What Are Your 3 Options for Old MPF Accounts?

What three choices do job changers have?

A June 2011 MPFA article set out three options for old MPF money: open a preserved account under a new scheme of your choice; keep a preserved account in the original scheme; or transfer into the new employer’s contribution account. The self-chosen account offers the best-fit funds; staying suits those happy with the original trustee; moving to the new employer’s plan centralises management but locks the money until the next job change.

What about multiple preserved accounts?

Consider consolidating for easier management; check each trustee’s transfer procedures first. Note guaranteed funds may carry lock-in terms — transferring out could forfeit the guarantee.

Lost track of your preserved accounts?

Visit any MPFA office with your ID, or mail/fax form PA-SM with ID copies to the MPFA Kwun Tong office (fax 3146 7367, tel 2918 0102). Compare schemes at MPF fund comparison.