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How MPF Employee Choice Arrangement works

What is Employee Choice Arrangement?

The Employee Choice Arrangement (ECA) in the Mandatory Provident Fund (MPF), also known as 'semi-portability', started in 2012. It gives employees in Hong Kong more choice. With the ECA, you can move your mandatory MPF contributions from your current employer's scheme to a scheme you choose. This can be done once a year.

If you've moved MPF benefits from previous jobs or self-employment to your current contribution account, you can transfer those benefits as a lump sum to a scheme of your choice through ECA.

How 'semi-portability' helps you

'Semi-portability' gives you more flexibility. It also helps you manage your MPF investments more actively. By March 2025, the Mandatory Provident Fund Schemes Authority (MPFA) reported more than 1 million transfers through 'semi-portability'. These transfers totalled over HKD50 billion.

Benefits of 'semi-portability'

  • Greater control over your MPF investments
    You can choose MPF schemes that fit your investment goals and risk appetite.
  • Enhance investment portfolios
    You can further diversify by investing across different schemes and a wider range of fund types.
  • Boost market efficiency
    'Semi-portability' brings you greater control, leading to better products, services and market efficiency.

What to consider before making a transfer

The ECA is optional and there's no deadline.

Before moving your benefits, take time to compare different products, services and providers. Think about your own needs and any risks. Risks may include the time your money is out of the market during the transfer, and losing a guarantee when you leave a guaranteed fund.

Consolidate your accrued benefits with ease via the HSBC HK App

HSBC made ECA transfers easier on the HSBC HK App in June 2025. Existing HSBC MPF members can now transfer accrued benefits through the ECA to an HSBC MPF personal account with ease.

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Notes:

Investment involves risks. Past performance is not indicative of future performance. The value of financial instruments, in particular stocks and shares, and any income from such financial instruments, may go down as well as up. For further details including the product features and risks involved, please refer to the MPF Scheme Brochure.

 

The content shared in this article should not be viewed as investment recommendation and advice. You should seek professional analysis and advice before making any decisions related to the information shared in this article.