Changing Jobs? Preserved vs Contribution Accounts Explained

What’s the difference between preserved and contribution accounts?

When you change jobs, your old MPF account becomes a preserved account with no new contributions, while the new job’s contributions go to a contribution account — fees and investment options can differ entirely. A job move is the ideal moment to review accrued benefits and keep retirement savings growing.

What should you do with the old account?

Members can consolidate preserved accounts with a preferred trustee to avoid duplicated fees. Before transferring, compare trustees’ fund ranges and charges to find the best fit.