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The Financial Secretary has approved the eMPF Platform^TM (eMPF) fee for the 2026-27 financial year. Effective 1 April 2026, the fee charged by eMPF will be reduced from the current 37 basis points (bps) (0.37%) of the assets under management of an MPF scheme to 29 bps (0.29%), representing a fee reduction of 21.6% to directly benefit all MPF scheme members. 

MPFA and eMPF Company Chairman Mrs Ayesha Macpherson Lau welcomed the Financial Secretary’s approval of the proposal to further reduce eMPF fee. She noted that since the launch of eMPF to handle MPF scheme administration work, owing to its standardized, streamlined and automated design, along with the non-profit operational model of the eMPF Company, it has already reduced fees from an average of 58 bps to 37 bps, which will be further lowered to 29 bps, representing a reduction by half of the MPF scheme administration fee previously charged by trustees.

“The digital usage rate of eMPF in the past 22 months has exceeded expectations,” Mrs Lau added. “Together with the more significant economies of scale and the growth in MPF assets, this has not only realized the policy intent of launching eMPF, but also surpassed the initially projected level and pace of fee reduction. The original estimate of $30 to $40 billion in administrative cost savings over 10 years of operation has now been increased to $50 billion and accelerated to within less than 10 years.”

Under the “straight pass-on” requirement set out in the MPF legislation, scheme administration fee charged by trustees must not exceed the eMPF fee they pay to the eMPF Company. As a result, any administrative cost savings achieved through eMPF must be fully and directly passed on to scheme members.

Looking ahead, Mrs Lau said that the eMPF Company will intensify its efforts to boost the digital usage rate while maintaining strict cost control to create more room for further fee reduction to benefit scheme members. She urged all eMPF users to manage their MPF digitally to enhance digitalization and achieve greater economies of scale. Scheme members who have not yet registered with eMPF are encouraged to do so as soon as possible to take advantage of digital MPF management.

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24 March2026