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Preparing for retirement requires detailed planning. Proper management of your Mandatory Provident Fund (MPF) investment is an indispensible part of retirement planning. The Mandatory Provident Fund Schemes Authority (MPFA) organized a course for members of Friends of MPF on the last three consecutive Saturdays, with academics and an investment expert giving tips on MPF investment, and demonstrations of useful tools available on the MPFA website.
 
The Friends of MPF programme, launched in 2010, aims to facilitate two-way communication between the MPFA and scheme members to deepen the latter’s knowledge of the MPF. The MPFA regularly organizes activities for Friends of MPF. This year, a course was specially organized for them, with the last session held today (29 March).
 
Speaking to the participants today, MPFA Chief Corporate Affairs Officer Cheng Yan-chee reminded them to not just properly manage their MPF investments, but also have good saving plans. He said he hoped they would find the course helpful in managing their MPF and other retirement investments.
 
The course started with Dr Billy Mak, Associate Professor in the Department of Finance & Decision Sciences of Hong Kong Baptist University, talking about how to select an MPF scheme and MPF funds that suited one’s individual needs. He reminded participants that the MPF was a long-term investment and that they should aim for a stable return.
 
Scheme members usually compare fees when selecting MPF funds. Another speaker, Simon Lee, Senior Lecturer (Accounting and Finance) at The Chinese University of Hong Kong, explained the various types of MPF fund fees, what the Fund Expense Ratio and On-going Cost Illustration meant, and how fund fees would affect the amount of MPF benefits accumulated over the long term.
 
Understanding market trends helps members plan for their retirement. On the last day of the course, Arthur Shek, Associate Publisher and Head of Research at the Hong Kong Economic Times, shared his views on the investment market outlook for 2014. He urged scheme members to do their homework before making investment decisions.
 
In addition, the course featured demonstrations in which MPFA External Affairs Manager Lei Chioc-san showed the participants how to use a number of useful tools on the MPFA website, including the MPF Calculators, Trustee Service Comparative Platform, Fee Comparative Platform and Low Fee Fund List. Participants were given the opportunity to try them with computers provided on site.
 
The Friends of MPF programme is open to all MPF scheme members and now has more than 30,000 members. In addition to organizing activities for them, the MPFA provides them with regular updates and information on the MPF. Those who would like to become a member simply have to send to the MPFA their contact information (name, mailing address and/or email address) (1) by email to friends@mpfa.org.hk; (2) by fax (2259 8807); or (3) by post (Level 8, Tower 1, Kowloon Commerce Centre, 51 Kwai Cheong Road, Kwai Chung) with “Friends of MPF” specified on the envelope.