Hong Kong’s Mandatory Provident Fund assets grew 163% over the last ten years to a fresh record HK$1.55 trillion (US$198.7 billion) in 2025.
Equity and mixed-asset funds, two of the six types of funds in the public retirement scheme, accounted for 80% of the assets.
The equity fund posted an average annualised net return of 5% since the MPF was established 25 years ago, while the mixed asset fund returned 4.5%.
The Mandatory Provident Fund Schemes Authority (MPFA), supervisor of the MPF industry, published the figures in a statement on its website on March 4.
Around 3.66 million MPF accounts, or one-third of the total 11.29 million, had investments in the default investment strategy at the end of last year. These investments totalled HK$168.2 billion, accounting for more than 10% of assets.
Contributions of MPF members who don’t provide investment instructions are automatically channelled into two constituent funds of the default strategy, which kicked off in 2017.
Meanwhile, there were around 91,000 tax-deductible voluntary contribution accounts last year, 14% more than in 2024.
MPF members who make voluntary contributions on top of the percentage of their salaries that is deducted compulsorily receive tax breaks on the added contributions. Total contributions in the accounts stood at HK$14.1 billion last year.
Hong Kong introduced the tax-deductible voluntary contribution accounts in 2019.
