The MPFA is a statutory body, established and empowered under the Mandatory Provident Fund Schemes Ordinance (MPFSO) to regulate and supervise the operations of MPF schemes. This mandatory, employment-based and privately managed system has been in operation since December 2000.

The structure of the MPFA consists of a Management Board, which is advised by two statutory committees, the MPF Schemes Advisory Committee and the MPF Industry Schemes Committee, which oversee various aspects of the MPF System. As an executive director on the Management Board, the Managing Director is directly responsible for overseeing day-to-day operations of the MPFA. Under the Managing Director, a number of divisions oversee, manage and implement the work of the MPFA in the areas of enforcement, supervision, regulation and policy, external relations and media, corporate services, and risk management.