HSBC MPF FAQs

You can find the historical performance of the Constituent Funds on our Fund Information page. Please see the cumulative performance section.

For unit prices, please visit our Fund Information page.

There are a few other ways you can check unit prices.

• HSBC HK App: Go to the homepage, select your HSBC MPF account, then choose 'Explore all HSBC MPF Constituent Funds'
• HSBC MPF member hotline: +852 3128 0128
  To check the current fund unit prices, call us during business hours
• Newspapers: Hong Kong Economic Times, and South China Morning Post

Unit prices are calculated based on the net asset value of each fund. That is, the value of its investments, less fees and charges, divided by the number of units that are issued.

The exception is unit prices for MPF Conservative Fund, on or before 30 June 2015. This was when fees and charges were deducted directly from a member's account by unit deduction.

The value of the units in each Constituent Fund will be determined at each valuation date. This is in accordance with the Master Trust Deed.

In general, when an overseas market is closed but the Hong Kong market is open, the Trustee or Investment Manager will use the latest available fund price for the underlying fund. They'll use it to calculate the unit price of the relevant Constituent Fund. This is usually the closing price at the close of business for the last session of that market, before the relevant valuation day.

No, you can't. By law, you must invest your MPF monies in the funds offered by the MPF scheme that you participate in.

Under the relevant MPF legislation, each MPF scheme must offer a CPF.

Our CPF is a low-risk fund which invests in high-grade Hong Kong dollar-denominated monetary instruments. For example, treasury bills, bills of exchange, commercial paper, certificates of deposits or interbank deposits. These also include other ancillary investments that are allowed under the Mandatory Provident Fund Schemes (General) Regulation. Its investment objective is to achieve a rate of return that's higher than what's available for savings deposits. But you should note that returns are not guaranteed.

A CPF may use one of these two ways to deduct fees and charges:

• Fund level deduction: that is, from CPF assets
• Member level deduction: that is, directly from members' accounts as units

From 1 December 2000 to 30 June 2015, the CPF of HSBC Mandatory Provident Fund – SuperTrust Plus used member level deduction.

But from 1 July 2015 onwards, it has been using fund level deduction.

This is in accordance with MPF legislation. Fees and charges can be deducted from your CPF. But this only happens when the investment return is higher than the prescribed savings rate published regularly by the MPFA.

From 1 December 2000 to 30 June 2015, the CPF of HSBC Mandatory Provident Fund – SuperTrust Plus used member level deduction. That is, fees and charges were deducted directly from members' accounts as units. This means that the CPF unit prices had not taken the deductions into account yet. During this time, it was done only after the investment return and prescribed savings rate for each month were ascertained.

As from 1 July 2015, fees and charges accrue on a daily basis. They're reflected in the fund's unit prices, net asset value and fund performance quoted each day.

Our Guaranteed Fund is a low-risk fund that provides you with a guaranteed interest rate, as long as certain conditions are met. If any of the Guarantee Conditions are met when you withdraw or transfer your balance, you'll be entitled to the Actual Balance or Guaranteed Balance, whichever is greater.

The Guaranteed Fund under the HSBC Mandatory Provident Fund – SuperTrust Plus carries a guarantee. But it only applies under certain conditions.

Please refer to the MPF scheme brochure (PDF) for further details. Go to the 'Guaranteed Fund' section to find the 'guarantee features' and 'Guarantee Conditions'. You'll also be able to find context on when accrued benefits may be paid in instalments.

Here's the rate, by financial year:

• From 1 July 2024 to 30 June 2025: 0.20% per annum
• From 1 July 2025 to 30 June 2026: 0.20% per annum

The rate will be reviewed yearly. It'll be determined at the start of each financial year (1 July).

The DIS is made up of 2 Constituent Funds. These are namely the Age 65 Plus Fund (A65F) and the Core Accumulation Fund (CAF). The DIS is a ready-made investment arrangement. It's mainly designed for members who aren't interested in or don't want to make an investment choice as to a Constituent Fund. It's an investment arrangement for members who find it suitable for their own circumstances.

As of 1 April 2017 onwards, this will be the default option if you don't make an investment choice when you set up a new MPF account. That means your new contributions and any accrued benefits that you transfer from another registered scheme will be invested in accordance with the DIS.

