MPFA Website Crashes on Semi-Portability Day One: Where Else to Get the Transfer Form?

This article is a rewrite of a report from November 2012.

On 1 November 2012 — day one of the MPF Employee Choice Arrangement — eager workers went online for transfer information, only to find the MPFA website down: unreachable through the morning, intermittently back at midday but still slow, fully normal only by 3pm. Day one’s lesson: never rely on a single channel for critical forms.

How many MPF transfer forms are there? Don’t mix them up

Two — not interchangeable. Form MPF(S)-P(P) is for “semi-portability” transfers — moving current-employment MPF money requires the P form; form MPF(S)-P(M) is only for old accounts with no new contributions (“ghost accounts”). Wrong form means wasted effort.

How long is the P form, and how much do you submit?

Ten pages — submit only the second half. The first six pages introduce how “semi-portability” works; the real P form is the last four. Hand only the latter half to the new trustee. Separately, unless you already hold an account with your chosen trustee, fill in that scheme’s account-opening form too — even switching schemes within the same trustee requires fresh opening and transfer forms.

With the website down, where else could you get the form?

Straight from your chosen provider. MPFA staff advised at the time: getting it from the provider is easier, as forms come pre-filled. But on day one in 2012, many providers’ websites (HSBC, Hang Seng, BOC-Prudential, Standard Chartered, AIA) still hadn’t uploaded the new P form — only the old M form. Sluggish providers lost points at the very first hurdle.

How does the transfer process work?

New trustee verifies details, forwards to the old trustee for re-verification, old trustee sells fund units for cash, cheques the proceeds to the new trustee, who buys units per your fund choices. Six to eight weeks in total. Day one’s chaos in 2012 made the point: allow ample time for transfers — don’t leave it to the last minute.