MPF news

The 2022-23 Good MPF Employer Award organized by the Mandatory Provident Fund Schemes Authority, is open for applications. Employers who are exemplary in enhancing the retirement benefits of their employees should act now.

For details and online application, please visit The Good MPF Employer Award website. The deadline is 30 June.

The above information is provided by the Mandatory Provident Fund Schemes Authority.

HSBC MPF always strives to deliver high level of MPF services at all times. To improve customer experience, we are pleased to announce the new MPF branch services during designated weekends.

Ching Ming Festival and Easter holiday are around the corner. Employers are reminded to submit MPF Remittance Statements and make contributions in advance before the contribution deadline. 

For employers who submit Remittance Statements and/or cheques by mail, please ensure your mail items bear sufficient postage before posting and allow sufficient time for delivery to ensure the Remittance Statements and/or cheques will reach HSBC MPF on or before the contribution deadline. Employers can also submit e-Remittance Statements and employer contributions via HSBC HK Business Express mobile app (applicable to HSBC commercial banking customers only) or HSBC Business Internet Banking anytime, anywhere. Learn more.

The latest edition of "HSBC Retirement Monitor* (March 2023) " is now available on HSBC MPF website. You can click here to understand the estimated expenditure for living in Hong Kong after retirement.

*The "HSBC Retirement Monitor" was commissioned by HSBC MPF with The Association of Superannuation Funds of Australia conducting the research and analysis.

We conduct reviews of the risk ratings for the Constituent Funds under the Scheme regularly and the risk ratings may be subject to change from time to time. We would like to inform you that the latest risk rating review has been completed. With effect from 28 February 2023, the risk rating for the Hong Kong and Chinese Equity Fund under the Scheme will be increased from '4' to '5, while the risk ratings for other Constituent Funds under the Scheme remain unchanged.

To obtain the latest risk ratings of the other Constituent Funds and the description of each of the risk rating category, please refer to the 'Monthly Fund Performance Summary' and/or the 'Fund Fact Sheet' posted on the HSBC MPF website or to the HSBC HK Mobile Banking app. Should you have any queries, please contact our HSBC MPF Member Hotline on (852) 3128 0128.

Please note that the risk ratings provided are for reference only and should not be regarded as investment advice. You should not rely on the risk ratings when making any investment choices for your MPF account(s).

HSBC MPF always strives to deliver high level of MPF services at all times. To improve customer experience, we are pleased to announce the new MPF branch services during designated weekends.

Operation hours: Saturday: 3pm-8pm & Sunday: 10am-8pm

We will provide MPF services including services related to MPF Tax Deductible Voluntary Contributions (TVC), account consolidation, fund performance update and MPF retirement planning etc. during the special operation hours indicated above at designated branches.

Find out more about MPF and understand what are the considerations when choosing an MPF scheme. Please contact our MPF Specialist by approaching the above designated branches on specific day or making an appointment to meet them with selected timeslot.

The latest edition of "HSBC Retirement Monitor* (December 2022) " is now available on HSBC MPF website. You can click here to understand the estimated expenditure for living in Hong Kong after retirement. 

*The "HSBC Retirement Monitor" was commissioned by HSBC MPF with The Association of Superannuation Funds of Australia conducting the research and analysis.

*The "HSBC Retirement Monitor" was commissioned by HSBC MPF with The Association of Superannuation Funds of Australia conducting the research and analysis.

Operation hours: Saturdays: 3pm-8pm & Sundays: 10am-8pm

We will provide MPF services including services related to MPF Tax Deductible Voluntary Contribution (TVC), Account consolidation, Fund performance update and MPF retirement planning etc. during the special operation hours indicated above at these designated branches.

Find out more about MPF, and understand what are the considerations when choosing an MPF scheme.  Please contact our MPF Specialist by approaching the above designated branches on specific day or making an appointment to meet them with selected timeslot. 

Operation hours: Saturdays: 3pm-8pm & Sundays: 10am-8pm

We will provide MPF services including services related to MPF Tax Deductible Voluntary Contribution (TVC), Account consolidation, Fund performance update and MPF retirement planning etc. during the special operation hours indicated above at these designated branches.