The DIS aims to balance the long-term effects of risk and return through investing in the two Constituent Funds. This is done according to the pre-set allocation percentages at different ages. The DIS will manage investment risk exposure by automatically reducing exposure to higher-risk assets and increasing exposure to lower-risk assets as you get older. This de-risking is achieved by reducing holdings in the CAF and increasing holdings in the A65F over time.

Your asset allocation will stay the same until you're aged 50. After that, it'll steadily shift from the CAF to the A65F until age 64 when it'll be steady again. For more DIS details, please refer to the MPF scheme brochure (PDF).

The DIS is made up of 2 Constituent Funds. These are the Core Accumulation Fund (CAF) and the Age 65 Plus Fund (A65F).

The CAF and A65F are the 2 Constituent Funds that make up the Default Investment Strategy (DIS).

The CAF provides capital growth for its members. This is done by investing in a globally diversified way. It'll invest around 60% of its net asset value in higher-risk assets (generally equities or similar investments). And it'll invest the remaining 40% in lower-risk assets (which may include but are not limited to global bonds and money market instruments).

On the other hand, the A65F provides stable growth for its members' retirement savings. This is also done by investing in a globally diversified way. It'll invest around 20% of its net asset value in higher-risk assets and the remaining 80% in lower-risk assets.

Yes, you can do so. Both the CAF and A65F funds can be standalone investment, rather than as part of the Default Investment Strategy (DIS). But if you choose this, de-risking won't apply. That means as you approach retirement age, your risk exposure won't be automatically reduced. 

It's a special reward in the form of bonus units. It's offered and credited to eligible scheme members who have met the terms and conditions of the relevant bonus unit rebate campaigns.

In general, you can submit a remittance statement at any time. The service is available 24/7 in HSBC Business Internet Banking.

When the day is ending while you're preparing a remittance statement in HSBC Business Internet Banking, we'll send you a notification. This is a reminder that the submission may be considered as being made on the next working day.

According to the eMPF Platform, if the deadline for contributions falls on a contribution date, the cut-off time will be at 12am midnight on that same day. Any submissions received via the eMPF Platform after 12am midnight will be considered as being made on the next working day. This might result in a surcharge. For details, please visit the eMPF website.

Yes, you can do so for up to 15% of your employees' total emoluments each tax assessment year.

No, you should submit your MPF scheme administration instructions, forms and documents via the eMPF Platform instead.

That's because HSBC MPF has now been onboarded to the eMPF Platform. So it'll handle all MPF administrative instructions from now on. If you submit them to us, you may face a processing delay.

For details, please visit our eMPF page.

While the arrangement is being abolished, the LSP / SP will be calculated differently.

The transition date for this is 1 May 2025. If your employee started their employment before this date, their LSP / SP will be divided into a pre-transition portion and a post-transition portion. Here’s how each portion will be calculated.

Pre-transition portion

The last full month’s wages as it immediately precedes 1 May 2025 × 2/3 × years of service before 1 May 2025

Post-transition portion

The last full month’s wages before the termination of employment × 2/3 × years of service before 1 May 2025

Note: If their employment started on or after 1 May 2025, their LPS / SP will all belong to the years of service counted on or after the transition date. The calculation will not change. It will stay the same as the existing provision of the Employment Ordinance.

For details, please refer to the abolition of MPF offsetting arrangement.

Employers should first pay long service payments and severance payments to their employees. This should be done in accordance with the provisions under the Employment Ordinance. You can then submit your application for government subsidy.

For more details, please visit the Labour Department website.

You can also learn more about the subsidy scheme for the abolition of MPF offsetting arrangements.

You can do so via the HSBC HK App if you meet all of the following requirements.

• You're already an HSBC MPF customer
• You already have an MPF personal account or contribution account
• You also have an HSBC bank account

Once we've received your instructions, we'll send them to the eMPF Platform for their processing in around 2 working days.

You can submit the instructions to do that in the HSBC HK App. These instructions will then be sent to and processed by eMPF.

Before you get started, make sure you have the following ready:

• The names of your original trustees
• The member account numbers for the accounts you want transferred or consolidated
• Your HKID card, as a copy will be submitted to the eMPF Platform.

