eMPF Platform Hong Kong | Employer eMPF Register/Open Account/ Preparation | GUM
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What is eMPF Platform?
The MPF system was introduced in 2000 to safeguard the retirement prospects of Hong Kong citizens. Over the past two decades, the MPF system has undergone continuous evolution through the development of schemes and funds, as well as the introduction of initiatives like the Employee Choice Arrangement (ECA) and Tax Deductible Voluntary Contributions (TVC). Now, a major milestone has been reached with the introduction of the eMPF Platform.
The eMPF Platform represents a substantial infrastructure that aims to revolutionize the administrative models of MPF schemes. It achieves this by standardizing, streamlining, and automating existing scheme administrative processes. This platform marks a significant step forward in enhancing the efficiency and effectiveness of managing MPF accounts, ensuring a more seamless experience for both employers and scheme members.How's the current state of MPF scheme administration?
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Each trustee operates their own scheme administration system, resulting in employers and scheme members having to navigate multiple systems and log in separately to access their account information.
Decentralized Administration System
Each trustee operates their own scheme administration system, resulting in employers and scheme members having to navigate multiple systems and log in separately to access their account information.2
The current system relies heavily on paper-based transactions, which are prone to human errors and create a significant amount of paperwork. This not only poses challenges in terms of efficiency but also has negative environmental implications. As highlighted in Legislative Council Paper CB(1)309/18-19(04), over 100,000 paper transactions are processed daily, and there is a reliance on bulk cheques for contributions.
Paper-Intensive Processes
The current system relies heavily on paper-based transactions, which are prone to human errors and create a significant amount of paperwork. This not only poses challenges in terms of efficiency but also has negative environmental implications. As highlighted in Legislative Council Paper CB(1)309/18-19(04), over 100,000 paper transactions are processed daily, and there is a reliance on bulk cheques for contributions.Key Benefits of the eMPF Platform
Based on the MPF Scheme Statistical Summary as of September 30, 2023, provided by the Mandatory Provident Fund Schemes Authority (MPFA), the eMPF platform Hong Kong is expected to encompass approximately 11 million accounts. This includes:
357,000
employers
4.69 million
scheme members
4.69 million
scheme members
12 scheme
administration systemsWith the launch of the eMPF platform Hong Kong, it hopes to:
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The eMPF platform aims to establish consistent standards and simplify complex administrative procedures, enabling a more uniform and streamlined approach across MPF schemes. Through automation of routine tasks such as contribution handling, withdrawal processing, and compliance reporting, the platform reduces paperwork, minimizes human errors, and prevents inadvertent delays or default contributions.
Enhance Efficiency and Effectiveness in Scheme Administration
The eMPF platform aims to establish consistent standards and simplify complex administrative procedures, enabling a more uniform and streamlined approach across MPF schemes. Through automation of routine tasks such as contribution handling, withdrawal processing, and compliance reporting, the platform reduces paperwork, minimizes human errors, and prevents inadvertent delays or default contributions.2
The eMPF platform covers a wide range of administrative tasks, ensuring a holistic approach to scheme administration. This includes managing contributions, facilitating withdrawals, generating reports, and ensuring compliance with regulatory requirements.
Provide comprehensive Coverage of Administrative Processes
The eMPF platform covers a wide range of administrative tasks, ensuring a holistic approach to scheme administration. This includes managing contributions, facilitating withdrawals, generating reports, and ensuring compliance with regulatory requirements.By implementing the eMPF Platform, MPF schemes can achieve greater operational efficiency, reduced administrative burden, and an improved participant experience through the standardized, simplified, and automated management of key processes.
Employers, Employees, Trustees, and the MPFA can all Leverage the Advantages of the eMPF Platform
Employers
and Self-employed Persons
Employees
Trustees
MPFA
One-stop for enrollment and contributions
Reduction of paperwork and human errors
Reminders of contribution due dates
Ability to operate anytime, anywhere
One-stop handling of all MPF accounts
Creation of room for fee reduction
Ability to operate anytime, anywhere
Real-time viewing of all accounts
Standardization, streamlining, and automation of scheme administration
Reduction of administrative burden, associated compliance burden, and costs
Improvement of reliability and accuracy in the MPF system and facilitation of enforcement actions
Paving the way for future reform initiatives
Milestone for the eMPF Platform Implementation
2022 | Phase 1 – Kickstart
• Establishment of eMPF Platform Company Limited.
