Key facts
- About 1 million Hong Kong employees will be eligible for MPF full portability starting December 21, 2026.
- Employees can transfer their entire MPF balance annually to a provider of their choice.
- Phase One covers new employees hired on or after May 1, 2025.
- The MPFA is implementing the change in two phases to ensure a smooth transition.
Hong Kong employees will gain enhanced control over their retirement savings as the "full portability" arrangement for Mandatory Provident Fund (MPF) balances takes effect from December 21, 2026. Approximately 1 million employees, specifically those who started their current employment on or after May 1, 2025, will be eligible for Phase One of this reform. This allows them to transfer their entire MPF balance, including employer mandatory contributions, to a scheme of their choice once a year. The Mandatory Provident Fund Schemes Authority (MPFA) is rolling out the change in two phases to ensure a smooth implementation. Phase Two, which will cover employees hired before May 1, 2025, is expected to be introduced by mid-2027.