MPF withdrawals set to soar as HK exodus continues

Hong Kong’s pension fund, the Mandatory Provident Fund (MPF), is dealing with an increased administrative burden as a result of a mini exodus from the city. According to new Hong Kong government statistics, the SAR’s population had declined by 1.2% in the past year. The scale of the exodus is the greatest since records were first calculated 60 years ago – greater even than during the Handover in 1997. Despite the healthy growth in MPF assets in the last year, with the average MP…