You can find the member account number in your notice of participation. Or you might find it on your membership certificate, notice of acceptance, or annual benefit statement. For help, you can contact the eMPF Platform.

Once we've received your instructions, we'll send them to the eMPF Platform for their processing[@empf-delay] in around 2 working days.

Once you've submitted your request, you'll get a message in the HSBC HK App within 24 hours. It's a message to say that your request has been acknowledged. To find it, select the menu icon, choose 'Here to help', and select 'Messages'.

Please save a screenshot of this confirmation for your own records.

Or you can submit your instructions through the eMPF Platform directly instead. And if you’d like to ask about the status of the instructions you submitted there, you can call the eMPF Platform customer service hotline on 183 2622.

You can consolidate all your MPF accounts so you can manage them more easily. You can do so by transferring your MPF accrued benefits from other MPF scheme providers to HSBC MPF.

If you'd like to transfer your MPF accrued benefits to an HSBC MPF Personal Account, please call us on +852 3128 0128. Or learn more on our 'MPF personal accounts' page.

There are two ways to do this – via the HSBC HK App or the eMPF Platform.

HSBC HK App

You can submit an application to open and consolidate your MPF personal accounts via the HSBC HK App. We'll then send your instructions to the eMPF Platform for their processing[@empf-delay].

For the detailed steps on how to do this in the HSBC HK App, please visit our 'Consolidating your MPF' page.

eMPF Platform

You can submit your instructions through the eMPF Platform directly instead.

And if you'd like to ask about the status of the instructions you submitted there, you can call the eMPF Platform customer service hotline on 183 2622.

You can submit the instructions to do so via the HSBC HK App. We'll then send your instructions to the eMPF Platform for their processing[@empf-delay] in around 2 working days.

Or you can submit your instructions through the eMPF Platform directly instead. And if you'd like to ask about the status of the instructions you submitted there, you can call the eMPF Platform customer service hotline on 183 2622.

You can submit the instructions to do that in the HSBC HK App. These instructions will then be sent to and processed by eMPF.

Before you get started, make sure you have the following ready:

• The names of all the trustees
• The member account numbers for the accounts you want transferred or consolidated
• Your HKID card

You can find the member account number in your notice of participation. Or you might find it on your membership certificate, notice of acceptance, or annual benefit statement. For help, you can contact the eMPF Platform.

We'll then send your instructions to the eMPF Platform for their processing[@empf-delay] in around 2 working days.

Or you can submit your instructions through the eMPF Platform directly instead. And if you'd like to ask about the status of the instructions you submitted there, you can call the eMPF Platform customer service hotline on 183 2622.

Once you've submitted your request, you'll get a message in the HSBC HK App within 24 hours. It's a message to say that your request has been acknowledged. To find it, select the menu icon, choose 'Here to help', and select 'Messages'.

Please save a screenshot of this confirmation for your own records.

You can check it on the eMPF Platform.

Both are voluntary contributions on top of your mandatory contributions. But here are their key differences:

• You can make flexi-contributions by direct debit from your bank account. But you make employee voluntary contributions by deducting them from your salary.
• You can set up flexi-contributions directly with us. That means they’re private and independent from your employer. But for employee voluntary contributions, you'll need to set them up through your employer.
• You won't need your employer's consent to withdraw the flexi-contributions you made. But for employee voluntary contributions, you’ll need their consent to do so if you have a contractual arrangement with them.
• You can choose when you want your flexi-contributions to be debited. But for employee voluntary contributions, the contribution date will be the same as that of your mandatory contributions.

You can find out more on our 'Making voluntary contributions' page.

Yes, you can keep them in a personal account under an MPF scheme.

You can make a request to withdraw them up to 12 times in a financial year (1 July to 30 June). You can withdraw them as a sum of at least HKD5,000 or as an integer percentage each time.

You can make a request to withdraw your employee voluntary contributions up to 12 times each financial year (1 July to 30 June). You can withdraw them as a sum of at least HKD5,000 or as an integer percentage each time. You may need to get your employer's approval before you make the withdrawal.

Yes, you can make lump sum contributions after you've set up regular flexi-contributions. This can be done on an ad-hoc basis. The minimum amount for each lump sum contribution is HKD1,000.

