Eighteen years have passed since the Mandatory Provident Fund (MPF) system officially came into operation at the end of 2000. However, quite a number of casual workers who change jobs more frequently are still unaware that they are also protected by the MPF schemes, and know little about how to manage their MPF accounts. David Wong Yau-kar, the chairman of the MPF Schemes Authority, wrote on his blog yesterday that there are some 245,000 incomplete MPF accounts involving a total amount of $440 million. The money virtually becomes unclaimed and may remain idle in these accounts infinitely. Wong lamented that some workers may not be aware at all of the existing MPF accounts, calling them to manage their MPF accounts on their own.

　　Wong said about 70 per cent of all Hong Kong residents belong to labouring population, and there are over 2.6 million employees registered under the MPF system. Most of them have permanent employment and participate in the Master Trust Schemes. By end of last year, over 600,000 employees in construction and catering industries have participated in the Industry Schemes, who are temporary employees known as casual workers. They change jobs more frequently than workers in other industries. Without the backing of their employers or a human resources department, they need to manage their MPF accounts on their own.

　　A1,11 February 2019