MPFA Chairman Explains the First Phase of Full Portability of MPF Benefits

In a blog post, the Chairman of the MPFA noted that the government has gazetted that the first phase of full portability of MPF benefits will take effect on December 21, 2026, covering approximately 1 million employees who start or change jobs on or after May 1, 2025. Upon implementation of the first phase, eligible employees may, once a year, transfer the full amount of both employer and employee mandatory contributions, or either portion separately, to a personal account in a self-selected MPF scheme, while the employer contribution channel remains unchanged.