Hong Kong eMPF Covers All 24 MPF Schemes: A Guide to Fees and Fund Switching

Twelve trustees, 24 schemes and more than 10 million accounts now sit on one platform. According to Sing Tao Daily, all Mandatory Provident Fund (MPF) schemes in Hong Kong had joined the eMPF Platform by the end of April 2026. The launch event on 9 May 2026 was officiated by Financial Secretary Paul Chan Mo-po.

Lau Mak Ka-hin (劉麥嘉軒), chairman of the Mandatory Provident Fund Schemes Authority (MPFA) and of the eMPF company, described the platform's full operation as marking the arrival of an "e-MPF era" and urged employers and scheme members to register to manage their MPF electronically. What follows sets out the arrangements published by the MPFA and eMPF, with information as of October 2026.

First, see how many accounts you have

Once registered with eMPF, you can use the website or mobile app to see a chart showing how your MPF savings are spread across trustees and schemes. You can also view account balances, investment returns and annual benefit statements.

The MPFA says an eMPF account can be used for life and remains in use after a change of job. If your accounts are scattered, the MPFA's page on MPF transfers says members can consolidate several personal accounts into one trustee and scheme. Members can also submit a designated form to enquire about their account information.

Fees: look at the fund expense ratio

The eMPF FAQ describes fund charges as management fees and recurrent charges, and advises members to read the scheme brochure or use the MPFA's MPF Fund Platform to make comparisons.

According to the Fund Platform, the average fund expense ratios by fund type as at 30 September 2026 were as follows:

• Equity funds: 1.44%
• Mixed assets funds: 1.26%
• Bond funds: 1.17%
• MPF conservative funds: 0.82%

The average expense ratio of equity funds is 0.62 percentage points higher than that of conservative funds. However, the platform notes that some information, including fund expense ratios, is compiled from data for the previous financial period and does not reflect current changes. When comparing, bear in mind that these figures are not real-time.

Switching funds: 4pm is the cut-off

Investment instructions submitted through eMPF, including fund switches, have a cut-off of 4pm on each working day. Saturdays, Sundays and public holidays do not count; instructions submitted after the cut-off or on a non-working day are treated as received on the next working day.

There is still a way to change your mind. Pending fund-switch instructions can be viewed and cancelled under "My Account" > "My Records" in eMPF, generally before the 4pm cut-off on the same day.

On frequency, the eMPF FAQ says fund switching generally has no limit on the number of times, but some trustees may set an annual cap; details are in the scheme brochure.

No limit does not mean you should switch more often. In an article in June 2025, the MPFA cautioned against switching funds frequently because it may mean buying high and selling low; the article also said nearly 80% of such administrative instructions were already submitted electronically.

Transferring trustees: first work out which money it is

Before moving to another trustee, first establish which category your money falls into, because the rules differ. According to the MPFA's page on MPF transfers (revised on 16 October 2026):

• Benefits from an employee's mandatory contributions in current employment: since November 2012, these can be transferred once per calendar year to a personal account under a scheme of the member's choice.
• Employer contributions in current employment: employees who joined on or after 1 May 2025 can transfer once per calendar year after the first phase of "Full Portability" takes effect. The effective date listed on the page is 21 December 2026, but this is subject to the Legislative Council completing its scrutiny of the subsidiary legislation.
• Mandatory contribution benefits transferred into the current contribution account from previous jobs: can be transferred at any time.
• Self-employed person accounts and tax-deductible voluntary contribution accounts: can be transferred at any time.

What happens if you give no instruction within three months of leaving a job

After you leave a job, if your employer has notified eMPF of the termination date and you give no instruction within three months, your MPF is automatically transferred to a personal account in the original scheme and remains invested.

Checklist before you transfer

1. Use the eMPF chart to check all your accounts and confirm which category each benefit falls into.
2. Compare the target funds' expense ratios on the MPF Fund Platform, and note that the data comes from the previous financial period.
3. Read the target scheme's brochure to understand the charges and whether fund switching has an annual cap.
4. Submit fund-switch instructions before 4pm on a working day, then check them under "My Records".
5. For transfers involving employer contributions in current employment, note that the effective date of "Full Portability" is still subject to the Legislative Council completing its scrutiny.

eMPF puts all your accounts on one chart, which makes them easier to check; when comparing funds, it is still worth looking closely at percentages such as expense ratios.

Disclaimer: This article provides general information on Hong Kong MPF arrangements only, as of October 2026. It does not constitute investment advice and does not recommend any fund or trustee. Before making a decision, please read the relevant scheme brochure and consult a licensed professional according to your own circumstances.

Prices and details correct as of October 2026

This article is general information, not investment, tax or insurance advice. Everyone’s circumstances differ; consult a licensed professional before making decisions.