[Hong Kong, 21 October 2026] GUM today announced the findings of 2026 “GUM MPF Confidence Index” survey result. The survey revealed that Hong Kong MPF members' confidence in whether MPF can support their retirement life rose to 5.1 out of 10, significantly higher than 4.0 in 2025, and the highest level recorded in the survey's 15-year history. At the same time, members are paying greater attention to retirement planning and taking a more active role in managing their MPF investments, reflecting a growing retirement planning mindset and stronger financial awareness among Hong Kong employees. 

Since 2012, GUM has been tracking public perceptions of retirement, MPF management and confidence levels to study the evolving trends of knowledge, behaviours, confidence and expectations of MPF members. The 2026 survey marks the 15th consecutive year of this longitudinal study, making it one of the few long-running studies in Hong Kong tracking changes in MPF members' attitudes and behaviours. The survey was conducted by independent market research firm*, which interviewed 808 Hong Kong residents aged 18 to 64 between 13 and 15 August 2026, who are participating in the MPF system.

 

Confidence Index Reaches a 15-Year High, Reflecting Improved Market Performance and Higher Member Engagement

The survey shows that confidence in retirement adequacy through MPF has continued to recover. The MPF Confidence Index rebounded from a record low of 2.8 in 2022 to 5.1 in 2026, reaching a 15-year high.

GUM believes that improved market returns in recent years, greater member engagement and the enhanced digital experience brought by the eMPF platform have collectively contributed to rising confidence in the MPF system. The survey also found that 75% of respondents review their MPF performance at least once a year, while around 30% had switched funds within the past six months, indicating that many members actively monitor their MPF investments and adjust their portfolios according to their needs. 

Michael Chan, Managing Director of GUM said, “The GUM MPF Confidence Index rose to 5.1 this year, reaching the highest level in the past 15 years. This reflects growing public attention to retirement planning and MPF management. More importantly, as confidence improves, members are placing greater emphasis on retirement savings adequacy, fund performance and investment choices, signalling a shift from passive participation to more active management of retirement assets.”

 

Retirement Expectations Continue to Rise, Nearly 30% of Hong Kong Employees Expect to Need More Than HK$8 Million for Retirement

While confidence in retirement protection has improved, expectations regarding retirement savings requirements have also increased.

The proportion of respondents expecting to need HK$8 million or more for retirement rose from 21% in 2025 to 28% in 2026. Meanwhile, the average retirement savings target increased by 12% year-on-year, from HK$5.79 million in 2025 to HK$6.48 million in 2026.

Respondents also demonstrated a growing demand for decision-making support as more investment and policy options become available. The survey found that 51% of respondents are interested in AI-powered investment analysis and fund selection tools, while an equal proportion (51%) see regular market updates as the most valuable form of support. In addition, 35% would like access to tools that help assess their risk tolerance, highlighting members' increasing desire for information and guidance in making retirement investment decisions.

 

eMPF Enhances Member Empowerment, One-stop Account Management Increases Retirement Asset Awareness

The eMPF platform offers a more convenient account management experience, allowing members to view and manage multiple MPF accounts through a single platform. This simplifies what was previously a fragmented process and enables members to gain a clearer picture of their overall retirement assets. The survey found that 60% of respondents agreed that eMPF has increased their attention to their MPF accounts. 

With the first phase of MPF "Full Portability" commencement notice submitted to the Legislative Council on 21 October 2026 under the negative vetting process, and is scheduled to take effect on 21 December 2026, members will enjoy greater flexibility and control over their retirement assets. The survey found that 57% of respondents support the Full Portability arrangement after learning about it; while 39% said they would consider transferring their future MPF contributions to a scheme of their own choice if the arrangement is implemented. As members gain more choice and decision-making power, demand for fund information and investment support is also expected to increase.

Yumi Cheung, Strategy and Analytics Analyst of GUM said, "With the growing adoption of the eMPF platform, accessing and managing MPF accounts has become more convenient. The survey suggests that members are paying closer attention to their MPF arrangements, indicating that greater transparency and ease of management encourage individuals to review their retirement assets and retirement planning arrangements more regularly."

