Hong Kong's Financial Services and the Treasury Bureau has gazetted a set of legal notices to support the onboarding of Mandatory Provident Fund (MPF) industry schemes to the eMPF Platform and to bring parts of the Mandatory Provident Fund Schemes (Amendment) Ordinance 2021 into operation. The package sets the dates from which two trustees must perform scheme administration through the platform and make related fee reductions, while also commencing provisions intended to streamline inter-trustee transfers and introduce a new central register. For mandatory platform use, “material day” is set as March 26, 2026 for the BCT (MPF) Industry Choice administered by the Bank Consortium Trust Company Limited and April 30, 2026 for the BEA (MPF) Industry Scheme administered by Bank of East Asia (Trustees) Limited. For fee control, “material day” is set as June 26, 2026 and July 30, 2026 respectively for the constituent funds of those schemes, triggering mandated fee reductions for scheme members. Separately, sections 80, 100 and 106 of the Amendment Ordinance 2021 will commence on April 30, 2026 to streamline transfers of accrued benefits between trustees, while remaining provisions specified in section 1(3)(b) will commence on October 5, 2026, requiring the eMPF Platform Company Limited to maintain a new central register and repealing the existing registers on personal accounts and unclaimed benefits maintained by the Mandatory Provident Fund Schemes Authority. The Bureau also flagged expected fee reductions for over 10 million members once all schemes are onboarded and pointed to further reform work, including the Phase One proposal on MPF “Full Portability” for which legislative amendments were completed last year. The legal notices will be tabled at the Legislative Council for negative vetting on January 28, 2026.
Financial Services and the Treasury Bureau (Hong Kong) 2026-01-23
Hong Kong's Financial Services and the Treasury Bureau gazettes mandatory eMPF use and fee reduction dates for BCT and BEA MPF industry schemes
Hong Kong's Financial Services and the Treasury Bureau has issued legal notices to facilitate the onboarding of Mandatory Provident Fund (MPF) industry schemes to the eMPF Platform, setting specific dates in 2026 for mandatory platform use and fee reductions. Provisions to streamline inter-trustee transfers and establish a new central register will commence, with the legal notices to be tabled for negative vetting on January 28, 2026.