number of claims for MPF on the grounds of permanent departure from Hong Kong in the fourth quarter of 2023 was 7 200, representing a quarter-on-quarter decrease of 17%.

• As at 31 December 2023, the number of TVC accounts was 72 000, reflecting a year-on-year growth of 11%. The cumulative amount of tax-deductible voluntary contributions (TVC) received since its inception was $9.5 billion.

• The MPFA spokesperson reminded that scheme members who make MPF tax-deductible voluntary contributions before the end of March 2024 would enjoy tax deductions for salaries tax or personal assessment in the assessment year of 2023/24.

－Ends－
5 March 2024