High MPF fees, limited choice and cumbersome transfers

For the same MPF contributions, picking the wrong trustee and fund can mean a difference in returns measured in the millions decades later. Many workers report that the trustee with the largest market share charges management fees and posts track records among the weaker in the industry, yet keeps drawing in vast contributions on the strength of its huge sales network.

Under the current system, members can transfer the self-selected portion through the partial portability arrangement, but with limited fund options and poor fee transparency, an ordinary contributor struggles to judge which North American or index fund is genuinely worth it. Lacking any neutral comparison tool, most people can only decide where their retirement assets go based on word of mouth among peers or a salesperson's pitch.