Talent & Tech Asia Summit 2024
human resources online

2018 Hong Kong Top 10 MPF providers

閱讀中文版本

In light of the recent termination of the offsetting severance payment and long service payment mechanism announced in Carrie Lam’s second Policy Address, it may be time to review your company’s Mandatory Provident Fund (MPF) provider.

Compiled by Mercer, the MPF Satisfaction Index ranks the MPF providers based on the average satisfaction score from users.

The overall MPF satisfaction index levels remain steady. Despite the seemingly sharp decline between May and June and between July and August, the average satisfaction levels flutter at around 50 out of 100.

Sun Life and Manulife are the only providers whose market share has soared over the past three years.

Billy Wong, Mercer’s health and MPF business leader, suggested it might be due to their growing acquisitions of MPF businesses and the phenomenon that recurrent members actively chose their schemes under the Employee Choice Arrangement.

As a human resources professional, holistically selecting a MPF provider can help employees maximise their retirement fund. Nowadays, many MPF providers find ways to concede to users' needs.

HSBC, Hang Seng, Manulife and AIA all provide add-on customer services, including financial wellness education and e-alerts. Manulife and Fidelity curb their competitors on the MPF scene by providing mobile applications.

ALSO READ At-a-glance: the Hong Kong 2018 Policy Address

Photo/Fidelity

Follow us on Telegram and on Instagram @humanresourcesonline for all the latest HR and manpower news from around the region!

Related topics

Related articles

Free newsletter

Get the daily lowdown on Asia's top Human Resources stories.

We break down the big and messy topics of the day so you're updated on the most important developments in Asia's Human Resources development – for free.

subscribe now open in new window