【明報專訊】ELEVEN YEARS into its implementation, the Mandatory Provident Fund (MPF) has failed to yield satisfactory returns. A study by the Consumer Council of the 523 funds currently available found that, in the past five years, the best performing fund registered an average gain of 5.81 percent, while the poorest performing one suffered a loss of 14.04 percent on average every year. At the same time, 159 (nearly 50 percent) of the 341 funds that provided data posted an average loss. While the majority of the funds have earned positive returns on average over the past ten years, they have not performed as well as hoped for. In the foreseeable future, the MPF cannot be expected to offer much retirement protection or significantly relieve the pressures of population aging.