• Commencement of operations for eMPF Platform Data Centres and Facilities.2023 | Phase 2 – System Ready
• User Acceptance Test
• Technical, Business, and Function testing
• Hard deadline for completion of system setup by the end of 20232024 | Phase 3 – Promotion and communication
• Launch of marketing promotional campaign for the eMPF platform in Hong Kong
• Trustees will share communication packs with members in phases2025 | Phase 4 – Phase 4 – Onboarding by all MPF Schemes and communication
• Gazettal of legal notices for launching the eMPF Platform and onboarding of MPF trustees
• Data migration to the eMPF Platform
• Sequential and orderly onboarding of MPF Trustees and schemes to the platform
• Operation of three eMPF onsite service centres
• Ongoing promotion of eMPF onboard schedule by different providers
• Employer eMPF register on the platform
• All trustees are supposed to be onboarded and the eMPF Platform aims to be fully functional by 2025Employer eMPF Journey
Curious about what challenges you, as an employer, may encounter with the eMPF platform? Take a look at the employer eMPF journey below and consider these questions to assess your readiness for onboarding:1
Hong Kong Government Gazette and Communication Pack
For the employer eMPF journey, the first thing is you may be aware that the HK Government will publish a gazette containing the schedule for each trustee's onboarding to the eMPF Platform. Trustee organizations will share a comprehensive communication pack with their clients, including employers. This pack will provide detailed information about the onboarding process, including employer and employee eMPF open account.
Would you choose to queue and submit form or directly contribute via the employer eMPF platform?
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Trustees will organize mass briefings and webinars to educate employers about the eMPF Platform and its functionalities. These sessions will help facilitate employer eMPF understanding on the onboarding process and equip them with the necessary knowledge to navigate the employer eMPF platform effectively.
Mass Briefings and Webinars
Trustees will organize mass briefings and webinars to educate employers about the eMPF Platform and its functionalities. These sessions will help facilitate employer eMPF understanding on the onboarding process and equip them with the necessary knowledge to navigate the employer eMPF platform effectively.3
eMPF Open Account
Employers can open account for eMPF during the period from before the trustee's onboarding time until the trustee is successfully onboarded onto the employer eMPF Platform. However, employers will only be able to access the MPF scheme and perform actions once the trustee is onboarded.
When do you intend for eMPF open account?
Have you prepared the necessary documents for eMPF register?
Have you made the necessary arrangements or decisions for eMPF register?
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Monthly Contribution and Payment
On the 10th of each month, subject to the contribution date set by the MPFA, employers are required to make their contributions and payments on time.
Have you made the necessary preparations for the transition to eMPF?
Methods for Contribution and Payment (Show Details)
In case of any technical issues related to eMPF register, account setup or contribution submission, employers can seek assistance by submitting a hard copy form to the eMPF service center. The service center will provide support and guidance to address any challenges faced by employers.
MPF Trustee Onboarding Schedule for the eMPF platform
The MPFA aims to complete the onboarding of all MPF schemes to the eMPF platform by 2025.2024
2024 Q3
2024 Q4
1. YF Life Trustees Limited (26 Jun)2. China Life Trustees Limited (29 Jul)
1. Bank of Communications Trustee Limited (3 Sept)2. Standard Chartered Trustee (Hong Kong) Limited (2 Oct)3. Bank of East Asia (Trustees) Limited (“BEA”) – BEA (MPF) Value Scheme (29 Oct)
2025
2025 Q1/Q2
2025 Q2/Q3
2025 Q3/Q4
1. BEA – BEA (MPF) Industry Scheme and BEA (MPF) Master Trust Scheme2. Principal Trust Company (Asia) Limited3. BOCI-Prudential Trustee Limited4. Bank Consortium Trust Company Limited
1. AIA Company (Trustee) Limited2. Sun Life Trustee Company Limited
1. Manulife Provident Funds Trust Company Limited2. HSBC Provident Fund Trustee (Hong Kong) Limited
*Gazettal of legal notices for onboarding of second batch of Mandatory Provident Fund schemes to eMPF Platform – 24 May 2024
Function Overview
The eMPF platform, as a consolidated platform, aims to support both employers and members in managing their MPF accounts, enabling them to conduct various tasks such as eMPF open account, contributions, and fund switching all in one centralized location.Employer eMPF Portal
Account Registration
& Enrolment
Contribution
MPF Account Management
Notices, Documents
and Reports
• Employer eMPF Registration• Scheme Enrolment• Scheme Enrolment
• Calculate and submit contribution• Rectify the default contribution
• Scheme Transfer• Add new employee• Cease employment of employee• LSP/SP offset
• Notices and Documents
Employer eMPF Open Account
Starting from 12 Jun, employers and employee can start to work on the eMPF register.
