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The eMPF offers tremendous benefits – but when should you register?

In previous issues, we introduced the wide range of benefits to be brought by the eMPF Platform (the eMPF)., While you may want to enjoy those benefits as early as possible, there is no reason to rush. MPF schemes will be joining the eMPF one by one in ascending order in accordance with the size of MPF assets under management by the trustees. Currently, there are 24 MPF schemes with MPF accounts amounting to over 11 million. Onboarding the MPF one scheme at a time can ensure a smooth and orderly onboarding process, and minimize any chaotic situation if all 360,000 employers and 4.75 million scheme members are to be registered in a big bang approach.

 

When should you register for the eMPF?
The onboarding dates of each MPF scheme are different. The first two trustees completed the onboarding process on 26 June and 29 July respectively. When is the best time for scheme members and employers to register for the eMPF? The optimal time is two to three weeks prior to the onboarding date of the MPF scheme in which you are enrolled. 

 

It is important to note that registration for the eMPF too early may result in your MPF account information not being available on the eMPF yet. Therefore, we recommend scheme members and employees time their eMPF registration according to the onboarding schedule to fully capitalize on the new functions and benefits of the eMPF.

 

You can stay informed of the onboarding timetable of MPF schemes through the following channels:

 

1. Announcement from your trustee
Trustees that are nearing their onboarding dates will distribute communication packs to their scheme members and employers two to three months in advance. These packs will provide the key date of data migration and other relevant information. If you receive the communication pack, be sure to review it carefully to understand the eMPF and register at the appropriate time. 

 

2. eMPF website
Please check the “Latest Schedule for MPF Scheme and Trustee Onboarding to the eMPF Platform” on the eMPF official website to get the exact date of onboarding of your MPF scheme. 

 

The MPFA urges employees and employers to wait patiently for the announcement by the authorities and the trustees. Your cooperation during the onboarding schedule is much appreciated.