Hong Kong saw a 9.5% decrease in pension withdrawals by residents leaving the city permanently in 2023, with HKD7.26bn withdrawn from the Mandatory Provident Fund (MPF). The number of claims dropped by 5.6% to 29,933. The Q4 witnessed a 17.2% quarterly decrease in claims, though there was a 2.9% increase compared to the previous year. Despite this, MPF assets grew by 8.6% year-on-year to HKD1.14tr (USD147bn) in 2023. The MPF’s annualised net internal rate of return improved to 3.4% in 2023 from -15.4% the year before. Equity and mixed assets funds, constituting nearly 80% of the net asset value, outperformed inflation with a 3.7% return. Sun Life announced its upcoming integration with the eMPF platform, enhancing digital access and AI-driven investment recommendations.