The Mandatory Provident Fund Scheme (referred to as MPF for short) was officially implemented by the Hong Kong Government on June 65438+February 1 2000. Except for a few individuals who are exempted, employees in Hong Kong 18 to 65 years old must join the MPF scheme, and both employers and employees must contribute to set up a fund.

After the implementation of the MPF, the rate of return is not satisfactory, and even it has recorded losses for several years, and it has been questioned that the administrative expenses are high, and financial institutions as intermediaries have become the biggest beneficiaries. The Mandatory Provident Fund Scheme also enables employers to save severance pay and has negative comments on the helplessness of the elderly.