 

Strong Demand for Retirement Support, Largest Gap Between Employee Expectations and Actual Employer Support Reaches 61%

The survey also found that employees are increasingly looking to employers for retirement planning and investment education support, with the most preferred initiatives being the provision of more than one MPF scheme option (79%), increased Voluntary Contributions (77%), and the selection of MPF schemes with stronger investment performance (77%). In addition, 68% of respondents would like employers to organise regular MPF-related activities, such as retirement planning seminars and market updates.

However, significant gaps remain between employee expectations and actual employer support. The largest gaps identified were:

• ·       Additional Voluntary Contributions (61% gap)
• ·       Personalised portfolio review and investment guidance (59% gap)
• ·       Regular reviews of MPF scheme performance and switching to better-performing schemes where appropriate (57% gap)

 

Yumi Cheung added, "As more choices become available in the future, respondents are looking for transparent comparison information and decision-support tools. This highlights that members are not only concerned about having more choices, but also about making better choices. At present, many employers are still unable to fully meet employees' needs for retirement education and investment support. This expectation gap shows that retirement planning is no longer simply about making contributions; it has become an important part of a company's overall financial wellness strategy."

 

Beyond the MPF Confidence Index, GUM continues to monitor overall market developments through its GUM MPF Performance Index and fund flow analysis. As of 30 September 2026, the GUM MPF Composite Index delivered a 6.2% year-to-date return, marking its fourth consecutive year of positive performance. Total MPF assets reached HK$1.7 trillion as of August 2026, representing an increase of over 60% compared with the end of 2022. In addition, annualised estimated net fund switching in 2026 reached HK$74.7 billion, potentially the highest level in five years, indicating sustained member engagement in MPF investment allocation decisions.

Michael Chan added, “This year's findings reflect a growing focus on retirement planning among Hong Kong employees. Members are no longer satisfied with simply participating in the MPF system; they are taking a more active role in planning for their desired retirement lifestyle. With MPF Full Portability approaching, the market is gradually moving towards a 'learn first, choose later' mindset, making retirement education and decision support increasingly important. The future of retirement protection is not only about accumulating assets, but also about how employers, service providers and the market can work together to provide clearer information and better support, helping individuals build stronger retirement planning capabilities and confidence.”

* The survey was conducted by independent market research firm Mansfield Consulting Limited from 13 to 15 August 2026, with a total of 808 completed responses collected.

  

Appendix 1: Key Findings of the 2026 GUM MPF Confidence Index

Survey Area	Key Findings
MPF Confidence Index	5.1, highest level in the past 15 years
MPF Performance Review	75% of respondents review their MPF performance at least once a year
Impact of eMPF	60% of respondents agree that eMPF has increased their attention to their MPF accounts
Fund Switching	Around 30% of respondents switched MPF funds in the past six months
Full Portability	57% of respondents support the arrangement after learning about it
Retirement Savings Expectation	The proportion expecting to need HK$8 million or more for retirement increased from 21% in 2025 to 28% in 2026

 

Appendix 2: GUM MPF Performance Index (2023 – 2026 YTD)

 

Notes:

·       Average return per member is calculated based on the MPF market asset value as at the end of the previous month and the total number of MPF scheme members of 4,968,000 (MPFA Mandatory Provident Fund Schemes Statistical Digest, June 2026). Asset value: HK$1,706,043 million (as of 31 August 2026), representing an estimated average assets per member: HK$343,406 (as of 31 August 2026). The GUM MPF Composite Index and 2026 year-to-date returns are as of 30 September 2026.

·       All fund index returns are asset-weighted and calculated on a point-to-point basis. September returns cover the period from 1 September to 30 September 2026. 2026 year-to-date returns cover the period from 1 January to 30 September 2026.

·       Estimated net fund switching (monthly cumulative)" refers to the monthly net amount generated by switching between MPF fund categories, accumulated month by month. These are estimates intended to show the overall scale and cumulative extent of fund switching activity.

·       Before making any investment decision, scheme members should carefully consider their personal circumstances and financial situation, as well as their risk tolerance and stage of life.

·       For more information, scheme member shall refer to the fund fact sheets provided by the fund providers or at the MPFA fund platform.

·       Scheme member shall also note that MPF is a long-term investment. Investment decisions should not be made based on predictions of short-term market trends.

 

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