HK MPF COMPARE

MPF Fees Explained

FER, management fees, trustee charges, and voluntary-contribution fees — in plain English.

Back to fund comparison

How fees affect your MPF balance

Latest complete MPFA data as of 30 Sep 2026

Age 65 Plus FundPublished FER: 0.81%5-year return p.a.: 0.15%
Fee scenarioBalance in 20 yearsDifference vs published FER
Published FER · 0.81%HK$1,184,559HK$0
Hypothetical fee 1 · 0.50%HK$1,228,976HK$44,417
Hypothetical fee 2 · 1.50%HK$1,090,673HK$-93,885

MPFA returns already include fees. The published-FER scenario matches the calculator. Hypothetical scenarios hold the estimated pre-fee return (published 5-year return + FER) constant and subtract only the chosen fee. This isolates fee impact; it does not predict returns or show another fund’s performance. Mandatory contributions follow the calculator’s rules. Past performance is not a forecast; verify MPFA source figures before decisions.

MPF calculator

How much are MPF fees?

The MPFA's industry-average Fund Expense Ratio (FER) is around 1.3% per year. Individual funds range from roughly 0.5% for low-cost DIS / index-tracking funds up to 2%+ for actively managed equity funds. The fee is accrued daily inside the unit price — you never receive a separate invoice.

What does the FER cover?

  • Management / investment fee paid to the asset manager
  • Trustee, custodian and administration fees
  • Audit, legal, compensation-fund levy and other operating expenses

Everything is bundled into one annual % figure — which is why the FER is the single most useful number when comparing MPF funds.

Does MPF charge fees on voluntary contributions?

Yes — voluntary contributions sit in the same constituent funds as your mandatory balance, so they pay the same FER. There is no extra fee for contributing voluntarily, and no upfront sales charge.

How much fee is deducted from my first MPF contribution?

None upfront. MPF schemes in Hong Kong do not charge a sales load on contributions. Your money buys units at the daily price, and the FER is accrued continuously inside that price across the year.

How to compare MPF fees

Compare the FER of funds in the same asset class — a Hong Kong equity fund vs a Hong Kong equity fund, not equity vs bond. Our comparison tool sorts every MPF constituent fund by FER, 1-year and 5-year p.a. return so you can see the cost / performance trade-off side-by-side.

→ Compare every MPF fund by fee

Source: MPFA Fund Expense Ratio data, mfp.mpfa.org.hk. Educational information only — not financial advice.

For information only — not financial advice. Fund data from mfp.mpfa.org.hk. View full disclaimer

Intended for Hong Kong residents only.