Find out more about MPF, and understand what are the considerations when choosing an MPF scheme.  Please contact our MPF Specialist by approaching the above designated branches on specific day or making an appointment to meet them with selected timeslot. 

The Key Scheme Information Document (the ‘KSID’), which forms part of the offering document of the SuperTrust Plus, will be available from 30 June 2022. The KSID helps to provide scheme members with key scheme information relating to the SuperTrust Plus in a simplified and standardized format prescribed by the Mandatory Provident Fund Schemes Authority. The KSID has adopted a layered approach which scheme members will benefit from having one single document that bring them to more information and can choose the level of detail of information desired. The KSID is designed to be easy-to-read to directing scheme members to the necessary documents or tools through electronic means (e.g. web link and/or QR code provided).

The KSID (together with the MPF Scheme Brochure) and Notice to Scheme Participants are available on HSBC MPF website. For further information, please feel free to contact the HSBC MPF Employer Hotline +852 2583 8033 or HSBC MPF Member Hotline +852 3128 0128.

The Guaranteed Interest Rate for the Guaranteed Fund available under HSBC Mandatory Provident Fund - SuperTrust Plus is 0.15% per annum in the financial year from 1 July 2022 to 30 June 2023. The guarantee in the Guaranteed Fund only applies under certain conditions. Please refer to subsection 3.4.3(f) 'Guarantee features' of the MPF Scheme Brochure for details of the guarantee features (including in the context of payment of accrued benefits in instalments) and the 'Guarantee Conditions'.

The latest edition of "HSBC Retirement Monitor* (June 2022) " is now available on HSBC MPF website. You can click here to understand the estimated expenditure for living in Hong Kong after retirement. 

*The "HSBC Retirement Monitor" was commissioned by HSBC MPF with The Association of Superannuation Funds of Australia conducting the research and analysis.

The Public holidays of May (Day following of Labour Day and Buddha’s birthday) are coming soon. Employers are reminded to submit remittance statement and make contribution payment earlier to avoid missing the contribution deadline. For employers who submit remittance statements and/or cheques by mail, please ensure there is sufficient time for ensure the remittance statements and/or cheques will reach HSBC MPF on or before the contribution deadline.

The 2021-22 Good MPF Employer Award (the Award), organized by the Mandatory Provident Fund Schemes Authority (MPFA), is now open for applications and nominations. 

The Award aims to promote and foster employer compliance with MPF legislation; encourage employers to provide better retirement benefits for their employees; and recognise employers who are exemplary in enhancing the retirement benefits of their employees. Nearly 2,500 companies and organizations have been honoured as “Good MPF Employers” since its debut in 2015. 

Eligible employers should act now and apply for the Award. Employees are also welcome to nominate their employers for the Award. For more details, please visit the Good MPF Employer Award website. The deadline is 30 June 2022. 

The above information is provided by the Mandatory Provident Fund Schemes Authority.

Operation hours: Sat: 3-8pm & Sun: 10-8pm

We will provide MPF services including services related to MPF Tax Deductible Voluntary Contribution (TVC), Account consolidation, Fund performance update and MPF retirement planning etc. during the special operation hours indicated above at these designated branches.

Find out more about MPF, and understand what are the considerations when choosing an MPF scheme. Please contact our MPF Specialist by approaching the above designated branches on specific day or making an appointment to meet them with selected timeslot.

With the above changes, the SuperTrust Plus will consist of a more comprehensive offering of Constituent Funds, with a suite of low-fee funds that are index-tracking or passively managed. We believe this can facilitate you to better differentiate the restructured funds from other active funds on our MPF platform, allowing you to make investment choices meeting your own investment styles, risk tolerance levels and personal circumstances. This, together with the de-layering change, can simplify the investment structure of the funds and enhance investment, administrative and operational efficiency. 

On the other hand, during a recent review of the management fee breakdown among key operators, we decided to adjust the fee breakdown with effect from 1 July 2021. While the fee components among different stakeholders were re-jiggled, the total management fee level payable by members remains unchanged. 

In addition, the statutory Annual Registration Fee has been effected from 1 October 2020 and we are liable for the payment of the fee starting from 1 July 2021. Please rest assured that the fee will be borne and shared among the key operators with no impact on you.

For further details of the above, please refer to the Notice to Scheme Participants, First Supplement to the MPF Scheme Brochure and frequently asked questions.

