Hong Kong's Mandatory Provident Fund Schemes Authority: As of March, the number of "half-freeloading" transfers of Mandatory Provident Fund has exceeded 1 million cases, involving over HK$500 billion.

On April 21, the Chairman of the Hong Kong Mandatory Provident Fund Schemes Authority, Mr. David Wong, stated in a blog post that since the launch of the Trillions of MPF Scheme 'Semi-Individual Visit Scheme' for employees in 2012, the total number of cases of 'Semi-Individual Visit Scheme' transfers has exceeded 1 million as of March this year, involving an amount of over HK$50 billion. Mr. David Wong introduced that from 2020 to 2024, an average of HK$4.8 billion from the Trillions of MPF Scheme has been transferred to employees' own chosen Trillions of MPF Schemes annually through the 'Semi-Individual Visit Scheme', which is a 27% increase compared to the previous five years from 2015 to 2019, with HK$3.8 billion annually being transferred. He revealed that since the start of the consultation on the 'Full Individual Visit Scheme' by the Trillions of MPF Schemes, opinions have been continuously received. The opinions currently received by the Hong Kong Mandatory Provident Fund Schemes Authority include expectations to consider existing employees, as well as giving greater autonomy to employees who start from May this year by canceling the 'hedging' arrangements and beyond, and hope to provide more explanation on specific details of the 'Full Individual Visit Scheme' before its implementation. Mr. David Wong mentioned that the data shows that many employees are familiar with and utilizing the 'Semi-Individual Visit Scheme', and the 'Full Individual Visit Scheme' is a further step forward from this, taking advantage of the opportunities brought by the 'MPF e-Contribution Platform', where the part of the Trillions of MPF accumulated during the current employment period that can be freely moved by employees, from being limited to mandatory contributions by employees, is extended to all including mandatory contributions by employers. He stated that the proposed 'Full Individual Visit Scheme' currently under consultation allows both employees who were employed before the implementation of canceling the 'hedging' arrangements, as well as those who are newly employed or transferred, to transfer all mandatory contributions from their current employer annually to a new 'Employer Mandatory Contribution Special Account' or an individual account for cumulative growth and appreciation.