MPF accumulates record $1.4t in total assets

The total assets of MPF schemes hit a new record high – exceeding HK$1.4 trillion by the end of June – says Mandatory Provident Fund Schemes Authority chairwoman Ayesha Macpherson Lau.

In an online post, Lau wrote that as of end-2024, there were 125,000 MPF accounts with assets exceeding HK$1 million, doubling from 63,000 just five years ago.

Roughly 90 percent of such accounts are held by members aged 40 or above, she added.

Accounts with over HK$2 million reached 27,000 – also nearly twice the figure from five years before.

Lau said the MPF, launched more than 24 years ago, saw total assets hit a record HK$1.4 trillion, more than doubling from HK$620 billion a decade back.

She noted that how much employees can accumulate depends on various factors.

Citing data from accounts that have made continuous contributions since the MPF began in December 2000, she said the average balance from mandatory contributions in these long-term accounts was HK$500,000.

Around 30 percent of these accounts also had voluntary contributions, averaging HK$520,000 each.

STAFF REPORTER