Should MPF Become “Wealth Accounts”?

What’s the idea?

A proposal: turn MPF accounts into “non-withdrawable bank wealth accounts” with full flexibility — full free choice. Contributions land like salary; members move investments freely.

Why won’t the government?

Officials say full portability disrupts employers’ offsetting of severance payments. Critics counter that offsetting itself undermines retirement protection and shouldn’t excuse denying choice. See how limited current choices are on MPF fund comparison.