Lost in MPF

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  1. #1

    Join Date
    Jul 2009
    Posts
    164

    Question Lost in MPF

    First time workin in HK and not sure how all this MPF works...

    Do I go high or go low for investment?

    Tips anyone?

    Cheers


  2. #2

    Join Date
    Mar 2007
    Location
    Gold Coast Marina
    Posts
    17,970

    The amount you are forced to invest is tiny and useless for a pension if you are an expat. Play safe (ie low risk investment) and then withdraw it when you leave. You unlikely to have the time period necessary to make a sensible long term investment so risky assets are even more risky.


  3. #3

    Join Date
    Jan 2003
    Location
    In the Lair of the Village Idiot's Apprenctice
    Posts
    3,385

    Au contraire
    If you are young and the maximum input of $24,000 [per annum] is a pittance then you should be put everything in the most lucrative fund you can find.
    At the end of your term here you can withdraw everything. I know some people who on having left still maintain their account in case they return.


  4. #4

    Join Date
    Sep 2008
    Posts
    3,683
    Quote Originally Posted by Gal from Aus
    First time workin in HK and not sure how all this MPF works...

    Do I go high or go low for investment?

    Tips anyone?

    Cheers
    What funds are being offered? HSBC or something else?

  5. #5

    Join Date
    Jun 2005
    Posts
    265

    And BTW, expats are exempt from participating in MPF for the first 12 months


  6. #6

    Join Date
    Jul 2009
    Posts
    164

    The fund is Manulife...I think I might play low....


  7. #7

    Join Date
    Sep 2008
    Posts
    3,683
    Quote Originally Posted by rapid_jap
    And BTW, expats are exempt from participating in MPF for the first 12 months
    That does not apply in general, only if you are not permitted to stay in HK for more than 13 months.

    Expats can request an exemption however if they are investing in an overseas pension scheme, see also here: Exemptions under the MPF System