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- MPFA releases the March 2024 Issue of the Mandatory Provident Fund Schemes Statistical Digest quarterly report
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MPFA releases the March 2024 Issue of the Mandatory Provident Fund Schemes Statistical Digest quarterly report
The MPFA today (24 June) released the March 2024 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 2024, 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 March 2024 issue of the Statistical Digest are as follows:
- As at the end of March 2024, total MPF assets amounted to $1,180 billion, increasing by 129% 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 total MPF assets, registered on average an annualized net return of 3.8%, exceeding the annualized inflation rate of 1.8% for the same period. The cumulative net returns of MPF equity funds and mixed assets funds were 138% and 136% respectively.
- As at the end of March 2024, there were 3.31 million MPF accounts investing in the constituent funds under the default investment strategy (DIS), accounting for 30% of the total number of 11.10 million MPF accounts at the time. The total assets invested amounted to $117.76 billion, accounting for 10% of total MPF assets.
- As at the end of March 2024, the average annualized net returns since the launch of the DIS on 1 April 2017 for the Core Accumulation Fund (CAF) and Age 65 Plus Fund (A65F) were 6.0% and 2.0% respectively. The cumulative net returns of CAF and A65F were 50.2% and 14.6% respectively.
- As at 31 March 2024, the number of TVC accounts was 76 000, reflecting a year-on-year growth of 10%. The cumulative amount of tax-deductible voluntary contributions (TVC) received since its inception was $10.51 billion.
- In the first quarter of 2024, the total MPF contributions amounted to $22.89 billion, an increase of 7% from the previous quarter. Of the total, $17.11 billion (75%) was mandatory contributions and $5.78 billion (25%) was voluntary contributions. The benefits paid amounted to $9.79 billion, a decrease of 2% from the previous quarter.
－Ends－
24 June 2024
