Mercer today released the latest findings of the Mercer Mandatory Provident Fund Satisfaction Index (Mercer MPFSI). The monthly index recorded a score of 50.8 in December 2018, slightly down from 50.9 in November 2018. Although the Hang Seng Index (HSI) has fallen 11% since January 2018, the Mercer MPFSI has remained constant throughout the year.
Hang Seng Index and Mercer MPFSI
“Despite the high fluctuation in the Hang Seng Index, the Mercer MPFSI has remained relatively steady for two main reasons. Firstly, some respondents view their MPF holdings as a long-term investment, therefore, short-term market volatility doesn’t affect their confidence in the type of investment. On the other hand, other respondents lack sufficient knowledge and awareness with regard to their MPF holdings. As such, their satisfaction levels are not affected by market volatility,” said Mr. Billy Wong, Health & MPF Leader, Mercer Hong Kong.
MPF enquiries have led to higher satisfaction levels
Interestingly, members who have enquired about their MPF accounts at least once in the last 12 months feel more satisfied. In December 2018, the satisfaction level of people who made MPF enquiries was 54.5, more than 15 points higher compared to people who did not make enquiries (38.9). Moreover, more than one-fifth of respondents (23.3%) stated that they had not sought any advice with regard to their MPF.
“Enquiry frequency and the understanding of investment type have been important factors contributing to member satisfaction levels, as recorded by the Mercer MPFSI. We are surprised to see that more than 23% of respondents haven’t sought advice via online or personal channels, or by contacting MPF agencies. With the Mandatory Provident Fund Schemes Authority (MPFA) having conducted years of promotion, it’s still essential to have revolutionary changes to encourage members’ awareness,” said Mr Wong.
MPF digital review platform is a foreseeable trend
According to a survey conducted by the MPFA, about 80% of members are reviewing their fund portfolio through trustees' electronic platforms. With technology advancements, the MPFA is planning to launch MPF digital review platform by 2022.
“In the coming years, the digitalization of MPF management will become a major trend in simplifying and standardizing the process, thereby encouraging both employers and employees to continuously review their MPF management and accounts in a user-friendly way,” added Mr Wong.
He concluded by saying, “The beginning of a new year, such as now, is an ideal time for members to actively review their investment portfolios and better utilize the digital tools on hand to strive for greater returns in the future.”
Note to editors
The Mercer MPFSI was conducted by Nielsen to track the satisfaction level of MPF members. The survey interviews more than 2000 respondents per year who are among the working population with MPF and whose monthly personal income is not less than HKD 7,100 (minimum threshold eligible for MPF membership). The survey was conducted through methods of online self-completion (age 20 – 54) and offline street intercept (age 55 or above).
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王玉麟先生表示：「成員查詢強積金的頻繁程度及對投資類型的認識，是影響滿意指數的重要因素。我們對超過23% 的受訪者從未透過網上、個人聯繫或強積金受託人尋求建議感到意外。強制性公積金計劃管理局（積金局） 多年來致力推廣強積金，但市場仍需進行革命性的改變以提升成員對強積金的認知。」
美世通過諮詢建議和技術驅動的解決方案協助企業滿足其變化不斷的工作團隊的健康、財富和職業發展需求。美世在全球超過 130 多個國家開展業務營運，擁有逾 23,000 名僱員，分佈於 44 個國家。美世是威達信集團（Marsh & McLennan Companies，紐交所代碼：MMC）的全資子公司。威達信集團是一家全球性，提供風險、戰略與人力資本相關專業服務的國際集團公司，在全球擁有將近 65,000 名僱員，年收入逾 140 億美元。威達信集團同時也是達信（Marsh）、佳達（Guy Carpenter）、和奧緯（Oliver Wyman）等市場領先公司的母公司。威達信協助客戶應對日益變化和複雜的商業環境。如需更多資訊，請瀏覽 www.mercer.com，或在 Twitter 上關注美世 @Mercer。
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