MPF System

MPF Account Management

Scheme members are allowed to transfer their MPF from one scheme to another under the following circumstances.

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Cessation of employment

When an employee changes jobs, the MPF in his/her contribution account under the original scheme can be handled in one of the following ways:

 

  • transfer the MPF from the contribution account under the original scheme to the contribution account under the scheme of the new employer; or
  • transfer the MPF from the contribution account under the original scheme to a personal account under any other schemes* (including the scheme of the previous employer).

 

* Employer-sponsored schemes do not offer personal accounts.

Notice of termination

When an employee terminates his/her employment, the employer must notify the trustee of the date of cessation of employment.

 

With regard to the MPF held in the employee’s contribution account, if the trustee has not received any instruction from the employee within 3 months after receiving the notice of termination of employment from the employer, the employee’s MPF will be automatically transferred to a personal account under the original scheme and continue to be invested.

Statutory declaration

If the employer fails to comply with the above requirement, the employee can submit a Statutory Declaration of Cessation of Employment to the trustee as evidence of the date of cessation of employment.

 

Note: A statutory declaration must be an original document.

 

Scheme members can make a statutory declaration before a Commissioner for Oaths at the Home Affairs Department (HAD), a Notary Public or a Justice of the Peace in Hong Kong, and have them signed on the declaration.

 

Remember to bring your HKID card and the completed declaration form. For details, please contact the Telephone Enquiry Centre of HAD at 2835 2500.

Employee Choice Arrangement

Employee Choice Arrangement (ECA) allows employees to transfer the MPF derived from the employees’ mandatory contributions in their contribution accounts to an MPF scheme of their own choice once a year1.

Advantage

ECA gives employees greater autonomy in choosing their MPF trustees and schemes.

Transfer procedure

Submit a completed ECA Transfer Election Form (MPF(S)-P(P)) to the new trustee for processing. Please refer to a step-by-step guide for details.

Important notes

  • The MPF derived from the employees’ mandatory contributions has to be transferred in one lump-sum.
  • Employees cannot transfer the MPF derived from the employer’s mandatory contributions under current employment. Such MPF must be retained in the original scheme until cessation of employment.
  • Employers must continue to make contributions (both the employer’s and the employee’s portions) to the employer’s original scheme, instead of the employee’s newly chosen scheme, even after the employee has exercised the right of transfer under ECA.
1A year refers to the period from 1 January to 31 December.
MPF from previous accounts in the contribution account under current employment
If an employee has already transferred mandatory and voluntary contributions from previous employments to the contribution account of his/her current employment, he/she can choose to transfer these contributions to another scheme of the employee’s choice at any time.
Transfer between personal accounts

Consolidating personal accounts

If a scheme member has many personal accounts, it can be difficult to manage. A scheme member can consolidate multiple personal accounts into one account under his/her favourite MPF trustee and scheme, making it much simpler and easier to manage MPF.

Enquiries about personal accounts

MPFA provides enquiry service of personal accounts free of charge. For more information, please check out our Enquiries about Personal Accounts webpage.
Transfer between TVC accounts
Scheme member can at any time transfer the MPF in their tax deductible voluntary contribution (TVC) accounts to any MPF schemes that offer TVC accounts.
Self-employed persons
Self-employed persons (SEP) can at any time transfer their MPF to another MPF scheme of their own choice.

MPF Tips: 

Click here to learn more about switching MPF funds within the same account (i.e. to change your MPF investment portfolio).