MPF System

Enrolment and Termination

Usually, only employers and SEPs have to choose MPF schemes. However,  the following persons are also required to make a choice in the following situations:


  • When an employer offers two or more MPF schemes for employees to choose from.
  • When an employee ceases an employment and wishes to transfer the MPF from the previous employment to another MPF scheme.
  • When an employee exercises the right of transfer under the Employee Choice Arrangement.
  • When a person wishes to make tax deductible voluntary contributions (TVC) or special voluntary contributions (SVC).

Factors to consider when choosing an MPF scheme

1. Range and quality of services of trustees and their service providers


For more information about the services available under various MPF schemes, please contact the relevant trustees or refer to the Trustee Service Comparative Platform on MPFA’s website.

2. Sufficient choice and suitability of funds


When assessing an MPF scheme, it is far more important to consider the suitability of funds than the number of funds that are offered.

For more information about the funds offered by different MPF schemes, please contact the relevant trustees or refer to the MPF Fund Platform.

If a scheme member does not indicate any fund choice in the enrolment form for the MPF scheme, the contributions will be invested according to the Default Investment Strategy (DIS)

3. Fees and charges


Funds under MPF schemes are managed by professionals and thus incur fees and charges.


Different MPF schemes have different policies in levying management fees. Scheme members should also check for any other fees and charges, such as:

  • joining fees; and/or
  • annual fees; and/or
  • transaction fees and charges deducted from scheme members’ accounts.

For more information, refer to the fee table in the MPF Scheme Brochure of the relevant MPF scheme or the MPF Fund Platform on MPFA’s website.

Understanding MPF schemes

Key Scheme Information Documents and MPF Scheme Brochures


Trustees must provide Key Scheme Information Documents and MPF Scheme Brochures to persons who are considering joining an MPF scheme (including both potential scheme members and participating employers). The Key Scheme Information Document provides key information about an MPF scheme and the MPF Scheme Brochure provides details of an MPF scheme.


Key Scheme Information Documents and MPF Scheme Brochures can be obtained from trustees or downloaded from the Repository of MPF Scheme Documents on MPFA’s website. These documents are also available in most of the trustees’ company websites.