For employer eMPF register, it involves preparing supporting documents, registering each company separately and activation etc. If an authorized person is registered to manage the MPF accounts for multiple companies, they can access and oversee the MPF schemes of all those companies through a single login.The key things should know for employer eMPF open account are as follows:
eMPF Open Account Key Point 1 - Company Registration
Employers must register each of their companies individually on the employer eMPF platform Hong Kong. This ensures that the MPF accounts for each entity are properly set up and linked to the appropriate employer.eMPF Open Account Key Point 2 - Authorized Person:
Employers can designate an authorized person who will be responsible for managing the MPF accounts on the company's behalf. This authorized person will be able to access and administer the MPF schemes for all the companies they are registered to handle.eMPF Open Account Key Point 3 - Preparing the Necessary Documents:
To complete the employer eMPF register, employers will need to gather and provide detailed information about their company, as well as upload the relevant supporting documents. The required documents includes Business Registration Certificate, Partnership Deed (if applicable), Certificate of Incorporation, and written authorization for the designated authorized person(s), etc.
Ensuring that these documents are readily available and up-to-date will facilitate a smooth employer eMPF register experience. The eMPF platform Hong Kong will require this information to properly set up the company's MPF account and authorize the appropriate personnel to manage the account on the employer's behalf.eMPF Open Account Key Point 4 - Single Login Access:
Once the authorized person is registered, they can log in to the employer eMPF platform using a single set of credentials. This allows them to seamlessly navigate and manage the MPF accounts for all the companies under their purview, streamlining the administrative tasks related to MPF for employers with multiple entities.
By leveraging the employer eMPF platform, they can centralize the management of their MPF schemes, leading to greater efficiency and convenience in fulfilling their responsibilities as MPF contributors.
It's important to note that the employer eMPF platform will only display the MPF schemes that have been onboarded to the new platform. Employers will be able to manage those onboarded schemes through the employer eMPF platform.However, any MPF schemes that have not yet been onboarded to the employer eMPF platform will remain with their existing trustees and will not be visible or accessible through the employer eMPF platform. These schemes can only be managed through the existing channels until their onboarding date, which will be announced by the government in the official gazette at a later time.
This means that employers will need to maintain separate processes for managing their onboarded and not-yet-onboarded MPF schemes until the full migration to the employer eMPF platform is complete.
Employer eMPF Preparation
The development and testing phases of eMPF have been successfully completed, and the platform is now transitioning towards the public promotion and trustee onboarding stage. During the initial two years of platform implementation, challenges are anticipated, and stakeholders may need time to adjust. In order to effectively prepare for the eMPF changes, employers should concentrate on the following key areas for the employer eMPF module:1
The timeline for eMPF onboarding is tight, so employers must stay vigilant and keep up-to-date with the latest changes and updates. This includes familiarizing themselves with the eMPF register process for employer accounts on the platform, understanding the required supporting documents, and ensuring the appropriate authorized personnel are set up at the company, scheme, and payroll group levels.
Stay Informed and Aware of the Onboarding Schedule
The timeline for eMPF onboarding is tight, so employers must stay vigilant and keep up-to-date with the latest changes and updates. This includes familiarizing themselves with the eMPF register process for employer accounts on the platform, understanding the required supporting documents, and ensuring the appropriate authorized personnel are set up at the company, scheme, and payroll group levels.2
Employer eMPF Open Account
The employer eMPF register process involves several key steps. First, employers will need to do the eMPF register with their company information, including business registration details and authorized signatories.Read More
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Assess Your HR and Payroll Systems
After the eMPF register, a key preparatory step for employer eMPF arrangement is to review their existing HR and payroll systems to ensure compatibility with the eMPF platform. This may involve working closely with payroll providers to confirm the capability to seamlessly integrate with eMPF. Employers should also be aware of the specific IT requirements for data exchange, such as the ability to upload employee data in Excel format or conduct necessary data integration testing.Read More
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Revisit Your Current MPF Scheme and Processes
The launch of eMPF presents an opportunity for employers to revisit and optimize their current MPF schemes. This includes reviewing the rules and fee structures of any voluntary contribution (VC) schemes, as well as ensuring that existing processes for employee enrollment, termination, and fee rebates can be smoothly mirrored on the new platform.Read More
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Prepare for Employee Support and Education
As the eMPF changes are implemented, employers must ensure that their employees are well-informed and prepared. This may involve conducting training sessions, creating informative materials, and setting up channels for employees to seek assistance or ask questions such as about the eMPF register. By proactively supporting their workforce, employers can help ease the transition and empower their staff to navigate the new platform effectively.Read More
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Engage with Service Providers and Consultants
To ensure a comprehensive understanding of the eMPF platform and its implications, employers should actively engage with service providers and consultants. These experts can provide valuable guidance on navigating the intricacies of the platform, identifying potential impact areas, helping on eMPF register and facilitating a smooth transition process for the organization.Read More
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The Importance of Pension Cost Optimization
With pension costs accounting for a significant portion of total employee benefits, estimated at around 60% according to GUM Employee Insurance Benefits Research 2023, employers should focus on optimizing these costs. The eMPF platform facilitates this optimization by simplifying the selection of the right MPF service provider, allowing employers to carefully evaluate and choose the most suitable options for their workforce.Read More
GUM as Your eMPF Partner
Our Edges
MPF ExpertWe have earned the trust of over 900 clients through its unrivalled industry expertise, in-depth analysis, and unbiased advice. With over HKD10 billion in assets under advisory and an annual contribution of HKD1.2 billion, Our scale and proven track record make it an ideal partner for managing your MPF, and our expertise in MPF will help you seamlessly transit to the eMPF platform.Read More
Employee Engagement ExpertWe consistently conduct member briefings and offer one-on-one onsite/online member support. By focusing on investor education and insurance planning, GUM empowers its clients to make the most informed decisions about their retirement savings.Read More
Strong relationship in the MPF industryGUM maintains strong connections across the industry, including regulators and providers. We keep staying at the forefront of MPF developments and easily facilitate information exchange between all relevant parties.
