The Employee Choice Arrangement (ECA) in the Mandatory Provident Fund (MPF), also known as 'semi-portability', started in 2012. It gives employees in Hong Kong more choice. With the ECA, you can move your mandatory MPF contributions from your current employer's scheme to a scheme you choose. This can be done once a year.
If you've moved MPF benefits from previous jobs or self-employment to your current contribution account, you can transfer those benefits as a lump sum to a scheme of your choice through ECA.
'Semi-portability' gives you more flexibility. It also helps you manage your MPF investments more actively. By March 2025, the Mandatory Provident Fund Schemes Authority (MPFA) reported more than 1 million transfers through 'semi-portability'. These transfers totalled over HKD50 billion.
The ECA is optional and there's no deadline.
Before moving your benefits, take time to compare different products, services and providers. Think about your own needs and any risks. Risks may include the time your money is out of the market during the transfer, and losing a guarantee when you leave a guaranteed fund.
HSBC made ECA transfers easier on the HSBC HK App in June 2025. Existing HSBC MPF members can now transfer accrued benefits through the ECA to an HSBC MPF personal account with ease.
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Investment involves risks. Past performance is not indicative of future performance. The value of financial instruments, in particular stocks and shares, and any income from such financial instruments, may go down as well as up. For further details including the product features and risks involved, please refer to the MPF Scheme Brochure.
The content shared in this article should not be viewed as investment recommendation and advice. You should seek professional analysis and advice before making any decisions related to the information shared in this article.