You can ask to withdraw your flexi-contributions up to 12 times each financial year (1 July to 30 June). You can withdraw them as a sum of at least HKD5,000 or as an integer percentage each time.

TVCs is a type of voluntary contribution that some MPF scheme providers offer in their registered schemes. TVCs can only be paid into a specific TVC account of a registered scheme, such as the HSBC Master Trusts.

TVCs aim to give you tax concessions for the voluntary contributions you make. They also help you save for a better retirement over the long term.

The maximum tax-deductible amount is HKD60,000 each tax assessment year, starting from 1 April 2019. This cap applies to both your TVC contributions and any qualifying deferred annuity policy premiums you may have.

TVC contributions are subject to the same vesting, preservation and withdrawal requirements as your mandatory contributions. You can only make TVC contributions if you're eligible – to check, please see our TVC accounts page.

Your employers don't need to be involved in setting up TVCs.

You can apply for a TVC (Tax Deductible Voluntary Contribution) account if you meet any of the following requirements:

• You're a current employee member of a registered scheme
• You're a current self-employed member of a registered scheme
• You're a current personal account holder of a registered scheme
• You're a current member of an MPF-exempted ORSO scheme

If you're eligible, you can apply for a TVC account by:

• Enrolling in a TVC account through the MPF Account Enrolment page of the eMPF Web Portal or the eMPF Mobile App. For help, please call the eMPF customer service hotline on 183 2622.
• Completing an HSBC Mandatory Provident Fund – SuperTrust Plus – Tax Deductible Voluntary Contributions ('TVC') account member application form 
• Calling our HSC MPF member hotline on +852 3128 0128
• Visiting us at any designated branches

You can only open 1 TVC account for each registered scheme. If you want to claim tax deductions on voluntary contributions made to a registered scheme, you must make the contributions to your TVC account.

You can make TVC contributions at your own pace. But you should note that there's a maximum tax-deductible amount of HKD60,000 each tax assessment year. So any amounts that exceed this limit won't be tax-deductible.

There are two ways you can make your contributions.

Via direct debit

You can make monthly contributions of HKD300 or more by direct debit. To set this up, please complete an HSBC Mandatory Provident Fund – SuperTrust Plus – contribution change form.

Via cheque

You can make a lump sum contribution of HKD1,000 or more by cheque, at any time. This gives you more flexibility over your contributions. Whenever you want to make a lump sum contribution, please complete an HSBC Mandatory Provident Fund – SuperTrust Plus – contribution change form.

You can find the form you need in the eMPF Form Centre.

Important things you should note

• Please consider your personal circumstances before you decide on a TVC contribution amount. You should also keep in mind that you're accumulating funds for your retirement.
• TVC contributions are subject to the same vesting, preservation and withdrawal requirements as your mandatory contributions. These requirements also apply to contributions above the maximum tax-deductible amount of HKD60,000.

These are all contributions you can make on a voluntary basis.

Only TVC contributions are eligible for tax deductions. The maximum tax-deductible amount is HKD60,000 each tax assessment year.

You can make additional voluntary contributions through your employers. But you can set up flexi-contributions and TVC contributions directly with us. This way, they'll be private and independent from your employer.

The maximum tax-deductible amount is HKD60,000 each tax assessment year. This limit applies across your TVC account and any other qualifying deferred annuity premiums.

That means you can claim a TVC amount of HKD60,000. Or you can claim deferred annuity premiums of HKD60,000.

Or you can claim a combination of both. For example, a TVC amount of HKD45,000 and a deferred annuity premium of HKD15,000 – this will meet the maximum limit of HKD60,000 together.

As an individual tax payer, it's your responsibility to apply for a tax deduction and to track how you fully use the maximum tax-deductible limit. It's the same as with tax deductions for your mandatory contributions and other tax concessions. Please note that 'individual tax payer' excludes the trustee, MPF scheme provider and/or other operators of the HSBC Master Trusts.

For more details, please visit the eMPF website.

TVC benefits may be withdrawn under the same conditions as your mandatory contributions. That is, if one of the following conditions are met:

• You turn 65
• You pass away (in which case, your legal personal representatives will be paid your accrued benefits)
• You become totally incapacitated
• You become terminally ill
• You retire early between ages 60 and 64
• You depart from Hong Kong permanently
• You're claiming due to small balance under section 162 (1)(c) of the Mandatory Provident Fund Schemes (General) Regulation

When you turn 65 or you retire early between ages 60 and 64, you can claim your TVC benefits as a lump sum or in instalments.