Our eMPF Services
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Dedicated Expert Assistance
A dedicated expert will be provided to guide you through the entire eMPF platform onboarding process. Our specialist will assist you in navigating the technical and administrative aspects of the eMPF system, answering any questions you may have. Services include eMPF open account, recommending authorized users and access levels, facilitating the transition to the new contribution method, and providing training on enrollment and employee termination procedures.Read More
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GUM will provide a detailed guideline outlining the required changes to be implemented on the eMPF platform. This comprehensive code book will serve as a valuable resource, equipping your team with the knowledge and understanding needed to successfully complete the eMPF open account and onboard the eMPF system.
eMPF Code Book
GUM will provide a detailed guideline outlining the required changes to be implemented on the eMPF platform. This comprehensive code book will serve as a valuable resource, equipping your team with the knowledge and understanding needed to successfully complete the eMPF open account and onboard the eMPF system.3
We will review your current VC scheme rules and provide the latest list of acceptable VC according to the eMPF platform requirements, facilitating you to mirror the scheme rule to the eMPF platform.
Voluntary contributions (VC) handling
We will review your current VC scheme rules and provide the latest list of acceptable VC according to the eMPF platform requirements, facilitating you to mirror the scheme rule to the eMPF platform.4
Effective communication is crucial during this transition. GUM will conduct informative sessions to clearly explain the eMPF arrangement changes and eMPF open account steps to your employees. This will help ensure your workforce is well-informed and engaged throughout the onboarding process, minimizing disruptions and facilitating a seamless adoption of the new system.
Employee Briefing
Effective communication is crucial during this transition. GUM will conduct informative sessions to clearly explain the eMPF arrangement changes and eMPF open account steps to your employees. This will help ensure your workforce is well-informed and engaged throughout the onboarding process, minimizing disruptions and facilitating a seamless adoption of the new system.As the eMPF system ushers in a new era of pension administration in Hong Kong, it is crucial for employers to proactively prepare for this transition. However, navigating the complexities of eMPF onboarding can be daunting, especially for employers with limited resources or experience in pension scheme management. We are here with you - our dedicated experts will guide you every step of the way, from eMPF open account to team training on the new enrollment and contribution procedures. Our tailored solutions and hands-on support will empower you to navigate this transition seamlessly, allowing you to focus on your core business operations while we handle the eMPF-related complexities on your behalf.
Having concerns on the eMPF preparation timeline? Not sure about how to work on the eMPF open account? Reach us now for more details about the eMPF platform and our solutions!Frequently Asked Questions (FAQ)
1. Do I need to transfer the existing MPF accounts of my employed staff to the eMPF platform, or should I help them on eMPF open account?
2. When should I start using the eMPF platform and work on eMPF open account?
3. What will be the role and obligations of employers regarding MPF once the transition to the eMPF platform is made?
4. What are the important factors to consider when working on the eMPF open account?
5. Will there be any differences in the enrollment procedures compared to the current MPF system?
6. How will the responsibilities of trustees change with the introduction of the eMPF platform?
7. What is the process for employers to transfer their MPF scheme during the onboarding period?
8. Will employers still be responsible for obtaining necessary information from employees during the 60-day enrollment period for setting up MPF accounts?
9. Can the eMPF platform handle LSP/SP offset?
10. Does eMPF platform support ORSO scheme?
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