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  • 2 Post By shri
  • 2 Post By shri

Highway robbery: MPF Funds that pocket 90c of every dollar

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  1. #1

    Join Date
    Oct 2006
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    Highway robbery: MPF Funds that pocket 90c of every dollar

    https://www.hongkongfp.com/2016/02/2...-every-dollar/

    Kind of brings me neatly to something I have been meaning to ask for a while. Previous employer had a contributory pension scheme invested via Manulife MPF. Yes, I know not the best, but I put in 5% and they matched that 5%. Its all vested with me now (this was on top of the statutory minimum requirements).

    New employer doesn't offer this scheme, just the statutory minimum requirement. Where do I start to look at where to build up my pension? I guess I now have an option NOT to invest in MPF, but where else?

  2. #2

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    Very very misleading headline .. but good click bait.

    greenmark and jack55 like this.

  3. #3

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    I have a preserved MPF account with HSBC and 100% of it is linked to Hang Seng Index Tracking Fund HSIF which has taken a 30K$ hit in the past 6 months, should I be worried about it LOL


  4. #4

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    Quote Originally Posted by shri:
    Very very misleading headline .. but good click bait.
    Yes, but don't tell me the MPF providers are not making money hand over fist, but doing as little as possible but charging crazy amount of fees (even as little as possible then lawyers).

  5. #5

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    Quote Originally Posted by wtbhotia:
    I have a preserved MPF account with HSBC and 100% of it is linked to Hang Seng Index Tracking Fund HSIF which has taken a 30K$ hit in the past 6 months, should I be worried about it LOL
    Seems my legacy MPF has taken something like a 100k hit. Glad to see my MPF fees are being put to good use.

  6. #6

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    And then I know most professional service firms in HK where you have to pay irrespective of the outcomes.... And many of them have huge overheads

    Same applies for any service. There are fees and they are usually a significant percentage over the actual cost. Even the government charges more taxes than it spends.

    Just saying....

    There are far more deeper problems with the e
    MPF.

    HK_Katherine and TheBrit like this.

  7. #7

    Join Date
    Jan 2013
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    Quote Originally Posted by shri:
    Very very misleading headline .. but good click bait.
    Yeah that's more creative than those "You won't believe what she did after finding out her husband was cheating..." click baits but just as bad. It's one of the worst headlines I've ever seen.