Fiscal Budget 2026 | MPF to launch "Fully Flexible" first phase covering employees hired after May 2025
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The Financial Secretary, Paul Chan, announced in the "2026 Budget" that the Mandatory Provident Fund Schemes Authority will implement a "full free choice" arrangement, with the first phase covering employees who join after May 1, 2025. The government plans to submit a bill for amendment in the first half of next year to extend this to existing employees who joined earlier, enhancing employee choice. At the same time, the MPFA will optimize the procedures for recovering overdue contributions and increase the flexibility of investing in the Mandatory Provident Fund. Relevant consultations will be conducted this year
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