After years of planning and development, the eMPF platform (“eMPF”) is almost ready to go live. The Government published in the Gazette dated 19 April 2024 the onboarding date for the first 2 MPF schemes - MASS Mandatory Provident Fund Scheme on 26 June 2024 and China Life MPF Master Trust Scheme on 29 July 2024. The tentative onboarding schedule for the other trustees is set out in the table below.
| MPF Scheme(s) | Tentative Onboarding Date |
|---|---|
| BCOM Joyful Retirement MPF Scheme | Q4 2024 |
| SHKP MPF Employer Sponsored Scheme | Q4 2024 |
| BEA (MPF) Value Scheme | Q4 2024 |
| BEA (MPF) Industry Scheme, BEA (MPF) Master Trust Scheme | Q1/Q2 2025 |
| Principal MPF - Simple Plan, Principal MPF - Smart Plan, Principal MPF Scheme Series 800 | Q1/Q2 2025 |
| BOC-Prudential Easy-Choice Mandatory Provident Fund Scheme, My Choice Mandatory Provident Fund Scheme | Q1/Q2 2025 |
| AMTD MPF Scheme, BCT (MPF) Industry Choice, BCT (MPF) Pro Choice, BCT Strategic MPF Scheme, Manulife RetireChoice (MPF) Scheme | Q1/Q2 2025 |
| AIA MPF - Prime Value Choice | Q2/Q3 2025 |
| Sun Life Rainbow MPF Scheme | Q2/Q3 2025 |
| Manulife Global Select (MPF) Scheme | Q3/Q4 2025 |
| Fidelity Retirement Master Trust, Haitong MPF Retirement Fund, Hang Seng Mandatory Provident Fund - SuperTrust Plus, HSBC Mandatory Provident Fund - SuperTrust Plus | Q3/Q4 2025 |
A reminder of what the eMPF is
For employers, the eMPF provides a one-stop platform for members to enroll in their MPF schemes and make contributions anytime and anywhere. As the eMPF is an electronic platform, it greatly reduces paperwork and processes, as well as the potential for human error, thereby enhancing efficiency. This benefit is even more pronounced for employers who offer multiple MPF providers. Employers will have to submit all MPF administration instructions to the eMPF after their MPF scheme has been onboarded on the eMPF platform. The role of the MPF trustees remains unchanged including fiduciary duties, asset custody, investment management and marketing, etc.
Next steps
We recommend you visit the eMPF website to familiarize yourself with the general concept and your role (and that of your employees’) in the eMPF. We would be happy to assist with planning/liaising with your provider, and helping you and your staff to prepare for the introduction of the eMPF.
