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- Personal Account
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Personal Account
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1. What is a "personal account"?
“Personal account” accrues the MPF benefits derived from a scheme member’s previous employment or self-employment; and/or the MPF benefits (employee’s part) transferred from a scheme member’s contribution account under current employment by exercising the transfer right under Employee Choice Arrangement. New contributions are not held in this account.
2. Is there a limit on the number of "personal account" that one can have?
No. Employees may decide to open personal account with any approved trustees to hold their MPF accrued benefits. However, employees can consider consolidating several personal accounts for easier management. The MPFA’s “How to Consolidate MPF Personal Accounts” 
leaflet provides detailed information about the account consolidation procedure.
leaflet provides detailed information about the account consolidation procedure.3. Does ECA affect the transfer arrangement of "personal account"?
The transfer arrangements under ECA are applicable only to the accrued benefits under the contribution accounts. After employees have transferred such benefits from the contribution account to their personal accounts, there is no restriction on the number or timing of transfers to any MPF trustee and scheme.
