About one million employees will gain greater control over their retirement savings when the first phase of MPF full portability begins on 21 December 2026, the Mandatory Provident Fund Schemes Authority says.
The arrangement will cover employees who entered the workforce or changed jobs on or after 1 May 2025. Eligible members will be able to transfer savings derived from both employee and employer mandatory contributions to a personal account in an MPF scheme of their choice once per calendar year. The two portions may also be transferred separately.
Employers will continue paying contributions through their existing participating schemes.
Eligible members can initiate their 2026 transfer between 21 and 31 December, with a further annual transfer available from 1 January 2027. The MPFA urged members to compare fees, fund choices and performance carefully and avoid unnecessary transfers.
References: MPFA announcement, 25 October 2026.
