First MPF Full Portability Phase Starts December 21
SingTao · 8 SOURCESabout 3 hours ago5 MIN
Summary
The Mandatory Provident Fund Schemes Authority said the first phase of full MPF portability will start on December 21, after the government earlier gazetted the implementation date. MPFA chairperson Ayesha Macpherson Lau (劉麥嘉軒) said the first phase will cover about one million employees who joined the workforce or changed jobs on or after May 1, 2025, with the eligible pool expected to keep growing. Under the new arrangement, eligible employees may transfer all accrued benefits derived from employer mandatory contributions during current employment from the employer’s MPF scheme to a self-selected personal account. The eMPF Platform has updated its functions for the rollout, and members can start handling 2026 transfers from December 21 to 31 before 2027 transfers open from January 1.
Key Points
- Lau said full portability will be introduced in two phases to ensure the new arrangement is implemented properly and in an orderly way.
- The first phase applies to employees who entered the workforce or changed jobs on or after May 1, 2025, covering about one million people initially.
- Eligible members can transfer employer mandatory contribution benefits from current employment into a self-selected personal account, while employers’ existing contribution procedures remain unchanged.
- Members may process a transfer for the 2026 calendar year between December 21 and December 31, and begin 2027 transfers from January 1.
- The second phase covers employees already in their current jobs before May 1, 2025, and the government plans to table an amendment bill in mid-2027.
Why It Matters
For newly eligible workers and those who changed jobs after the offsetting rule change took effect, the reform expands control over retirement savings beyond the existing semi-portability arrangement. The MPFA is also signalling that greater choice does not mean frequent switching, urging members to compare fund options, performance and fees before making any move.