The Guaranteed Interest Rate for the Guaranteed Fund available under HSBC Mandatory Provident Fund - SuperTrust Plus is 0.15% per annum in the financial year from 1 July 2021 to 30 June 2022. The guarantee in the Guaranteed Fund only applies under certain conditions. Please refer to subsection 3.4.3(f) ‘Guarantee features’ of the MPF Scheme Brochure for details of the guarantee features (including in the context of payment of accrued benefits in instalments) and the ‘Guarantee Conditions’.

The latest edition of "HSBC Retirement Monitor* (June 2021) " is now available on HSBC MPF website. You can click here to understand the estimated expenditure for living in Hong Kong after retirement.

*The "HSBC Retirement Monitor" was commissioned by HSBC MPF with The Association of Superannuation Funds of Australia conducting the research and analysis.

With effect from 21 June 2021, there will be an additional option available for scheme participants to withdraw their MPF Benefits, AVC Benefits and TVC Benefits on their 65th birthday or on early retirement on or after reaching age 60, so that, they can create a long-term and steady monthly income for better retirement planning.

At eligible scheme participants’ decision, they can apply the monthly regular withdrawal by submitting a valid INPR ‘Claim Form for Payment of MPF Accrued Benefits (Benefits) on Grounds of Attaining the Retirement Age of 65 or Early Retirement [FORM MPF(S) – W(R)]’ together with the appropriate supporting documents to the Administrator of the Scheme one time to receive the monthly regular withdrawal amount from the selected MPF account(s) under the Scheme as specified on the INPR until the selected MPF account(s) is terminated or such regular withdrawal instruction is amended or cancelled. Scheme participants can opt-in the method of payment by deposit directly or cheque. The regular withdrawal instruction(s) can be amended or cancelled at any time at scheme participants’ decision by submitting a valid INRW ‘Change of Regular Withdrawal Instruction Form’.

The above mentioned forms will be available at HSBC MPF website at www.hsbc.com.hk/mpf or designated branches or scheme participants may request copies of them by contacting the HSBC MPF Member Hotline +852 3128 0128.

To learn more about this new feature, please refer to the Frequently Asked Questions.

The Hong Kong economy has been hit hard by the COVID-19 pandemic in the past year. Despite the uncertain outlook, many employers are still providing extra retirement protection for their employees. The Good MPF Employer Award, organised by the Mandatory Provident Fund Schemes Authority (MPFA), now in its seventh year, recognises employers that are committed to enhancing the retirement benefits of their employees. Since the inception of the Award, over 2,200 companies and organisations have been commended. A record 1,671 employers were recognised last year despite the pandemic, showing that many employers in Hong Kong are willing to go the extra mile to support the retirement benefits of their employees.

The 2020-21 Good MPF Employer Award is open for applications and nominations from 1 April to 30 June. Two special awards have been introduced to commend and encourage companies / organisations that have made continuous efforts to enhance the retirement protection of their employees. Employers who fulfil the relevant criteria will be presented with one or both of the following special awards:

• Good MPF Employer 5+ Years
  Companies / organisations that received the Good MPF Employer Award for five consecutive years or more.
• Best All-round MPF Employer
  Companies / organisations that meet all of the following criteria:
      (1) Received the Good MPF Employer Award for seven consecutive years;
      (2) Offered more than one MPF scheme;
      (3) Offered MPF voluntary contributions for some or all of their employees;
      (4) Received the e-Contribution Award; and
      (5) Received the MPF Support Award. 

To apply for this year’s Award which covers the period from 1 April 2020 to 31 March 2021, companies / organisations can fill in and submit an application online on the Good MPF Employer Award website, or submit their application by email, fax or post. Employees are also welcome to nominate their employers for the Award by submitting a nomination form to the MPFA.

The results of 2020-21 Good MPF Employer Award will be announced in October 2021. The MPFA will present award certificates to the awardees, and the list of awardees will be uploaded to the MPFA website. In addition to being invited to attend activities organised by the MPFA and receiving the latest information from the MPFA, the awardees will be entitled to display the award logo on their websites, and in their promotional materials, advertisements and activities until 30 September 2022. They also have the opportunity to share their experience with the public through various channels.

Act now, Good MPF Employers!

