eMPF Platform Fully Operational: All 12 Trustees Integrated, Admin Fees Halved to 0.29%

HONG KONG — MPFA Chairman Alice Law announced on May 3 that the eMPF Platform has officially completed its nearly two-year migration, successfully integrating the administrative systems of all 12 MPF trustees into a single electronic platform. Law described this as the most significant reform since the MPF System’s inception in 1995.

5 Million Members, HK$1.5 Trillion Assets Under One Platform

The eMPF Platform now handles MPF scheme administration for approximately 5 million scheme members, 300,000 employers, 11 million accounts, and over HK$1.5 trillion in retirement savings. All 12 trustees have completed their system migration, meaning all MPF schemes are now fully connected to the eMPF.

Admin Fees Continue to Drop: 0.58% → 0.29%

As the platform’s economies of scale take effect, MPF administration fees continue to decline. The average fee has dropped from 0.58% under trustees’ previous systems to the current 0.29% — a 50% reduction. Law indicated that as more users adopt digital methods via eMPF, fees could potentially fall further to the 0.2% to 0.25% range.

HK$50 Billion in Savings Over 10 Years

Law expressed confidence in the eMPF’s long-term benefits, projecting cumulative administrative savings of HK$50 billion for members over 10 years. These fee reductions will directly benefit all MPF scheme members, ultimately enhancing their retirement savings.

Enhanced Services: Extended Weekend Hours

To support the full rollout, the three eMPF Service Centres will extend Saturday service hours starting mid-May, with new Sunday service sessions and increased appointment quotas. Additionally, the eMPF team has established registration and enquiry counters at multiple MTR stations, providing outreach support for construction and catering industry workers.

Industry Outlook: The full implementation of eMPF marks a new digital era for Hong Kong’s retirement protection system. With continued reduction in administrative costs, fund management fees are expected to face downward pressure, ultimately making every dollar of employees’ contributions more efficiently converted into retirement savings.