MPFA releases March 2021 Issue of Mandatory Provident Fund Schemes Statistical Digest
The MPFA today (7 June) released the March 2021 issue of Mandatory Provident Fund Schemes Statistical Digest (Statistical Digest) , which covers key statistical data of the MPF System up to the end of March 2021, including scheme member enrolment, number of accounts and investment performance.
The Statistical Digest aims to enhance information transparency of the MPF by showing the situation and progress of the MPF System in different areas.
Key findings in the March 2021 issue of the Statistical Digest are as follows:
- As at the end of March 2021, total MPF assets amounted to $1.17 trillion, 35% higher than that at the end of March 2020, over $420 billion of which was investment returns, net of fees and charges. The annualized return was 4.9% since the inception of the MPF System in 2000, outperforming the inflation rate of 1.8% over the same period. All MPF fund types posted positive annualised returns since the inception of the System.
- In the first quarter of 2021, a total of $21.311 billion in contributions was received. This is the highest level of contribution inflow since the inception of the System. Among these contributions, a total of $1.206 billion was tax-deductible voluntary contributions (TVCs), which was 28% higher than that in the first quarter in 2020. In the 2020-21 financial year (1 April 2020 to 31 March 2021), the total amount of TVCs was $2.214 billion, a rise of 30% or $508 million from that in 2019-20.
- As at the end of March 2021, around 2.46 million MPF accounts invested all or part of their assets according to the default investment strategy (DIS) or in the two constituent funds under the DIS, accounting for 24% of a total of 10.33 million MPF accounts at the time. The total assets invested in the DIS amounted to about $72.2 billion, accounting for 6% of total MPF assets. Over the past year, the Core Accumulation Fund and the Age 65 Plus Fund, the two constituent funds under the DIS, registered investment returns of 30.2% and 8.8% respectively.
- In the first quarter of 2021, the total number of withdrawal claims for MPF was 66,600, an increase of 15% compared to 58,200 in the fourth quarter of 2020. The number of claims for MPF on the grounds of permanent departure from Hong Kong in the first quarter of 2021 dropped by 10% as compared to that in the previous quarter.
7 June 2021