Half the respondents to a poll said they would not transfer their Mandatory Provident Fund contributions to a trustee of their choice, with most saying 'it's too much trouble'.
Because it would take a 'very slow' six to eight weeks to transfer the funds, it was natural some people would not bother doing it, said the consultancy firm Gain Miles, which commissioned the survey on a new portability scheme.
MPF portability will give employees the chance to transfer their part of the MPF contributions and returns to a service provider of their choice once a year. The Mandatory Provident Fund Schemes Authority was looking at ways to shorten the processing time, a spokesman said.
Gain Miles commissioned the University of Hong Kong's public opinion programme to survey about 1,000 MPF contributors during two weeks last month. The survey was done in view of the new scheme, which takes effect in November.
Other respondents said switching was unnecessary, or they were happy with their schemes at the moment.
Almost 40 per cent said they would or might switch trustees when the portability scheme took effect.