Group 1 - The average net return of the Mandatory Provident Fund (MPF) in Hong Kong for this year is reported to be 16% [1] - The MPF has been established for 25 years, with 17 years recording net returns, and an annualized net return rate of 4% [1] - The average net returns for stock funds, mixed asset funds, and bond funds this year are 25%, 16.3%, and 5.6% respectively [1] Group 2 - The chairman of the MPF Authority, Liu Mai Jiaxuan, announced that the fees for the MPF Easy platform will be further reduced in the fiscal year 2026/27, with administrative fees expected to drop below 30 basis points [1] - Currently, 11 trustees have joined the MPF Easy platform, with HSBC expected to join by the end of the month [1] - Since the implementation of the MPF system in December 2000, the annualized average net return over 25 years has been 4%, significantly outperforming the annualized inflation rate of 1.8% during the same period [1]

Group 1 - The total assets of the Mandatory Provident Fund (MPF) in Hong Kong have reached HKD 1.5 trillion, marking a significant milestone as it is the first time the total assets have surpassed this amount [1] - The net investment return rate from the beginning of 2025 to the present is approximately 15% [1] - The retirement protection coverage rate in Hong Kong has approached nearly 100% since the implementation of the MPF system, which previously covered only about one-third of the working population [2] Group 2 - As of October 2023, various fund types under the MPF have recorded positive annualized investment performance, with stock funds and mixed asset funds achieving average cumulative net returns of 240.5% and 201.3%, respectively [4] - The average annualized net return for stock funds is 5.0%, while mixed asset funds have an average of 4.5%, both outperforming the 1.8% annualized inflation rate during the same period [2][4] - The proportion of voluntary contributions to the total MPF contributions has increased to 25% in the first three quarters of this year, nearly doubling compared to the same period a decade ago [5] Group 3 - The Default Investment Strategy (DIS), introduced in 2017, has achieved an average annualized net return of 6.9%, significantly exceeding the inflation rate [6] - The introduction of the "MPF Easy" platform has streamlined and digitized the administrative processes of the MPF, allowing participants to manage their funds more conveniently [8] - The administrative fees for MPF plans that join the "MPF Easy" platform are capped at 0.37%, benefiting over 10 million member accounts, which accounts for more than 90% of the total member accounts [8]

Core Insights - The total assets of the Mandatory Provident Fund (MPF) in Hong Kong have surpassed HKD 1.5 trillion, reaching a temporary figure of HKD 1.53 trillion as of September 2025, marking a significant milestone for the MPF system [1] - The increase in total assets this year includes over HKD 200 billion attributed to net investment returns, indicating strong performance in the accumulation of retirement savings [1] - The average net returns for stock funds and mixed asset funds over the past 12 months were 18.8% and 10.6%, respectively, with long-term annualized net returns since the MPF's inception at 5.1% and 4.5% [1] Investment Strategy Performance - The Default Investment Strategy (DIS), known as the "lazy fund," has shown an average net return of 9.8% over the past 12 months and an annualized net return of 6.8% since its launch in 2017 [2] - Both the DIS and other fund types have outperformed the annualized inflation rate of 1.8% since the implementation of the MPF system and the introduction of DIS [2]

Group 1 - The Hong Kong government is cautious about allowing citizens to withdraw Mandatory Provident Fund (MPF) contributions for first-time home purchases, as it may undermine the integrity of the MPF system and its purpose of providing retirement savings [1][2] - The MPF is designed as a long-term investment to accumulate value over a member's working life, and early withdrawals could lead to a loss of accumulated benefits [1][2] - The Financial Secretary emphasizes the need for careful evaluation of the impact on retirement savings if members are allowed to withdraw MPF contributions for property purchases [2] Group 2 - The current mandatory contribution rate for MPF in Hong Kong is relatively low compared to other countries, and relaxing withdrawal requirements may hinder the MPF's ability to provide basic retirement protection [2] - Real estate investment carries higher risks than MPF fund investments, and using MPF for property purchases could diminish the advantage of risk diversification within the MPF system [2] - The demand for the Elderly Mortgage Scheme has increased since its launch in 2011, with over 8,200 applications approved as of April this year, and the number of approvals in 2024 has risen by approximately 30% year-on-year [2]