1 million Hong Kong employees to get โfull portabilityโ of MPF funds in December
About 1 million employees in Hong Kong will be allowed to move their entire Mandatory Provident Fund (MPF) balance to a different provider once a year under the โfull portabilityโ arrangement, effective from December 21 for the first phase of implementation. The Mandatory Provident Fund Schemes Authority, which manages the cityโs mandatory pension plans, said on Sunday that the โfull portabilityโ arrangement would be carried out in two phases to ensure a smooth and orderly implementation. In a...