Hong Kong Monetary Authority: Withdrawal of MPF totaling HK$6.596 billion on the grounds of permanent departure from Hong Kong in 2024, representing a year-on-year decrease of 9.16%.

The Hong Kong Mandatory Provident Fund Schemes Authority announced that in 2024, a total of 28,000 claims were made to extract MPF funds for reasons of permanent departure from Hong Kong, representing a 6.35% decrease compared to the previous year. The total amount involved was 6.596 billion Hong Kong dollars, a decrease of 9.16% compared to the previous year. In the fourth quarter alone, there were 6,600 claims made for the same reason, representing an 8.33% decrease; the total amount involved was 1.572 billion Hong Kong dollars, a decrease of 6.87% compared to the previous year. As of the end of last year, the total assets of the MPF schemes amounted to approximately 1.29 trillion Hong Kong dollars, an increase of 1.28 times compared to 10 years ago. Since the implementation of the MPF scheme in 2000, the average annualized net returns for stock funds and mixed asset funds, which together account for nearly 80% of the total assets of the MPF schemes, were 4.3% and 4% respectively, higher than the annualized inflation rate of 1.8% during the same period. As of the end of last year, 3.47 million MPF accounts had invested in DIS funds, accounting for 30% of all 11.23 million MPF accounts; the total investment value in these funds was 134.6 billion Hong Kong dollars, representing 10% of the total assets of the MPF schemes. Since the introduction of DIS on April 1, 2017, until the end of 2024, the core accumulation fund and the post-65 fund recorded average annualized net returns of 6% and 2% respectively, higher than the 1.8% inflation rate during the same period. As of the end of December last year, there were a total of 80,000 Tax Deductible Voluntary Contributions (TVC) accounts, representing a 12% increase compared to the previous year. Since the implementation of TVC in April 2019, the total contributions to these accounts have amounted to 11.6 billion Hong Kong dollars.