MPFA explains relevant MPF information in leaflets

The MPFA has published three MPF leaflets to explain important details in relevant MPF documents. It includes the Fund Fact Sheet and Annual Benefit Statement. 

As set out in the Code on Disclosure for MPF Investment Funds, trustees are required to issue at least two Fund Fact Sheets to their members for each financial year of a scheme. In this connection, the Mandatory Provident Fund Schemes Authority or MPFA has published a leaflet explaining the information on the Fund Fact Sheet, including investment objectives, portfolio allocation, top 10 portfolio holdings, fund risk indicator, and so on. This information can help scheme members better understand the features and risk level of a fund when choosing a suitable MPF fund.

Scheme members should review the fund choices, contributions and investments in their MPF accounts regularly by referring to their Annual Benefit Statement. The Code on Disclosure for MPF Investment Funds requires that trustees issue at least one Annual Benefit Statement to their members every year. In the leaflet, the MPFA explains the information in the Annual Benefit Statement in detail: for example, the income and expenditure for the MPF account, account balance, benefits accrued and the extent to which they are vested, and the gains and losses associated with the account.

Further, if scheme members want to get a basic understanding of the fees and charges levied by different MPF funds, they can refer to the Summary of Fee Comparative Platform. The leaflet gives summary statistics of the fees and charges of MPF funds, explains the Fund Expense Ratio concept and reminds members of points to note when interpreting FERs.