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The MPFA welcomes the approval of the MPF Schemes (General) (Amendment) Regulation 2025 (Amendment Regulation) by the Legislative Council (LegCo) today (26 September), which provides the necessary legal basis for implementing the Phase One Proposal of MPF full portability (full portability). 

MPFA Chairman Mrs Ayesha Macpherson Lau said, “I welcome the approval of the Amendment Regulation, which paves the way for another important milestone in the development of the MPF System. Upon implementation of the Phase One Proposal of MPF full portability, employees whose employment commenced on or after 1 May 2025 (i.e. new employees) may choose to transfer MPF benefits derived from employer mandatory contributions from a Contribution Account in an MPF scheme participated by the employer to a Personal Account in an MPF scheme of their own choice.  Coupled with the benefits brought by the full operation of the eMPF Platform, this can further encourage employees to proactively manage their MPF investments, and help foster market competition, thereby creating room for further fee reductions.”

To support the target to implement the Phase One Proposal of full portability within next year, the MPFA has been actively taking forward the relevant preparatory work.  As for the Phase Two Proposal of full portability for employees whose employment commenced before 1 May 2025 (i.e. existing employees), the MPFA will render full support to the Government in taking forward the legislative amendment exercise within next year such that existing employees can enjoy greater choices in managing their MPF benefits through full portability as early as possible.

MPFA will roll out publicity and education activities to assist employees, employers, MPF intermediaries and other stakeholders in understanding the detailed operation and arrangement of full portability. 

– Ends – 
26 September 2025