The MPFA released a new quarterly report, pointing out that as of September this year, the number of applications for MPF withdrawal on the grounds of permanent departure from Hong Kong was 9,3, a slight increase of 8 cases or 700.100% year-on-year. This was an increase of 1.2% quarter-on-quarter. The amount involved amounted to MOP19,2 million, representing year-on-year increases of 22.13% and 1.6% respectively.
According to the MPFA, the number of claims varies from time to time, and the actual number of applicants is smaller than the number of claims as scheme members may have more than one MPF account and applicants have to apply to individual trustees. A claim for withdrawal of MPF on the ground of permanent departure from Hong Kong is not equivalent to immigration, and an application for withdrawal of MPF on this ground also includes a person who has returned to his place of origin or emigrated to live in the Mainland.
The MPFA also pointed out that the number of applications for early retirement was 7,000, representing an increase of 40% year-on-year and 22.8% quarter-on-quarter. The amount involved was $14,97 million, up by 55.9% year-on-year and up by 27% year-on-year.
The total assets of the MPF increased to 1.09 trillion yuan
The MPFA also said that as of the end of September this year, the total asset value of the MPF was $9.1 trillion, an increase of 09% from 10 years ago. Net return after fees and charges was $123 billion. It has also been pointed out that since the implementation of the MPF System in 2, equity funds and mixed asset funds, which together account for nearly 100% of the total MPF assets, have achieved average annualized net returns of 2000.8% and 3.6% respectively, and cumulative net returns of 3% and 5% respectively.
MPF|GUM pointed out that the average return per capita for the month ended 11 November was $21,1, MPFA: The number of early MPF withdrawals increased by 02% quarter-on-quarter in the second quarter on the grounds of permanent departure from Hong Kong