MPF and Young People

When you leave school and join the workforce, you will have your own Mandatory Provident Fund (MPF) scheme, so it's time you learn more about the MPF!

All MPF schemes are managed by private institutions (approved trustees) and are supervised by the MPFA. Your employer has the responsibility of choosing the trustee and the MPF schemes under its management, as well as arranging you to join the scheme. Both you and your employer have to make regular contributions, which will be collected by the trustee for investing in the MPF funds of your choice. The money contributed and invested will be for your use in retirement after you have reached the age of 65.

Joining the MPF

If you have joined the workforce and meet the following criteria, then you need to enrol in an MPF scheme:

• employees and self-employed persons aged 18 to aged below 65 who have worked for 60 days or more (full-time or part-time);
• casual employees aged 18 to aged below 65 working in the construction and catering industries.