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Mpf providers

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  1. #11

    Join Date
    Jul 2018
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    I know most people consider MPF (and it's fees) a joke, but if my company adds 50% to my voluntary contributions, I should max this out, am I correct?


  2. #12

    Join Date
    Nov 2005
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    Original Post Deleted
    see how much the funds charge. if they are retail class funds that charges up to 2%, then likelihood there is a rebate structure of 0.75~1% back to the distributor of the fund. If its institutional class funds then there are nothing kicked back.

    I see the statement says 'no account level fees' but they did not say they don't make money out of your fund ownership. 8-)

  3. #13

    Join Date
    Aug 2009
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    2,711
    Original Post Deleted
    I studied it and the truth is that you get equally ripped off everywhere. There is literally no way out.

    So as a result I chose to stay with hsbc for convenience sake, ie internet access to mpf within my online banking, and then chose the same low cost funds as I had chosen before.

    The only alternative I was thinking is to resign from HK, take the money out and reestablish residence. Bit of a hassle though and I think I don't have enough time for that between jobs

  4. #14

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    Original Post Deleted
    at this juncture, my mpf account is pretty much tied to what my company wants me to do. so wait till the amount is significant and when i get a choice then i might do something. otherwise just leave it around i guess.

  5. #15

    Join Date
    Dec 2002
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    @Deleted - I'm with BCT. No clue about individuals acct opening.

    BCT Group comprises BCT Financial Limited (“BCTF”) and Bank Consortium Trust Company Limited (“BCTC”), which are wholly owned subsidiaries of Bank Consortium Holding Limited. Bank Consortium Holding Limited was founded in 1999 by a group of renowned banks in Hong Kong. The shareholder group currently comprises 8 reputable financial institutions with long history of serving the public, namely Asia Financial, Chong Hing Bank, Dah Sing Bank, Fubon Bank, ICBC (Asia), OCBC Wing Hang, Shanghai Commercial Bank and Wing Lung Bank, with an extensive network of more than 310 branches in Hong Kong. As at 31 December 2017, the total assets and total equities of BCT’s shareholder group exceeded HK$2,196 billion and HK$251 billion respectively.
    https://www.bcthk.com/en/

  6. #16

    Join Date
    Oct 2006
    Location
    Hong Kong
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    15,557

    I have looked into trying to find a cheaper MPF provider, but have found them to be much of the sameness in reality.

    My previous company was with Manulife and on top of the statutory minimum they matched 4% contributions. The result was I am now sitting with a low seven figure amount in my Manulife account. My new employer is also with Manulife, so everything shows on the same login (although with the old employer the plan is now called my personal account with no new contributions being made).

    For both old and existing MPF everything is set to the DIS (Default Investment Strategy) which has the lowest fees of something like 0.75%. These fees should be lower, but the MPFA have set the fees at 0.75% at the very least and no provider is offering to go lower. Yes Manulife and others have lowered their fees to other funds, but they all still remain around the 1%+ mark which remains complete robbery for what they do.

    I understand the Manulife DIS fund is managed by Vanguard (as opposed to by Manulife). Trying to get information on the funds invested in the DIS is pretty much impossible (however if anyone can find the information, that would be great), I am hoping as its managed by Vanguard, at least they are being invested into Vanguard funds.


  7. #17

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    Original Post Deleted
    Sorry, referring to management fees (which are all pretty damn high across the board). Please find me an mpf provider that offers funds where the management fee is lower than 0.75% that is open to the public.

  8. #18

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    Oct 2006
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    Original Post Deleted
    Scroll down. The fees are shown.

  9. #19

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    Oct 2006
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    Original Post Deleted
    Its a fcuking joke really. The tracker fund management fees are 0.09%. All Fidelity does is buy 2800.HK shares and makes 0.61% profit.

    Pure legislated robbery.
    drumbrake likes this.

  10. #20

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    Oct 2006
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    Original Post Deleted
    Not 0.61% profit, that's for sure!!