Skip to main content

If you have a number of MPF accounts, you will be receiving letters and documents from different MPF trustees from time to time. The more accounts you have, the more documents you receive. You may find it difficult to handle all these documents and simply leave them unattended! Sooner or later, you will forget how many MPF accounts you hold, not to mention how much money is there in each account, or which funds you have chosen to invest in.

Management of MPF accounts can indeed be made simple. Take the following three steps, and you will be able to consolidate all your personal accounts (Note 1) in one go!

Step 1: Find out the scheme names and account numbers

To consolidate your personal accounts, you must first find out the scheme name and account number of each of your account. You can obtain these two pieces of information via:

  • Documents sent to you by MPF trustees, such as the annual benefit statement, or
  • Check with your MPF trustees, e.g. login your MPF accounts online, or contact your trustees directly (Contacts of MPF trustees)

What to do if I don't know how many accounts do I have?

If you do not know how many accounts you have, or you are unsure which trustees are managing your MPF, download the“Personal Account Information Enquiry Form”, complete and return to Mandatory Provident Fund Schemes Authority (MPFA) by mail or by fax (you can also visit in person). MPFA can tell you how many personal accounts you have, and with which trustees. However, it does not have the account number information. Upon receiving the reply from MPFA, you still have to contact the trustees to check the account numbers.

Step 2: Select trustee and scheme

You can select one preferred trustee and scheme amongst your various personal accounts, so that you can consolidate all accounts into the selected one (Note 2). Consider various factors when you select the preferred trustee/scheme, such as products (scheme and fund), services, fees and personal considerations. You can refer to MPFA Trustee Service Comparative Platform.

Step 3: Fill in the form and submit it to the selected trustee

Next, you can complete the“Scheme Member's Request for Account Consolidation Form”. Need help to fill it out? Worry not. Simply follow the instructions of the sample. Submit the completed form to your selected trustee. After 4-6 weeks, you will receive a “Transfer Statement” from your former trustee and a “Transfer Confirmation” from your new trustee. Verify carefully to ensure information listed is correct. Your consolidation of personal accounts is now complete!

What should I do if I forgot my signature?

Make sure that the signature on the account consolidation form is the same as the one you previously used with the trustees. Otherwise, the consolidation request may not be processed. If you have forgotten or are not sure about the signature, you can check with the trustees. But if you have a number of personal accounts, you may then need to contact different trustees to check the signature.

Instead of doing the checking one by one, some trustees suggest that clients submit a simple signature verification declaration together with the account consolidation form. For example, by providing a photocopy of your identity card with the following statements and your signature:

  • I confirm that the Hong Kong Identity Card/Passport provided is a copy of the original and my signature is my own signature.
  • I request the trustee of any MPF schemes in which I am a member to process the transfer application(s) submitted together with this document.
  • I agree and understand that my signature provided here would be used for the current application(s) only and would not change any of my signature record which I have provided to the MPF trustees previously.

Some trustees provide a sample declaration form to clients. For details, please check with your preferred trustee.

Points to note on consolidating personal accounts

  • No processing fees will be requried for personal account consolidation or transfer of accrued benefits.
  • Consolidation of accounts involve buying, selling and trasferring of accrued benefits. There is usually a time-lag of one to two weeks where your MPF benefits will not be invested. Thus, you may be subject to the “sell high, buy low” or “sell low, buy high” scenarios.
  • If you have selected a "guaranteed fund" in the original scheme, you may not be entitled to the guaranteed rate of return as a result of the transfer of accrued benefits.
  • As you consolidate your accounts, take the opportunity to review the fund choices and see if they are still appropriate. Read our article: Five steps to choosing MPF funds .
  • Next time you take up a new job, remember to take care of your MPF with your former employer. Otherwise, the funds will be transferred into a personal account.

Note 1: If you have not handled your MPF when you changed jobs, your accrued benefits with the former employer will be put under a personal account.

Note 2: Apart from your existing personal accounts, you can also choose to open a new account with another trustee to consolidate all your accounts.