Mercer mpf market shares report as at 31 december 2019 by mercer hong kong limited, in terms of market share of total mpf assets by scheme sponsor. The content on enrolment to mpf scheme, making contributions and reporting termination and paying last contributions for casual employees is explained in the context for the arrangement under master trust scheme. Email download pdf manulife mpf members to benefit from management fees reduction as a result of greater efficiency through scheme restructure. This website is intended for hong kong residents only. This calculator is only applicable for calculating the first contribution for employees who are paid on a monthlysemimonthly basis other than casual. Do employers need to make mpf contributions for shortterm contract staff. With the recent volatile market, we noticed high volume of traffic with significant increase of login to the online pension service center. All forms should be duly completed in block letters. How to use excel to calculate salary, mpf or conduct. This retirement calculator assists you in calculating the. Make use of our retirement calculator to find out more now.
Through mpf ratings, mpf schemes, trustees, fund managers and employers are all able to drive better outcomes for mpf members and investors and enhance the level of retirement savings in hong kong. Mandatory contributions refer to those contributions in respect of which an. Mar 31, 2020 manulife provides a wide variety of mpf schemes for corporates and individuals. This website uses cookies to improve your browsing experience. Jan 16, 2017 in light of talenoxs recent expansion to hong kong, weve decided to create another free online tool for everyone see the end of the article for more calculators weve built. Annual management fees of constituent funds as low as 0. Presentation by mr cheng yanchee, chief corporate affairs officer, on embracing a new era of mpf at hong kong trustees association 2019 conference. Bea mpf conservative fund, bea mpf conservative fund and bea industry scheme mpf conservative fund collectively mcf do not provide any guarantee of the repayment of capital. Retirement planning calculator standard chartered hk. Mandatory provident fund, a pension scheme of hong kong. Manulife hong kong garners a slew of wins at two industry awards. All calculations of the benefit accrued at retirement are based on the following assumptions. Mpf employers can download a selection of mpf form and guides for aia mpf member, visit here about the forms and open your mpf account at aia company.
The strategic relationship with sun life hong kong limited for schroders mandatory provident fund mpf business provides enhanced customer support to clients of the schroder mpf master trust. Download from app store, mpf fund platform qr code. Email download pdf manulife mpf members to benefit from. Free online calculator to calculate employee and employer mpf contribution rates in hong kong. Mandatory provident fund mpf south china morning post. Retirement planner get started hsbc hsbc hong kong. Specially for companies under the master trust scheme and regular employees between 18 and 65 years of age.
Select cyberbanking service select cyberbanking service. Selfemployed individuals are also required to contribute to an mpf scheme. The mpf system in hong kong was designed to form a mandatory, privately managed, fully funded contribution scheme. Downloads principal hong kong retirement and asset. For example, the four days from 28 jan to 31 jan are. The hsbc mandatory provident fund supertrust plus is a master trust scheme. To help the ageing workforce save for their retirement, the mandatory provident fund schemes ordinance mpfso was enacted in 1995 and later supplemented by subsidiary legislation in 1998, 1999 and 2000.
This website and its contents are administered and published by willis towers watson. The introduction of the mandatory occupational pillar, called the mandatory provident fund scheme mpf, has been the biggest change to hong kong s pension policy over the last decades. To ensure you stay informed, please let us know as early as possible if any of the information that you previously provided has been changed including but not limited to residential address, correspondence address, email address, contact number, list of authorised person, etc. Last contribution calculator mpf for employers hsbc hk. Some of the payroll item depends on actual number of day of work. We also work closely with popular banks such as hsbc, hang seng bank, bank of china, standard chartered, citibank, and more, to ensure smooth bank file transactions. We present to you hong kongs first contribution and monthly contribution mpf calculator. A range of mpf contribution calculator and tests to manage your retirement and pension scheme. Visit here to download employee mpf form and guides, and learn more about aia mpf such as mpf calculator, mpf dis and mpf employee contribution. It contains two mpf calculators to help users estimating retirement needs and. To accomplish this long term goal, sun life rainbow mpf scheme the scheme is specifically designed to meet different needs of hong kong employers, their employees and selfemployed persons by providing onestop services on pensions scheme management. Mobile application principal hong kong retirement and. Mandatory provident fund onestop portal of the hong kong. Form and guide for employees mpf aia mpf, orso and macau.
