Sun Life Financial has received the MPF Scheme of the Year prize in the 2018 MPF Awards in Hong Kong, recognising its outstanding MPF investment performance and service.

The mandatory provident fund (MPF) is a compulsory retirement fund for Hong Kong residents, paid for by both employee and employer.

Sun Life, which is the fifth-largest MPF provider in Hong Kong, has posted the fastest growth rate among firms over the past 10 years, in terms of cumulative growth in percentage of MPF assets. The MPF assets managed by Sun Life rose from HK$4.6 billion as of December 31, 2007, to HK$60 billion as of December 29, 2017, translating to cumulative growth of 1,214%.

Aside from scheme of the year, Sun Life also won nine other awards in the program, including one-year consistent performer, five-year consistent performer, and 10-year consistent performer for 2018.

Belinda Luk (pictured, second from left), general manager for wealth and pensions at Sun Life Hong Kong, said: “We are very proud to have received this prestigious recognition. For the past decade, Sun Life has been diligently applying our experience and expertise, to make MPF a palatable retirement option for the Hong Kong workforce. We are gratified that our effort is being recognised by the professionals and our clients. This will support our relentless debut to deepen our commitment for the overall betterment of Hong Kong's working class.”