Hong Kong to Launch MPF Full Portability, Allowing Annual Transfer of Employer Contributions

Phase one of Hong Kong’s Mandatory Provident Fund (MPF) Full Portability scheme will begin on December 21, letting employees move their accrued employer contributions to a scheme of their choice once each calendar year. Lawmakers praised the move, arguing it will give workers more autonomy, foster competition among trustees and help drive down administrative fees. Lawmaker Chau Siu‑chung highlighted the eMPF platform’s role in simplifying the transfer process and called for clearer public information, noting that roughly 80 % of workers are still unclear about full portability. Lam Chun‑sing cautioned against frequent scheme changes, warning that high administrative costs could erode returns, and urged workers to consider the default investment strategy for stability.