What's New

MPFA Chief Corporate Affairs Officer Wallace Lau and MPFA representatives met with The Federation of Hong Kong and Kowloon Labour Unions (FLU) on 8 April. During the meeting, they introduced the proposals for implementing full portability of MPF benefits (full portability) to FLU Chairman Hon Lam Chun-sing, Secretary-general Hon Chau Siu-chung and over 100 members of the FLU Standing Committee and representatives of FLU’s labour unions, and sought their feedback on specific proposals.

Lau emphasized that full portability would enable the working population to transfer more of their MPF benefits derived from mandatory contributions to an MPF scheme of their choice. This would encourage employees to be more proactive in managing their MPF, thereby fostering market competition and creating room for fee reductions. He encouraged representatives of labour unions to share their views, which will help the MPFA refine the full portability proposals.

MPFA launched a one-month public consultation on specific proposals to implement full portability on 28 March 2025. The consultation paper is available on the MPFA website (https://www.mpfa.org.hk/en/info-centre/consultations-and-conclusions/open). Members of the public are welcome to provide their feedback to the MPFA by 28 April.