Info Center

MPFA Chairman Mrs Ayesha Macpherson Lau published her blog post today (1 June), highlighting that the eMPF Platform (eMPF) has been in operation for nearly a year. Since its launch on 26 June last year, the overall operation of the eMPF has been smooth, demonstrating that the phased onboarding approach, whereby all MPF trustees joining the eMPF one by one in ascending order of the MPF assets under their management, has ensured safe and reliable data migration while maintaining stable operations. 

The reduction in administration fees of MPF funds has been implemented since the first phase of onboarding. The fee charged by the eMPF is set at 37 basis points (0.37%) currently, which is 36% lower than the average of 58 basis points (0.58%) charged by trustees before joining the eMPF, and will be further reduced gradually. It is estimated that the fee charged by the eMPF would reduce to 20 to 25 basis points (0.20% to 0.25%) over a 10-year period, with a cumulative cost savings of $30 billion to $40 billion, which is equivalent to a 41% to 55% reduction in administration fee charged by trustees currently. 

Mrs Lau said that the eMPF operates on a non-profit basis. The “straight pass-on” requirement as stipulated in the MPF legislation required that MPF scheme administration fee charged by trustees must not exceed the fee they pay to the eMPF Platform Company, leading to a corresponding reduction by trustees in their overall fees and charges and directly benefitting MPF scheme members.

In March 2025, the eMPF embarked on phase 2 onboarding (March to August 2025) with several medium-sized MPF trustees and schemes joining the eMPF one by one. Upon the completion of phase 2 onboarding, the eMPF will cover over 2.7 million scheme member accounts and approximately 70,000 employer accounts (accounting for 25% of the total accounts in both categories respectively), further expanding the coverage of the Platform’s service group. Mrs Lau urged MPF scheme members and employers who are about to join the eMPF to thoroughly read the communication packs sent to them by trustees and complete their registration on the eMPF in a timely manner, in accordance with the instructions.

She added that phase 3 onboarding is very challenging as it involves the four largest MPF trustees. The eMPF project team keeps enhancing the Platform to provide a better experience for all users. To facilitate a smooth transition of employers, the eMPF project team has enhanced a series of support measures, with the eMPF outreach service being the most well-received.  From June last year to May this year, the outreach team made over 4,000 visits to employers’ premises to provide assistance and offer support. Additionally, the three service centres located in Hong Kong Island, Kowloon and the New Territories, recorded close to 19,000 visits in total. Mrs Lau urged employers who are about to onboard to make good use of these support services.

For the full version of the article, please visit the MPFA blog. The blog is available in Chinese only.

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1 June 2025