Types of MPF Schemes

Master Trust Schemes

Participants: the most common type of MPF scheme, open to the employees of participating employers, self-employed persons and persons with accrued benefits to be transferred from other schemes.

 Characteristics: by pooling together contributions from various employers and their employees, and contributions from self-employed persons, master trust schemes have a high degree of efficiency in terms of scheme administration due to economies of scale.

Employer-sponsored Schemes

Participants: membership in this type of scheme is limited to the employees of a single employer and its associated companies.

Characteristics: because of its restriction in membership, it is only cost-effective to run an employer-sponsored scheme if the number of employees is large.

Industry Schemes

Participants: schemes specially established for employees of the catering and construction industries, particularly casual employees (i.e. workers employed on a day-to-day basis or for a fixed period of less than 60 days).

Characteristics: casual employees do not need to change schemes when they change jobs within these two industries, so long as their previous and new employers have registered with the same Industry Scheme.