Hong Kong sets December 21 start for MPF Phase One full portability

Hong Kong's Financial Services and the Treasury Bureau has gazetted the commencement notice fixing December 21 as the date the Mandatory Provident Fund Schemes (General) (Amendment) Regulation 2025 takes effect. This piece covers what the regulation allows, who qualifies, and the timeline for the next phase, giving compliance teams the operative date and scope.

• The Commencement Notice appoints December 21 as the date the Amendment Regulation (L.N. 206 of 2025) comes into operation.
• Only employees whose employment commenced on or after May 1, 2025 (New EEs) qualify for Phase One portability.
• Eligible employees may transfer the entire amount of accrued benefits from employer mandatory contributions to a personal MPF account of their own choice.
• Transfers are permitted once every calendar year, or more frequently if the losing scheme's governing rules allow it.
• The government will introduce a Phase Two amendment bill into LegCo by mid-2027 to extend portability to remaining employees.