The above information is provided by the Mandatory Provident Fund Schemes Authority.

Easter long holiday is coming soon. Employers are reminded to submit remittance statement and make contribution payment earlier to avoid missing the contribution deadline (12 April 2021). For employers who submit remittance statement and/or cheque by mail, please ensure you allow sufficient time for ensure the remittance statement and/or cheque to reach HSBC MPF on or before the contribution deadline.

The latest edition of "HSBC Retirement Monitor* (March 2021) " is now available on HSBC MPF website. You can click here to understand the estimated expenditure for living in Hong Kong after retirement.

*The "HSBC Retirement Monitor" was commissioned by HSBC MPF with The Association of Superannuation Funds of Australia conducting the research and analysis.

Chinese New Year long holiday is coming soon. Employers are reminded to submit remittance statement and make contribution payment earlier to avoid missing the contribution deadline. For employers who submit remittance statements and/or cheques by mail, please ensure you allow sufficient time for ensure the remittance statements and/or cheques to reach HSBC MPF on or before the contribution deadline.

The outbreak of Covid-19 pandemic has a significant impact on the global economy.  While the US Federal Reserve’s actions to keep interest rates near zero in June, Hong Kong dollar (HKD) money market rates have also been impacted by a number of factors affecting liquidity.

Overall, liquidity yields may remain low compared to last year given the economic impact of the Covid-19 pandemic and easing policies by global central banks.

The MPF Conservative Fund, and ORSO Money Market Funds generally aim to provide liquidity together with a rate of return higher than the bank savings rate. However, we would like to remind investors that investment in money market funds is different from depositing funds in a savings account at a bank or deposit taking company. These funds are not capital protected, and there is no guarantee that a stable net asset value will be maintained. Investors may not get back the amount originally invested.

• The information contained in this website is for reference only and will be updated from time to time without notice. The provisions of the Mandatory Provident Fund Schemes Ordinance, Occupational Retirement Schemes Ordinance, other applicable legislation/regulations and guidelines or announcements published by the Mandatory Provident Fund Schemes Authority and/or Securities and Futures Commission shall prevail for any information on MPF and ORSO system. If you are in doubt about the meaning or the effect of the contents of this website, you should seek independent professional advice.
• Investment involves risks. Past performance is not indicative of future performance. The value of financial instruments, in particular stocks and shares, and any income from such financial instruments, may go down as well as up. For further details including the product features and risks involved, please refer to the relevant brochure.  

The outbreak of Covid-19 pandemic has a significant impact on the global economy.  While the US Federal Reserve’s actions to keep interest rates near zero in June, Hong Kong dollar (HKD) money market rates have also been impacted by a number of factors affecting liquidity.

Overall, liquidity yields may remain low compared to last year given the economic impact of the Covid-19 pandemic and easing policies by global central banks.

The MPF Conservative Fund, and ORSO Money Market Funds generally aim to provide liquidity together with a rate of return higher than the bank savings rate. However, we would like to remind investors that investment in money market funds is different from depositing funds in a savings account at a bank or deposit taking company. These funds are not capital protected, and there is no guarantee that a stable net asset value will be maintained. Investors may not get back the amount originally invested.

The ORSO Amendment Bill was passed by the Legislative Council on 17 June 2020, and became effective on 26 June 2020. The main objective of the ORSO Amendment Bill is to set up a registration framework for the Occupational Retirement Schemes (“ORSO Schemes”) to ensure they are properly regulated.

The new ORSO Amendment Bill will require employers to submit an annual written statement (for ORSO registered and exempted schemes), an annual return (for ORSO exempted schemes only) as well as notification of reportable events (for ORSO registered schemes only) to the Mandatory Provident Fund Schemes Authority (‘MPFA’). For more information on the new requirements, please visit the MPFA website > ORSO > Circulars > Occupational Retirement Schemes (Amendment) Bill 2019.

The MPFA had also invited employers to attend their upcoming Town Hall sessions (28th, 29th, 30th of July 2020) to facilitate employers to gain a better understanding of the new requirements under the new regulatory requirement. By 6th July 2020, employers will need to register and complete the ‘Reply Slip’ contained in the abovementioned Circular.  We strongly encourage employers to register and attend the upcoming Town hall sessions.