The Three Types of MPF Scheme 三類強積金計劃
An employer sponsored scheme is restricted to employees of a particular employer and its subsidiaries or associated companies. Its defining feature is the connection between eligibility for membership and that employer. [MPFA: Employer Sponsored Schemes](https://www.mpfa.org.hk/en/mpf-system/types-of-mpf-schemes/employer-sponsored-schemes)
A master trust scheme can serve employees of different employers, self-employed persons and other eligible participants. Pooling contributions, administration and investment creates economies of scale; membership is not restricted to employees of one employer or corporate group. [MPFA: Master Trust Schemes](https://www.mpfa.org.hk/en/mpf-system/types-of-mpf-schemes/master-trust-schemes)
Industry schemes serve the construction and catering industries, particularly the needs of casual employees. Regular employees in those industries can also participate, so an industry scheme should not be understood as accepting casual employees only. [MPFA: Industry Schemes](https://www.mpfa.org.hk/en/mpf-system/types-of-mpf-schemes/industry-schemes)
The Relationship Between Schemes and Constituent Funds 計劃與成分基金的關係
The scheme provides the overall arrangement, while constituent funds are the investment funds within it. Employer sponsored schemes, master trust schemes and industry schemes all contain constituent funds; a constituent fund is not a fourth scheme type alongside those three.
Members invest both contributions and accrued benefits in constituent funds. Contributions are payments into the scheme; accrued benefits are the member’s beneficial interest in it, including amounts derived from contributions and their investment returns. Constituent funds therefore serve more than the investment of new contributions. [MPFA: Glossary](https://minisite.mpfa.org.hk/MPFIE/en/tools-resources/glossary/)
When answering a question, identify whether it concerns the scheme type or a fund within the scheme. For example, moving investments from Constituent Fund X to Constituent Fund Y within the same scheme, under arrangements permitted by that scheme, changes the fund allocation while the scheme remains the same.
Practice
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