MPF Ratings issues ranking for MPF schemes

06 March 2013   Category: Asia, Hong Kong   By Toby Garrod

MPF Ratings announced on Tuesday (March 5) its inaugural and Hong Kong’s first ever independent assessment of the Mandatory Provident Fund (MPF) schemes, providing contributors to the fund with an easy to digest, research-based evaluation of the available offerings and encouraging greater levels of transparency from the 20 or so registered providers.

Categories were split between ‘Gold’, ‘Silver’ and ‘Bronze’ awards across a multitude of criteria – value for money being the pivotal factor.

MPF Ratings is holding the landmark awards ceremony in conjunction with Asia Asset Management. The awards and ceremony will be officially named “The MPF Awards” in recognition of the progress that the MPF has made since its launch in 2000.

MPF Ratings CEO Francis Chung said that following the introduction of semi-portability through Employee Choice Arrangements late last year, today’s announcement provided a watershed moment for the ongoing development of the MPF industry.

“While public access to information on MPF schemes may be readily available in the market place, until today, there has been no single measure of relative strength” Mr. Chung said.

“With a clear focus on value for money, we are committed to bringing transparency and scrutiny to the Hong Kong retirement market. Our objective is to provide publically independent views and opinions, to enable scheme members to make better informed decisions.”

Before announcing its ratings, Mr. Chung took the opportunity to thank the MPF Authority as well as scheme providers and administrators for their support and assistance. “Our engagement with the market place demonstrated a general willingness to be scrutinized. Schemes that allowed MPF Ratings to verify the quality of services they provided demonstrated a level of transparency, and for that they should be applauded”.

Scheme Ratings

Gold Rating: Gold rated schemes offer the best value. These schemes are generally well balanced across all key assessment criteria.

  • Allianz Global Investors MPF Plan
  • BCOM Joyful Retirement MPF Scheme
  • BCT (MPF) Pro Choice
  • Fidelity Retirement Master Trust
  • Invesco Strategic MPF Scheme
  • My Choice Mandatory Provident Fund Scheme (BOC-Prudential)
  • Principal MPF Scheme Series 600
  • Principal MPF Scheme Series 800
  • Schroder MPF Master Trust

Silver Rating: Silver rated schemes offer good value for money MPF schemes. These schemes generally perform above average to strong in nearly all assessment areas.

  • BCT (MPF) Industry Choice
  • BOC-Prudential Easy-Choice Mandatory Provident Fund Scheme
  • China Life MPF Master Trust Scheme
  • Hang Seng Mandatory Provident Fund – SuperTrust
  • Hang Seng Mandatory Provident Fund – SuperTrust Plus
  • HSBC Mandatory Provident Fund – SuperTrust
  • HSBC Mandatory Provident Fund - SuperTrust Plus
  • ING MPF Master Trust Basic Scheme
  • ING MPF Master Trust Comprehensive scheme
  • Principal MPF Scheme Series 500
  • Sun Life Rainbow MPF Scheme

Bronze Rating: Bronze rated schemes generally display average features and/or performance across a number of our ratings criteria.

  • AIA MPF - Basic Value Choice
  • AIA MPF - Prime Value Choice
  • AIA MPF - Simple Value Choice
  • AMTD MPF Scheme
  • AXA MPF - Simple Plan
  • AXA MPF - Smart Plan
  • BEA (MPF) Industry Scheme
  • BEA (MPF) Master Trust Scheme
  • BEA (MPF) Value Scheme
  • Hang Seng Mandatory Provident Fund – ValueChoice
  • HSBC Mandatory Provident Fund – ValueChoice
  • Manulife Global Select (MPF) Scheme
  • Manu-Lifestyle (MPF) Scheme
  • Mass Mandatory Provident Fund Scheme
  • Standard Chartered MPF Plan – Advanced
  • Standard Chartered MPF Plan – Basic