Consolidating your MPF
Streamlining your retirement savings
Most MPF members have more than one personal account and may benefit from consolidating them.
What is an MPF personal account?
After you leave a job, if you do nothing about your MPF account for three months, your assets will be transferred to an MPF personal account under the same scheme and continue to be invested in the same way.
It is recommended that you consolidate your MPF accounts for easier management. By transferring all your MPF assets to a Fidelity MPF account, you can take advantage of our award-winning fund products and services. You can also easily manage your MPF investments through Fidelity Online.
To transfer the MPF assets from your previous job to your Fidelity MPF account, please fill out Scheme Member's Request for Fund Transfer Form.
If you have more than one MPF personal account and would like to consolidate them with Fidelity, please fill out Scheme Member's Request for Account Consolidation Form.
Take more control with Employee Choice Arrangement
Since 1 November 2012, you can take advantage of the Employee Choice Arrangement (ECA), which allows you to, once a year, transfer your MPF assets from your MPF contribution account (employee’s portion only) to a scheme of your own choice. Your future MPF contributions will continue to go into the original scheme.
To transfer your MPF assets from your MPF contribution account to Fidelity, please fill out Employee Choice Arrangement (ECA) - Transfer Election Form.
If you would like to open a Fidelity MPF Personal Account, please fill out Personal Account Membership Enrolment Form.
The process of consolidating your MPF accounts involves the selling of funds from your original MPF account and, with the resultant cash, reinvesting in funds in your new MPF scheme as per your instructions. During this process, there will be a period of time where your MPF assets will not be invested in any fund. As fund prices may change during this period due to market fluctuations, you may be subject to “sell high, buy low” or “sell low, buy high” scenarios.
If you are moving out of a guaranteed fund, please take note of this: a guaranteed fund generally provides a capital guarantee or a minimum rate of return subject to a set of conditions being fulfilled, most commonly a minimum “lock-in period” in which you must invest in the fund. If you move your investment out of such a fund before conditions are met, it may result in losses.
If you have invested in a guaranteed fund, please read through and fill out the Transfer Out of a Guaranteed Fund - Risk Statement Acknowledgement.
For questions regarding the funds and scheme(s), you are advised to contact the relevant service provider(s) and refer to the principal brochure before making any investment decision.