You can submit your instructions for a withdrawal via the eMPF Platform.

You can do so by changing your future investment mandate, rebalancing, switching funds, or making a fund-to-fund switch. You can do this via the eMPF Web Portal and the eMPF Mobile App.

For detailed steps, please see the MPF Investment guides – both a Web Portal and a mobile app version are available. You can find them and more information on the eMPF website.

You can find the change of investment forms you might need in the eMPF Form Centre.

Yes, you can choose DIS as an option. But you should consider if its features suit your circumstances.

Per MPF legislation, you can only do so when you reach age 65. That's unless you meet any of the following circumstances:

• You retire early after age 60
• You depart from Hong Kong permanently
• You pass away
• You become totally incapacitated
• You become terminally ill
• You're claiming due to a small balance of HKD5,000 or less

You can choose to:

• Withdraw them as a lump sum
• Withdraw them in instalments on the grounds of retirement at age 65 (from 1 February 2016 onwards)
• Keep them in their existing scheme until you want to withdraw them

To make a withdrawal, please specify the amount you want to withdraw. You can submit your withdrawal instructions on the eMPF Platform.

You can choose to:

• Withdraw them as a lump sum
• Withdraw them in instalments on the grounds of retirement at age 65 (from 1 February 2016 onwards)
• Keep them in their existing scheme until you want to withdraw them

To make a withdrawal, please specify the amount you want to withdraw. You can submit your withdrawal instructions on the eMPF Platform.

But you should note that you'll need your current employer's consent to withdraw voluntary contributions you made under a contractual agreement with them. That's because you're still employed with them. You'll need to fill in a form that shows you've gotten their consent. You can find the form you need in the eMPF Form Centre.

You have a few options for your accrued MPF benefits:

• Transfer them to the contribution account that's under your new employer's scheme
• Transfer them to a personal account under any MPF scheme of your choice
• Keep them in the original scheme

For more details, please refer to the eMPF user guide.

You can find this information in HSBC Online Banking. Simply log on to see a projection of your accrued benefits until age 65.

You can now do the following on the HSBC HK App:

• Submit instructions to open an HSBC MPF Personal Account
• Submit instructions to consolidate all your MPF personal accounts
• Submit instructions to transfer benefits under the Employee Choice Arrangement (ECA)
• View your MPF account balances and account returns
• See your asset distribution, contribution and transaction history from the last 12 months
• Check the cumulative investment performance of HSBC MPF funds
• Make an appointment with an MPF Specialist

We'll deliver your instructions to the eMPF Platform by post for their processing. Please allow around 2 working days for them to be delivered.

If you'd like to ask about the status of your application, please call the eMPF customer service hotline on 183 2622.

You can do so if you have an HSBC MPF account, and you’re registered for HSBC Personal Internet Banking.

If you’re an HSBC MPF customer but you don’t have an HSBC bank account, you’ll need to apply for one first. Or if you have any HSBC Personal Internet Banking credentials, you can use them to log on to the HSBC HK App.

No, you can view or manage all your MPF accounts in the HSBC HK App for free.

To see your overall MPF account balance, simply log on to the HSBC HK App.

Stay on the homepage and select 'HSBC MPF' from your account list. From there, you'll be able to see the following data for all your HSBC MPF accounts:

• MPF balances
• Account returns
• Fund performance
• Asset distribution
• Transaction history

Yes, you can do so once you've logged on to HSBC Online Banking.

You can view any of the following MPF accounts that you might hold:

• Employee accounts
• Self-employed accounts
• Personal accounts
• Tax-deductible voluntary contributions (TVC) accounts
• Flexi-contribution accounts

You can see the cumulative performance of all HSBC MPF Constituent Funds on the fund performance page. You can check a fund's performance over a 1-month, 3-month, 6-month, 1-year, 3-year or 5-year period. Or you can check a fund's performance since its launch.

You can also see details such as its investment objectives, launch date, fund-expense ratio, and risk rating. Its portfolio allocation and top 10 portfolio holdings (%) are also available.

