eMPF launches one-stop account checking service

The eMPF Platform launches a one-stop service for checking Mandatory Provident Fund account details.

A lawmaker says this will speed up the process for citizens to withdraw their MPF, but reminds authorities to ensure security measures are in place.

Most workers contribute to the Mandatory Provident Fund.

As of the end of June, there are nearly 5 million MPF members in Hong Kong with more than 10 million accounts, as some people is enrolled in more than one scheme.

Hong Kong Island East lawmaker Elaine Chik says she has been helping the elderly withdraw from their MPF accounts since her time as a district councillor.

She says the previous process was complicated, often taking at least two months to check multiple accounts and fill out forms from different companies.

The MPF Schemes Authority simplifies the process by launching an enquiry service.

It allows scheme members, authorised persons, or estate representatives of deceased individuals to apply through the eMPF Platform.

They can check all account numbers and balances at once, instead of asking each company.

Authorised persons must submit an authorisation form and identity documents.

Applications involving estates require legal documents like a probate or a letter of administration.

Insurance consultant Law Siu-hung says the new platform boosts efficiency, cutting a process that used to take a month down to a single day.

The authority says it will ensure security by sending confirmation emails and SMS messages to scheme members, and verifying signatures.

But Chik points out scammers often use fake SMS messages and emails.

She suggests the authority consider safer verification methods, such as using the iAM Smart app, to ease users' concerns.

The authority urges the public to register for eMPF to better manage their retirement reserves.