In a blog post, the Hong Kong Mandatory Provident Fund Schemes Authority’s Chairman, Mrs Ayesha Macpherson Lau, reported that the eMPF Platform has operated smoothly for almost a year since launching on 26 June 2024, with MPF trustees onboarded one by one in ascending order of assets under management to support safe data migration and stable operations. Administration fees have fallen as trustees join the platform: the eMPF Platform fee is set at 37 basis points (0.37%), 36% below the 58 basis-point average charged by trustees before onboarding, and is expected to decline gradually to 20 to 25 basis points (0.20% to 0.25%) over a 10-year period, with estimated cumulative savings of HKD 30 billion to HKD 40 billion. The update linked these reductions to the non-profit model and the MPF legislation’s “straight pass-on” requirement, which caps trustee administration fees at the level paid to the eMPF Platform Company. Phase 2 onboarding began in March 2025 and runs through August 2025, bringing several medium-sized trustees and schemes onto the platform; once complete, coverage is expected to exceed 2.7 million member accounts and around 70,000 employer accounts, each representing about 25% of totals. Employer support measures cited include an outreach team that made over 4,000 site visits between June 2024 and May 2025 and three service centres that recorded close to 19,000 visits. The blog flagged phase 3 onboarding as the most challenging stage because it involves the four largest MPF trustees, and noted ongoing platform enhancements and encouragement for employers and members approaching onboarding to register in line with trustee communications.
Hong Kong Mandatory Provident Fund Schemes Authority 2025-06-01
Hong Kong Mandatory Provident Fund Schemes Authority updates on eMPF Platform rollout and administration fee reduction to 0.37%
The Hong Kong Mandatory Provident Fund Schemes Authority reported smooth operations of the eMPF Platform since June 2024. Administration fees dropped to 37 basis points from 58, with further declines expected. Phase 2 onboarding began in March 2025, covering over 2.7 million member accounts and 70,000 employer accounts. Phase 3 will involve the largest MPF trustees and is expected to be the most challenging.