Information Centre

The trend of digitalization is irreversible. In recent years, all financial institutions have sought to provide digital services and platforms for their customers to manage their financial matters more efficiently and conveniently.  As the development of FinTech has become more mature, and the use of digital tools has more prevalent among the public, the MPF System is also keeping up with the times and moving towards a new digital era for the MPF.

The passage of the Mandatory Provident Fund Schemes (Amendment) Bill 2021 by the Legislative Council in October provides the legal basis for the designation of the eMPF Platform as the common gateway for scheme administration processes in the MPF System. The eMPF Platform aims to standardize, streamline and automate the administration processes of MPF schemes, thereby creating further room for fee reductions, which will benefit MPF scheme members directly.  In the first two years after the implementation of the eMPF Platform, an average reduction of about 30% in the scheme administration fees payable by scheme members is expected. The project is estimated to achieve cumulative administration cost savings of $30 billion to $40 billion over a 10-year period.

Moreover, the eMPF Platform is a one-stop, user-centric digital platform commonly used by scheme members, employers, trustees and service providers to handle MPF matters, from consolidation of MPF accounts, to making MPF contributions, managing MPF portfolios and reviewing investment performance. With one single log-on, scheme members will be able to easily manage their MPF accounts wherever and whenever they want.

The Government, the MPFA and eMPF Platform Company are working at full steam to build the eMPF Platform, which will be completed by the end of 2022 at the earliest.   Subject to the orderly transition starting in 2023, the eMPF Platform will come into full operation in early 2025 at the earliest. In anticipation of the eMPF Platform era, the MPFA encourages employees and scheme members to go digital as soon as possible.