Read and download all mpf forms and publications here. You should consider your own risk tolerance level and financial circumstances before making any investment choices or investing in the mpf default investment. With principal mpf mobile app, you can now manage your mpf accounts conveniently at fingertips. The mobile app is equipped with various advanced functions, allowing you to set fund price alert, check mpf account balances and personalized rate of return, gain useful market insights, and calculate your retirement savings, etc. Regarding allianz global investors mpf plan, relevant forms are being updated. Exchange rate of foreign currencies to hong kong dollar. Mpf download centre provides list of forms and documents for visitors to update or submit applications online. They use to stay informed on mpf, learn about mpf investments and compare mpf schemes, service providers and funds. Sun life financial aims to serve the workforce in hong kong by providing comprehensive financial solutions for their retirement. Schroder investment management hong kong limited is regulated by the securities and futures commission sfc in hong kong. China life mpf master trust scheme scheme is a registered mandatory provident fund scheme. The facts mandatory provident fund hong kong has a rapidly ageing population. People aged 65 and above accounted for 15 per cent of the population in 2014.
By 2019, a 40yearold man and woman in hong kong may, on an average, live for 82. Recommendations for key reforms the findings of this report are based on extensive research into the global and pension space coupled with oneonone and group discussions with mpf industry players and various stakeholders in hong kong. Free payroll software hong kong with payslips talenox. Investment management for mpf scheme retirement services. Before the implementation of the mandatory provident fund mpf. Schroders and sun life form mpf strategic relationship in hong kong. Axa hong kong axa and the principal financial group the principal have entered into an agreement for axa to be the exclusive distributor of the mandatory provident fund mpf and occupational retirement schemes ordinance orso business for the principal. Before the mpf system was established, occupational schemes existed. Mpf download forms chinese university of hong kong. The calculator is only applicable for calculating the first contributions for employees other than casual employees between the ages of 18 and 65. The information on this website is provided for hong kong residents and for reference only and by using or viewing it, you confirm that you accept the legal terms and understand the data protection policy. Mandatory provident fund schemes exemption regulation. Standard chartered bank hong kong limited is an mpf scheme distribution partner of manulife international limited incorporated in bermuda with limited liability.
Severance payment calculator mpf, orso and macau pension. A selection of forms you can download, fill in and send back to us. Save time and reduce errors with automated calculations, and also improve compliance with ird and mpf regulations in hong kong. Retirement investment for employees sun life hong kong. Maturationpromoting factor, or mitosispromoting factor, in cell biology. My choice mandatory provident fund scheme was established in 2010 and is a master trust scheme which consists of fourteen constituent funds.
The information has been prepared for illustration purpose only. As easy as 1,2,3 run payroll in just 3 simple steps with justpayrolls easytouse management dashboard. Compatibility with banks, mpfa, inland revenue department. Sun life mpf, dare to innovate, we work harder to make your hardearned money work harder for you. Select cyberbanking serviceselect cyberbanking service. Mpf comparison provides mpf comparing functions by mpf sponsor, mpf scheme, mpf constituent fund, mpf performance. Please refer to the faq prepared by hong kong trustees association for background and details of aeoi and the impact to mpf schemes. Please read the relevant mpf scheme brochure before you complete the form. Mortgage calculator property valuation tool form and document download. If the contribution day is a saturday, a public holiday, a gale warning day or a black rainstorm warning day, the contribution day is extended to the next following day which is not a saturday, a public holiday, a gale warning day or a black rainstorm warning day.
Dedicated allianz mpf members direct hotline and allianz global investors websitemobile site are available for scheme information, account and investmentrelated enquiries. Most employees and their employers are required to contribute monthly to mandatory provident fund schemes provided by approved private organisations. Massachusetts promise fellowship, a nonprofit organization. Non hong kong residents are responsible for observing all applicable laws and regulations of their relevant jurisdictions before proceeding to access the. Payroll management system hong kong payslip software hk. Mpf scheme we are committed to bringing you and your employees complete peace of mind with our mandatory provident fund services. Mpf contribution calculator useful calculators manulife hk. Please refer to the prospectus of allianz global investors mpf plan or the relevant offering documents for details, including a full description of product features and risk factors. The department is prepared to accept, in the absence of legal precedent to the contrary, the income deduction for making mandatory contributions to a registered mandatory provident fund scheme mpfs has priority over the income deduction for paying tax in default. Free online mpf calculator accurate calculations talenox. Most employees and their employers are required to contribute monthly to mandatory provident fund schemes provided by approved private organisations, according to their salaries and the period of employment. The retirement savings calculator the calculator is based on certain assumptions including the hypothetical data input by the user. Severance payment varies among different companies, please refer to respective rules and regulations for details.
