Tax Deductible Voluntary Contributions ("TVC") is a form of MPF voluntary contributions that is entitled to tax deduction. You can enjoy tax deductions (up to an annual limit of HKD60,000)1 under salaries tax or tax under personal assessment by making contributions to a TVC account. The balance of your TVC account will be available for withdrawal when you retire at 65, or when you meet other withdrawal conditions which are the same as your mandatory contributions.
You are eligible to contribute to a TVC account under MPF if you are currently a holder of an employee account, self-employed account or personal account of any MPF scheme or if you are a member of an MPF exempted ORSO scheme.
With TVC account, you can:
Enjoy Tax Deduction
Up to HKD60,000 tax deduction1 from your assessable income
Flexibility of Contribution
Contribute as much or as little as you want2
Invest in Your Own Way
Take control on how you invest3 and make the best of your money
Enjoy Further Savings
Receive up to HKD4,500 of bonus unit rebates5 from Hang Seng MPF when you open a TVC account and make TVC contributions or transfer TVC accrued benefits from other MPF schemes to Hang Seng MPF4
Potential tax savings according to the amount of TVC contributions
| Amount of TVC contributions (HKD) | Tax savings under the following progressive tax rate (HKD) | ||||
|---|---|---|---|---|---|
| 2% | 6% | 10% | 14% | 17% | |
| 2,500 | 50 | 150 | 250 | 350 | 425 |
| 5,000 | 100 | 300 | 500 | 700 | 850 |
| 10,000 | 200 | 600 | 1,000 | 1,400 | 1,700 |
| 30,000 | 600 | 1,800 | 3,000 | 4,200 | 5,100 |
| 60,000 |
 maximum tax savings up to maximum tax savings up to |
10,200 | |||
* The information contained in the table is for reference only. The actual tax savings depend on your actual circumstances. If you are in doubt about your own tax status, you should obtain independent professional advice.