MPF System

Since November 2012, an employee is allowed to transfer the MPF derived from employee mandatory contributions under current employment from the contribution account in an MPF scheme participated by the employer to a personal account in an MPF scheme of the employee’s choice in its entire amount once in every calendar year.

MPF Full Portability further allows an employee to transfer the MPF derived from employer mandatory contributions under current employment from the MPF scheme participated by the employer to an MPF scheme of the employee’s choice.

Full Portability will be implemented in two phases, benefiting employees who entered the job market or changed employment on or after 1 May 2025 and employees whose employment commenced before 1 May 2025 respectively. 

After the implementation of Phase One MPF Full Portability on 21 December 2026*, an employee who entered the job market or changed employment on or after 1 May 2025 is allowed to transfer the MPF derived from employer mandatory contributions (in addition to the MPF derived from employee mandatory contributions) under current employment from the contribution account in an MPF scheme participated by the employer to a personal account in an MPF scheme of the employee’s choice in its entire amount once in every calendar year.

As for employees whose employment commenced before 1 May 2025, MPFA is rendering support to the Government in taking forward the legislative amendment for Phase Two MPF Full Portability such that the remaining employees can benefit from Full Portability as early as possible. 

* The date is subject to the completion of scrutiny of the relevant legal notice by the Legislative Council.

The relevant employees will have greater autonomy in choosing their MPF trustees and schemes so more scheme members can hold their MPF in schemes of their choices that can best meet their personal needs.  Coupled with the benefits brought by the full operation of the eMPF™ Platform, allowing employees to transfer the MPF derived from employer^# and / or employee mandatory contributions can further encourage employees to proactively manage their MPF investment choices, and help foster market competition, thereby creating room for further fee reductions.

^# Applicable to employees who entered the job market or changed employment on or after 1 May 2025.