4th August 2026
Here’s a fun little quirk: even the Government needs an MPF provider for its civil service. Yes, really. It’s one of those delightful “wait, they do that too?” moments — like wondering where a celebrity orders their late-night pizza, or which doctor a doctor calls when they’re feeling under the weather.
So who does Hong Kong’s largest employer pick to look after its retirement savings? The answer is more interesting than you might think.
Winning the Government’s Trust Is No Small Feat
Landing the government’s MPF business isn’t a casual handshake deal. Providers go through a rigorous tender process, and the prize is a hefty one: a contract that runs for a full 10 years.
The government faces a uniquely complex challenge: choosing a retirement savings platform for a workforce that spans a wide range of ages, balances, risk profiles, needs, and wants. Simply picking the best investment performer doesn’t cut it — what works for one demographic may not work for another. The duty of care is significant, which is why the government must identify a provider that performs well across all criteria, not just one.
So being chosen is a serious badge of honour. It’s a vote of confidence that says a great deal about a provider’s products, services, and overall capabilities.
A Quick Look at Past Winners
Over the years, several schemes have been awarded the tender:
- AIA MPF – Prime Value Choice
- Hang Seng Mandatory Provident Fund – SuperTrust Plus
- BCT MPF – Smart Plan ( Effective July 27th 2026, Principal MPF – Smart Plan was renamed BCT MPF – Smart Plan following BCT’s takeover as trustee/provider.)
- BCT (MPF) Pro Choice
- BOC-Prudential Easy-Choice Mandatory Provident Fund Scheme
- Sun Life Rainbow MPF Scheme
An impressive lineup. But which schemes were this year’s stars?
The 2026 MPF Awards Winners
This year, the three big winners at the 2026 MPF Awards were the Sun Life Rainbow MPF Scheme, the Manulife Global Select (MPF) Scheme, and the HSBC Mandatory Provident Fund – SuperTrust Plus. And here’s where it gets interesting — these same three schemes were also selected for the government tender. The qualities that earned them recognition — strong performance, value for money, and high employer satisfaction — are exactly the kinds of things a rigorous tender process looks for.
Sun Life: Diamond Choice Award
Sun Life took home our brand-new Diamond Choice Award — and they’re also the only provider to have won the Government tender twice. Both speak to the same thing: a track record of delivering consistent, long-term value for money that any employer — government or otherwise — would find hard to overlook.
Diamond Choice made its debut in 2026 to mark MPF’s 25th year in operation. It’s awarded to the scheme that has delivered the highest value-for-money since MPF launched in December 2000 — factoring in after-fee performance since inception, and open only to Gold rated schemes. That’s not a snapshot of one good year; it’s a measure of sustained, real-world results across decades. And when you look at Sun Life’s two-decade track record — consistent long-term performance, transparent costs, and reliable value-for-money year after year — it’s easy to see why both the government and our own rigorous assessment landed in the same place.
HSBC: Scheme of the Year and Employers’ Choice
HSBC was another standout at the 2026 MPF Awards — and it’s not hard to see why. Winning not one but two major awards points to the kind of well-rounded strength that a long-term tender process would be looking for.
Scheme of the Year recognises the most well-diversified MPF scheme across every key area we assess: investment choices and performance, fees and charges, and overall service quality. It goes to the scheme with the best aggregate value for money — the all-rounder champion. A provider that excels across all of these dimensions is exactly the kind of partner a long-term tender process looks for, and HSBC’s broad, proven strength across each of them speaks for itself.
HSBC also claimed the Employers’ Choice Award, run in collaboration with the Employers’ Federation of Hong Kong (EFHK). Introduced in 2019, this award measures employer satisfaction and highlights gaps and trends in the industry — going to the provider that employers trust most. And when a government is choosing an MPF partner for its entire civil service, that level of trust isn’t a nice-to-have; it’s a core requirement. High service standards and genuine employer confidence are exactly the qualities that are required.
Manulife: People’s Choice Award
Rounding out the three big winners, Manulife earned our People’s Choice Award — voted for by the Hong Kong public and given to the most popular MPF scheme provider. But popularity isn’t just a feel-good metric. It reflects something deeper: broad public trust, strong name recognition, and a reputation that resonates with everyday Hong Kong workers. For a government selecting an MPF partner for its entire civil service, that kind of widespread confidence carries real weight.
Looking Ahead
The government’s tender process is rigorous and runs on its own terms. But it’s striking that the three schemes chosen for the tender are the same three that rose to the top of our own independent assessments this year.
What we can say is this: the qualities our awards measure — long-term performance, value for money, service quality, and employer trust — are the same qualities that matter to any serious evaluator.
But Remember — The “Best” MPF Is Personal
Now, before you rush off to copy the government’s homework, a quick word of wisdom. The right MPF provider really comes down to your needs. It’s about weighing up different value offerings and performance to find the fit that works for you.
To make that easier, we release a monthly MPF Performance Survey so you can keep an eye on scheme performance. We also hand out annual scheme awards and ratings, underpinned by our MPFR ratings methodology — a balanced, comprehensive framework for evaluation — to help the public make smarter, more confident decisions. A government endorsement is a strong signal, sure — but the best choice is always the one that suits your personal situation.
The information contained in this blog is not advice, it is for educational purposes, general in nature and does not take into account personal situations. You should consider whether the information is appropriate to your needs, and where appropriate, seek professional advice from a financial adviser.