You can find 'Returns since inception' on the eMPF information page. The additional information on this page is provided by the eMPF Platform.

To access the eMPF information page, select the message card at the top of your MPF account summary page.

You can also find more details about your balance and fund holdings. These are retrieved from the eMPF Platform for your reference.

The eMPF Platform has become the primary source of information after HSBC MPF was onboarded to it. Unfortunately, 'Returns YTD' is not available from the eMPF Platform.

If you need further help, please call the eMPF customer service hotline on 183 2622.

You can access the eMPF information page in the HSBC HK App or in HSBC Online Banking. Here's how:

Via the HSBC HK App

1. Log on to the HSBC HK App.
2. Stay on the homepage and select your MPF account to go to its account summary page.
3. Select the message card with a 'View more' button to access the eMPF information page.

Via HSBC Online Banking

1. Log on to HSBC Online Banking.
2. Go to the top of the homepage and select 'MPF' to go to its account summary page.
3. Find the quick links at the top of the page and choose 'eMPF information page'.

The eMPF information page gives you more information such as:

• Your member type and account number
• Your total account balance
• Your returns since inception
• Your fund holdings
  This has a breakdown that includes fund names, market value, number of units held and fund performance.
• Contribution types and vested balance

Please note that there may be a time lag between the information available on the eMPF Platform and on HSBC channels.

If you've forgotten your username for MPF Personal Internet Banking, please get in touch with us. You can call us on +852 3128 0128.

You can register for HSBC Personal Internet Banking with an MPF account. Please make sure that your account records with us contain the following details:

• Your email address
• Your mobile phone number
• Your residential address in English

If that information is missing or outdated, please update it. You can do so via the eMPF Platform.

You'll need to decide what you want to do with your MPF accrued benefits. For a list of options, please see 'I'm leaving my current employment. What can I do about my accrued benefits?'.

You'll also need to enrol yourself in an MPF scheme as a self-employed person.

That depends.

Yes, they're tax-deductible if they're either:

• Mandatory contributions you made as a self-employed individual
• Voluntary contributions paid into a tax-deductible voluntary contribution (TVC) account

No, if they're voluntary contributions but they weren't paid into a TVC account.

For more details on tax issues, please refer to the HKSAR Inland Revenue Department's website.

If you're an employee, you can claim the following:

• Mandatory contributions made by you
• Voluntary contributions paid into a tax-deductible voluntary (TVC) account

But you can't claim the following as they're not tax-deductible:

• Voluntary contributions that weren't paid into a tax-deductible voluntary (TVC) account
• Flexi-contributions

For more details and the latest announcements, you might like to visit the HKSAR Inland Revenue Department's website.

While HSBC MPF is being onboarded, you can find your historical eStatements (issued in 2024 and 2025) in HSBC Online Banking. They'll be available there for 25 months. You can download them to keep them for your own records while they're still available.

After HSBC MPF has been onboarded, the eMPF Platform will issue your new eStatements. For more details, please visit the eMPF Platform.

Now that HSBC MPF has been onboarded to the eMPF Platform, all member accounts will have been assigned a member account number under the eMPF Platform. You should use this member account number when you submit instructions to the eMPF Platform.

If you're not sure what your member account number is, you can check it on the eMPF Platform. If that's the case, you can use the member account number for the HSBC Mandatory Provident Fund – SuperTrust Plus ('HSBC SuperTrust Plus') to communicate with the eMPF Platform.

Your HSBC SuperTrust Plus member account number is made up of two parts. It follows this format:

• Your current Employer / Scheme ID
• The current HSBC SuperTrust Plus membership number
  Use the last 8 digits of your current membership number under HSBC SuperTrust Plus (removing the first number '2' from the membership number)

So, as an example, if the:

• Current Employer / Scheme ID is 29999989
• Current HSBC SuperTrust Plus membership number is 212345678

Then your HSBC SuperTrust Plus member account number is 29999989-12345678.

With effect from 29 January 2026, HSBC MPF will be onboarded to the eMPF Platform. This means that updates for your MPF account will be centralised in the eMPF Platform then.

So you'll need to submit your request via the eMPF Platform. To do so, please go to and log on to the eMPF Platform.