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Learn about managing MPF investment through a new TV drama series

The Mandatory Provident Fund Schemes Authority (MPFA) will soon launch a new TV drama series starring popular artiste Bob Lam. The purpose of the drama series, in which Bob alone plays five different characters, is to educate the public on how to properly manage their Mandatory Provident Fund (MPF) in different life stages or situations.

The five-episode series, in which each episode lasts two minutes, will be telecast on TVB-Jade and HD Jade at 8:00 pm, from tomorrow to Friday (24 to 28 February).
 
The key messages in each episode are as follows:
 
First episode (24 February)
Bob’s character : 23-year-old, newly-recruited magazine reporter
Messages :       The MPF should be only part of an individual’s retirement savings. Trustees will allocate employees’ MPF contributions to the default fund prescribed in their MPF scheme if they do not clearly state their fund choices. The default fund may not suit the needs of every employee.
 
Second episode (25 February)
Bob’s character : 34-year-old, newly married café owner-to-be
Messages :       Employees should choose MPF funds based on their individual needs and risk tolerance level, and review their MPF investments regularly and make adjustments if appropriate.
  
Third episode (26 February)
Bob’s character : 30-year-old insurance agent heading a sales team
Messages :       It is important for one to properly manage his MPF to have better retirement protection. The MPF snowballs through the compounding effect. The Annual Benefits Statement provides a summary of the investment status of individual MPF accounts.
 
Fourth episode (27 February)
Bob’s character : 50-year-old cleaning worker
Messages :    Employees who have changed jobs may hold more than one MPF personal account and they are advised to consolidate their accounts into one for easier management. The Employee Choice Arrangement gives employees greater control over their MPF.
 
Fifth episode (28 February)
Bob’s character : Pop star, plus the four characters from the previous episodes
Messages :    The MPF is a long-term investment that benefits from dollar-cost averaging, which helps even out short-term market volatility. Transferring contributions from one MPF scheme to another involves trading of funds, which will result in an out-of-market period of about one week when there is a chance of “selling low, buying high”.
 
- Ends -
 
23 February 2014
 
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