If you are an employee, you may opt to transfer your MPF derived from employee mandatory contributions in your contribution account under current employment (Original Scheme) to any other MPF schemes of your choice (New Scheme) once a year1. If your transfer involves selling your interests in a guarantee fund in another MPF scheme, please check the terms and conditions of this fund as failure to fulfil some qualifying conditions may cause the loss of guaranteed returns.
Your contribution account under current employment may consist of different parts of MPF derived from different sources and subject to different transfer rules, as follows:
| Parts of MPF in a contribution account (i.e. Types of contributions that the MPF are derived from) | Transfer rule | Type of account receiving the MPF | |
|---|---|---|---|
| Contributions from current employment | |||
| Employer mandatory contributions | Not transferable | N/A | |
| Employee mandatory contributions | Transferable once every calendar year1 | Personal account | |
| Employer voluntary contributions | Subject to the governing rules of the Original Scheme | Personal account | |
| Employee voluntary contributions | Subject to the governing rules of the Original Scheme | Personal account | |
| Contributions from former employment | |||
| Mandatory contributions transferred to the contribution account under current employment | Transferable at any time | Personal account or other contribution accounts2 | |
| Voluntary contributions transferred to the contribution account under current employment | Subject to the governing rules of the Original Scheme | Personal account or other contribution accounts2 | |
Other types of MPF account:
| Types of MPF account | Transfer rule | Type of account receiving the MPF |
|---|---|---|
| Self-employed person (SEP) | Transferable upon account termination | SEP, personal account or other contribution accounts |
| Personal account | Transferable at any time | SEP, personal account or other contribution accounts |
1 Unless the governing rules of the Original Scheme provide for more frequent transfer-out.
2 Only applies to employees with two or more contribution accounts. If an employee is employed by more than one employer at the same time, he/ she may have more than one contribution account.