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The MPFA announced today (2 May) the launch of the eMPF Platform (the Platform) on 26 June 2024. The first two MPF trustees, YF Life Trustees Limited (YF Life) and China Life Trustees Limited (China Life), will get onboard the eMPF Platform on 26 June and 29 July respectively. The remaining MPF schemes will join the Platform one by one in ascending order of the value of MPF assets under management by the trustees, and all MPF schemes are expected to complete onboarding the Platform by end 2025. 

MPFA Chairman Mrs Ayesha Macpherson Lau said at the media briefing, “The launch of the eMPF Platform signifies the birth of a new digital era for the MPF System. Not only is the eMPF Platform easy to use, it will also bring about substantial benefits to users,   addressing the various pain points in managing MPF. The Platform will reduce the administration costs of MPF schemes, directly benefiting scheme members through fee reduction. The user-friendly Platform, which enables employers to handle administration tasks electronically, will save manpower and time, enhance efficiency and avoid human errors.”

“In the future, every employee will have only one eMPF account,” she continued. “When employees’ respective MPF schemes join the Platform, they can view the MPF balances of their schemes under different trustees clearly through a single account. Currently, the process of consolidating different MPF accounts usually takes up to two to three weeks, but after all MPF schemes get onboard the Platform, the process would be shortened by half.”

Following onboarding of MPF schemes to the eMPF Platform, the current systems administered by trustees will be gradually replaced by the Platform. The eMPF Platform, operated by the MPFA subsidiary, eMPF Platform Company (eMPF Company) on a non-profit basis, will provide tremendous benefits and a new digital MPF experience for scheme members and employers through its standardized, streamlined, and automated mode of operation. 

In late April, YF Life began sending communication packs to its scheme members and employers, which contain important dates and information regarding the onboarding process. Starting from 12 June, scheme members and employers of YF Life can register for the eMPF Platform through mobile app or web portal by following the registration steps provided in the communication pack using their Hong Kong Identity Cards or “iAM Smart”. As for scheme members and employers of China Life, communication packs will be sent out at the end of May and they can register starting 12 July.

MPFA Managing Director Mr Cheng Yan-chee reminded scheme members and employers of YF Life and China Life to pay close attention to the important information in the communication packs and keep them for reference. The MPFA, eMPF Company and the contractor will provide comprehensive support services for scheme members, employers, and various stakeholders, including customer service hotline, service centres, self-service kiosks, seminars, and outreach services for employers, to help them understand and use the eMPF Platform. (For more details, please refer to the Appendix.)

Mr Cheng also called for the co-operation of employees and employers throughout the 18-month onboarding schedule. He advised that account information of other schemes which have not yet joined the eMPF Platform will not be available on the Platform and as a result their scheme members and employers would not be able to submit any administration instructions through the Platform. They should wait for their respective schemes to get onboard the Platform before registration.

MPFA Chairman Mrs Ayesha Macpherson Lau said the launch of the eMPF Platform signifies a new digital era for the MPF System. The Platform not only provides substantial benefits for users but also addresses the pain points and inconveniences in managing MPF. 

MPFA Managing Director Mr Cheng Yan-chee reminded scheme members and employers of YF Life and China Life to pay close attention to the important information in the communication packs they receive and keep them for reference.

The three eMPF service centres located in Wan Chai, Tsim Sha Tsui East and Tsuen Wan are expected to start operating on 12 June. 

eMPF kiosks will be set up at the eMPF service centres and the telecommunication stores of the contractor. 

– Ends – 

MPFA
2 May 2024