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Under the MPF System, an employee who moves to a new job may transfer his or her accrued MPF benefits to the MPF scheme of the new employer.

 “Having joined the new employer’s MPF scheme within 60 days of employment, an employee may arrange the transfer by completing a designated application form (i.e. “Scheme Member’s Request for Fund Transfer Form”) which is obtainable from the trustees or the MPFA. The form can also be downloaded from the MPFA’s web site at https://www.mpfa.org.hk/en ,” said a spokesman for the Mandatory Provident Fund Schemes Authority (MPFA).

The completed form should be returned to the new trustee for processing. Upon completion of the transfer, the employee will receive a transfer statement and a confirmation statement from the existing and the new trustees respectively.

Other than transferring the benefits to the new employer’s scheme, an employee may also choose to stay with the original service provider, or select any other MPF provider available in the market. Either way, he or she needs to open a preserved account to handle the accrued benefits.

“An employee may change jobs several times during his or her working life. MPF benefits are to be retained and can only be withdrawn when the employee reaches the age of 65 except for certain exceptional circumstances. It is therefore important to clearly understand the procedures of transferring accrued benefits when one switches jobs,” said the spokesman. 

To find out more about the transfer process, members of the public may obtain a leaflet entitled “Guide to Employees on MPF Benefit Transfer”.  Copies of the leaflet, available in both Chinese and English, will be widely distributed through the Public Enquiry Service Centres of the Home Affairs Department, regional offices of the Labour Department and the MPFA office from next Monday (August 27). The full text of the leaflet can be downloaded from the MPFA’s web site.

Members of the public may also call the MPFA’s hotline at 2918 0102 if they have any enquiries.

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26 August 2001