Discretionary Channel

MPF ‘Employee Choice Arraengment’ (ECA) has been implemented on 1 November 2012, the details is as follows:

    §  ECA allows employees to transfer the accrued benefits from the mandatory contributions made by them during current employment and held in a contribution account under an MPF scheme (i.e. original scheme) to a trustee and a scheme of their choice (i.e. new trustee and new scheme). Such transfer can be carried out on a lump-sum basis once¹every calendar year².  

    §  If employees have transferred the accrued benefits which relate to previous employment or self-employment to their current contribution account, they can also transfer those benefits in a lump-sum to a trustee and scheme of their own choice at any time.  

    §  Employees wishing to transfer their accrued benefits should contact the new trustee directly. The transfer does not need to be arranged through their employers.  

Type of Accrued Benefits in Contribution Account	Before ECA	After ECA
Employer Mandatory Contributions	Not Transferable	Not Transferable
Employee Mandatory Contributions		Transferable in a Lump-sum Once1 Every Calendar Year2
Mandatory Contributions Accrued during Former Employment or Self-Employment	Not Transferable Again	Transferable in a Lump-sum at Any Time

¹Unless the governing rules of the original scheme provide for more frequent transfers.

²Calendar year means the period from 1 January to 31 December in any given year.

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