MPFA and its wholly owned subsidiary, eMPF Platform Company Limited (eMPF Company), today (1 September) published their Annual Reports for 2025-26. The reports cover their major work alongside the financial reports for the financial year.

As MPF marked its 25^th anniversary in 2025-26, MPFA and eMPF Company Chairman Mrs Ayesha Macpherson Lau noted in the MPFA Annual Report that the total MPF assets exceeded $1.5 trillion as at the end of March 2026, representing an increase of more than 150% over the past decade. The annual total MPF contributions made in the 2025-26 financial year reached $91.23 billion, exceeding $90 billion for the second consecutive financial year.

In the 2025-26 financial year, voluntary contributions accounted for 26% of total contributions. In addition to voluntary contributions made by employers, scheme members' rising voluntary contributions reflect their growing confidence in MPF.

Mrs Lau said, "These figures not only are testament to the shared commitment of both employers and employees to enhancing retirement protection of the workforce, but also reflect growing public confidence in MPF as a tool for accumulating retirement reserves. As the regulator and overseer of MPF, MPFA takes forward initiatives to help scheme members further grow their retirement reserves with a view to realizing their aspirations for more secure retirement protection."

As the most significant reform of MPF to date, the eMPF^TM Platform (eMPF) entered the final phase of onboarding during the financial year. Following the onboarding of the last MPF scheme in April this year, all 24 MPF schemes had successfully joined the platform, covering more than 280,000 employers and nearly 5 million scheme members. MPFA achieved significant progress in a number of key work areas, including the refinement of MPF investment regulation and the implementation of eMPF fee reduction from 37 to 29 basis points (0.37% to 0.29%) starting on 1 April this year, representing a reduction by half from the average level of MPF administration fees charged by trustees prior to the launch of eMPF. In addition, the Legislative Council approved legislative amendments for the phase one proposal for MPF full portability.

After 25 years of implementing MPF, MPFA has accumulated considerable experience in regulating and supervising a privately managed retirement savings system. In coming December, MPFA will host the Annual General Meeting of the International Organisation of Pension Supervisors (IOPS) in Hong Kong and will jointly organize the global forum on private pensions with the Organisation for Economic Co-operation and Development and IOPS. This will provide a unique opportunity to showcase the strengths of Hong Kong as an international financial centre, a vibrant city, and a platform for fostering international exchange and co-operation, as envisaged in the National 15th Five-Year Plan.

Other key highlights of the MPFA and eMPF Company 2025-26 Annual Reports are as follows:

• The number of tax-deductible voluntary contribution accounts reached 101,000, with cumulative contributions of $15.61 billion since its launch.
• About 3.7 million MPF accounts, which was about 32.9% of the total 11.2 million MPF accounts, had investments in constituent funds under DIS, with assets of $169.61 billion, about 11.1% of total MPF assets.
• $177 million of default contributions were recovered for over 90,000 employees.
• For the financial year, MPFA recorded a surplus of approximately $2.19 million, the second consecutive financial year to have a surplus. eMPF Company recorded a surplus of $1.189 billion which will be retained as operating reserves. Once adequate operating reserves are built up for future operations and development purposes, any surplus exceeding the required reserve level will be used to further lower the eMPF fees, directly benefiting scheme members.
• As at the end of April 2026, eMPF had processed more than 11.8 million transactions, with approximately 78% of instructions submitted digitally.

This year, MPFA advanced its innovation efforts with a video that combines AI-generated animation and live-action footage featuring MPFA Chairman Mrs Ayesha Macpherson Lau and Managing Director Mr Cheng Yan-chee. The video traces the 25-year transformative development of MPF and highlights the key strategic initiatives and notable achievements of MPFA and eMPF Company over the financial year. Click here to watch the video: https://www.mpfa.org.hk/en/global/videos/corporate_videos/annualreport2026_en

The Annual Reports of MPFA and the eMPF Company are available on the websites of MPFA and eMPF respectively.

Photo: The MPFA produced a short video introducing the major work and key statistics of MPFA and eMPF Company during the past financial year.

—Ends—

MPFA

1 September 2026