MPF System

MPF Account Management


There are three types of MPF accounts under the MPF System, namely contribution account, personal account and the tax deductible voluntary contribution (TVC) account.


Contribution account

 

  • Primarily receives and accumulates MPF contributions made under a scheme member’s current employment or self-employment
  • New contributions for each contribution period will be made into this account
  • Contributions that have been transferred into the contribution account and are attributable to former employment and/or self-employment
     


Personal account

 

  • Primarily receives and accumulates MPF contributions made under a scheme member’s former employment and/or former self-employment 
  • Also receives and accumulates the MPF transferred from a scheme member’s contribution account under current employment
  • New contributions for each contribution period under a scheme member’s current employment will not be made into this account

TVC account

 

  • Receives and accumulates TVC made by a scheme member
  • Receives and accumulates the MPF transferred from a scheme member’s other TVC accounts

Scheme members can transfer their MPF between different MPF accounts as allowed by the MPF legislation.