Send your mpf documents, including remittance statements or other instructions through authorised channels to our mpf department for processing. Schroder investment management hong kong limited schroders and sun life hong kong limited sun life entered into a strategic relationship for schroders mandatory provident fund mpf business, which would provide enhanced customer support to clients of the schroder mpf master trust scheme. Calculator on retirement needs please enter the following information to calculate your retirement needs your anticipated monthly expense during retirement include all cost of living, medical expenses, etc. The mandatory provident fund mpf system was introduced by the government of the hong kong special administrative region hksar in december 2000 to assist in the provision of retirement reserve for the workforce. Jul 19, 2018 changes to hong kong mpf pension scheme would mean half a million workers paying more into funds business leaders voice disapproval at scale and timing of rise to contribution cap on. This proportion is estimated to increase to 28 per cent by 2034, and to 33 per cent by 2064. Pension services allianzgi bank consortium trust company limited 18f cosco tower, 183 queens road central, hong kong. Bociprudential won three accolades at the 2019 lipper hong kong fund awards.
Retirement calculator allianz global investors hong kong. Hong kongs leading provider of independent mpf research, ratings, views and opinions. Hong kong mpf contribution calculator for calendar month whether youre an employer or employee, calculate your mandatory mpf contributions including first mpf contribution and contribution holidays. First contribution calculator mpf for employers hsbc hk. From the date onward, selfcertification on scheme members tax residency will be required from all new mpf account holders. Nevertheless, if we have to stick with excel to handle payroll, mpf of hong kong or even appraisal, is there any formula or function from excel can help. Mpfs are mandatory, fully funded and privately managed contribution schemes. The mandatory provident fund mpf is a compulsory pension fund designed by the hong kong government as a major protection scheme for the aged and. Schroders has been providing asset management services for pension clients in hong kong for over 40 years. Our handy retirement calculator helps you check if youre on track to reach your retirement goals so you can make adjustments if you arent. Calculator on retirement needs please enter the following information to calculate your retirement needs your anticipated monthly expense during retirement include all.
Mpf form and guide for employers aia mpf, orso and macau. In august 1995 the government took a major step forward in enacting the mandatory provident fund schemes ordinance the ordinance, providing a formal system of retirement protection through a system of privately managed, employmentrelated mandatory provident fund mpf schemes to accrue financial benefits for members of the. Hong kong island aia wealth select centre 12f, aia tower, 183 electric road, north point, hong kong. Free new tool hong kongs first contribution and monthly. The mandatory provident fund schemes require mandatory contributions to the mpf scheme from both the hong kong employer and the hong kong employee.
Calculator for projecting your mpf accrued benefits. Member services, fund services hong kong hsbc institutional trust services asia ltd p. Employers are required to pay the mandatory contributions for monthlypaid regular employees on the 10th day of each month. Specially for companies under the master trust scheme and regular employees between 18. You give consent for cookies to be used if you continue to browse this website. Mpf scheme brochure for hsbc mandatory provident fund supertrust plus version as of 31 march 2020 mpf scheme brochure for hsbc mandatory provident fund. In hong kong, people are now living longer with a continuing trend of increasing life expectancy. The calculator should not be used to calculate first contributions for employees who transfer employment between companies due to change of business ownership or intragroup transfer, cease employment or attain the age of 65 in a payroll period.
Early withdrawal of accrued benefits on grounds of permanent departure from hong kong. Mpf arrangement for casual employees hsbc hong kong. Service information and mpf documents receiving bank. If you have not yet applied for a password or if you have forgotten your password, please click here if you have forgotten your username, please click here note. The results provided by the calculator are for reference only and are not intended as and cannot be a substitute for professional investment advice, and do not in any way constitute investment advice, guidance or recommendations by sun life hong kong limited. How to calculate number of day of work net of leaves.