6 June 2025
On a recent trip, Mr. MPF and his family planned to enjoy a relaxed Sunday lunch at home. However, with an empty fridge, Mr. MPF headed out to shop, only to discover that staying in a small Swiss-Italian border town made grocery shopping far from simple. Fresh meat came from the local butcher, vegetables were sourced at the farmers’ market, drinks were picked up from a bottle shop, and dessert was a scoop of gelato from the local shop—after driving to the next town and spending nearly an hour searching for a parking spot. Four different shops, hours of effort, and plenty of hassle.
Sure, a supermarket might have solved the problem, but it was closed on Sundays. If only we had planned the meal for Saturday instead—it would have been so much easier. One store, one trip, less time, less stress, and more savings. This experience is a perfect analogy for MPF members: consolidating your MPF accounts works the same way. It simplifies everything.
Keeping things simple and efficient.
What is MPF Fund Consolidation?
MPF fund consolidation allows members to combine multiple MPF accounts into a single account for easier management.
When you leave a job, your employer’s MPF contributions are moved from your “Contribution Account” to a “Personal Account” by their MPF provider. The good news is that your MPF stays safe and fully yours, even when you change employers.
However, the not-so-good news is that your new employer may use a different MPF scheme provider. If that’s the case, you’ll end up with a new “Contribution Account” under the new provider, while your previous employer’s provider maintains your old “Personal Account.”
Over time, as jobs change, this process can leave you with multiple “Personal Accounts” across various providers. This creates more paperwork, more investment decisions, higher administrative burden, and potentially greater costs.
Consolidating your MPF accounts into one is like shopping at a single store—efficient, cost-effective, and stress-free. Why not simplify your financial future today?
Consolidating MPF accounts with one or two providers simplifies and streamlines the management of investment and retirement savings. This approach not only makes tracking contributions easier but can also help reduce overall costs. It’s a straightforward and practical step that Mr. MPF recommends as a top priority for members, particularly when transitioning to a new job.
I don’t know how many MPF accounts I have or where my MPF money is.
Fear not! If you’ve lost track of your MPF accounts, the MPFA (Mandatory Provident Fund Schemes Authority) has you covered. According to the MPFA, you can use the “E-enquiry of Personal Account (ePA)” service on their website or mobile app to check your account details. It’s as simple as asking a supermarket service counter for directions to the cheese aisle.
So which MPF scheme would Mr MPF personally choose to consolidate his MPF accounts?
What should you consider when choosing an MPF provider to consolidate your accounts?
Consolidating your MPF accounts is an important responsibility, and while it can feel overwhelming, MPF providers are eager to win your business and often offer promotions to attract you. To ensure you make the best choice, here are key factors to look for:
1. Gold rated MPF schemes
Look for schemes that have earned a Gold rating from MPF Ratings, the only independent provider of MPF research and education. A Gold rating reflects exceptional value across all key areas, including performance, fees, and more.
2. Online account management
In today’s fast-paced world, the ability to create and manage accounts online is essential. Streamlined processes and minimal paperwork make managing your MPF accounts much easier.
3. High-quality educational resources account management
Good education empowers informed decisions. Choose a provider that offers clear and accessible resources to help you confidently navigate your MPF options.
4. A diverse selection of fund choices
A comprehensive range of investment funds is crucial, especially in today’s unpredictable financial environment. A broad selection allows you to align your investments with your savings, risk tolerance, and retirement goals. Fun Fact: Manulife provides 29 constituent funds, managed by a variety of fund managers, to meet the diverse needs of its members. It’s similar to a supermarket offering both its own house brands alongside specialty brands, ensuring something for everyone.
Consolidating your MPF accounts doesn’t have to be daunting. By focusing on key factors, you can make an informed decision that sets you up for a secure financial future.
Everyone’s personal needs and objectives vary, so it’s always a good idea to seek advice from a professional advisor. That said, some MPF schemes stand out, and Manulife is a great example of what to look for when consolidating your MPF accounts.
Manulife is offering attractive incentives, to mark its nearly 90 years of pension management in Hong Kong (until June 30th, 2025). These include one-time rebates—based on your accrued MPF benefits, you could receive up to HK$90,000—and a lucky draw with total prizes worth up to HK$900,000, depending on your accrued benefits.
So, good luck! And remember, fund consolidation is a lot like grocery shopping—it may not be the most exciting task, but it’s something you need to do. Make it easier on yourself by consolidating everything in one place to save time, money, and effort. It’s the smart choice. And if you’re unsure about anything, just ask for help—there’s always someone ready to guide you.
This article was written by MPF Ratings, Hong Kong’s independent provider of MPF research, views, and education. The information in this blog is general in nature and does not consider your personal situation. You should assess whether the information meets your needs and, where appropriate, seek professional advice from a financial adviser.
