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- MPFA consults business, employer and human resources management bodies on MPF full portability proposals (15-16 April 2025)
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MPFA consults business, employer and human resources management bodies on MPF full portability proposals (15-16 April 2025)
MPFA Chief Corporate Affairs Officer Wallace Lau and MPFA representatives met with representatives from the business, employer, and human resources management bodies to brief them on the proposals of full portability of MPF benefits on 15 and 16 April respectively.
Lau pointed out that full portability aims to allow scheme members to freely transfer a bigger proportion of their MPF to an MPF scheme of their choice and encourage them to proactively manage their MPF investments. By fostering market competition, it will also motivate trustees to further enhance their services. The proposals for full portability put forward in the consultation can cover different employees, and at the same time can meet statutory operational needs of the MPF System as well as endeavour to avoid extra administrative burden and costs on stakeholders.
MPFA launched a one-month public consultation on proposals to implement full portability on 28 March. The consultation paper is available on the MPFA website (https://www.mpfa.org.hk/en/info-centre/consultations-and-conclusions/open), and members of the public are welcome to provide their feedback to the MPFA by 28 April.
