You can check your account balance(s) through any of the following channels:
You do not need to apply for an MPF phone PIN. It is issued to you automatically after your enrolment. If you previously have an MPF account with Hang Seng MPF and the PIN has been issued to you, the same PIN will apply to all of your subsequent new MPF accounts which carry the same MPF membership number. No new PIN will be reissued automatically under normal circumstances. If necessary, you may request for a new one by calling the Hang Seng MPF Service Hotline on 2213 2213, select preferred language and then press #. Hang Seng MPF customer service representatives will be happy to arrange a new PIN and post it to you.
Please call the Hang Seng MPF Service Hotline on 2213 2213, select preferred language and then press #. Hang Seng MPF customer service representatives will be happy to arrange a new PIN and post it to you.
You can check the unit prices of MPF funds through the following channels:
Unit prices are calculated based on the net asset value of each fund, i.e. the value of investments less fees and charges, divided by the number of units issued. (With the exception of the unit prices of the MPF Conservative Fund on or before 30 June 2015, where the fees and charges of the MPF Conservative Fund are deducted directly from a member's account.)
Our Guaranteed Fund is a low risk fund providing you with a guaranteed interest rate, provided certain conditions are met. If any of the Guarantee Conditions are met on withdrawal or transfer of benefits, members will be entitled to the Actual Balance or the Guaranteed Balance, whichever is greater.
The guarantee in the Guaranteed Fund only applies under certain conditions. Please refer to the 'Guarantee Feature' section under 'Guaranteed Fund' in Part II - Fund Structure of the 'Principal Brochure' of Hang Seng Mandatory Provident Fund – SuperTrust Plus for full details of the guarantee features and Guarantee Conditions, including the guarantee features in the context of payment of benefits in instalments.
The DIS consists of two constituent funds, the Core Accumulation Fund (‘CAF’) and the Age 65 Plus Fund (‘A65F’).
The CAF and the A65F are the two constituent funds that consist the Default Investment Strategy (‘DIS’). The CAF provides capital growth to members by investing in a globally diversified manner and will invest around 60% in higher risk assets (generally mean equities or similar investments) and around 40% in lower risk assets (generally mean global bonds or similar investments) of its net asset value whereas the A65F provides stable growth for the retirement savings to members by investing in a globally diversified manner and will invest around 20% in higher risk assets and around 80% in lower risk assets of its net asset value.
Yes. The CAF and the A65F can be standalone investments. Members should note that, if you choose the CAF and/or the A65F as standalone investments (rather than as part of the DIS), the de-risking to automatically reduce the risk exposure as the member approaches retirement age will not be applicable.
There is no limit to the number of fund switches that can be carried out per year, and there are no handling charges. However, we would like to remind you that the objective of the MPF is to save for retirement and so your investment objectives should be long term, depending upon your personal circumstances.
Change investment instruction via Personal e-Banking or Interactive Voice Response System of the Hang Seng MPF Service Hotline:
If we receive your change investment instruction at or before 4:00 pm (Hong Kong time) on any business day, it will normally be processed on the same business day.
If we receive your change investment instruction after 4:00 pm (Hong Kong time) on any business day, or anytime on a Saturday, public holiday or other non-business day, it will normally be processed on the following business day.
Through paper form:
After receiving your properly-completed form, your instruction will normally be processed within five business days.
Please note that if the processing of your change investment instruction is scheduled on any day that
(i) the transfer of benefits under Employee Choice Arrangement ("ECA Transfer") is to be processed, or
(ii) the refund of long service payment/severance payment ("Refund of LSP/SP") is to be processed, or
(iii) the claim of accrued benefits on the ground of attaining the retirement age of 65 in a lump sum or on the ground of terminal illness or partial withdrawal of voluntary contributions (“Withdrawal of benefits”) is to be processed, or
(iv) on any of the consecutive days that ECA Transfer, Refund of LSP/SP and/or Withdrawal of benefits is/are to be processed,
the processing of your change investment instruction will be postponed to the next business day after the day(s) that such ECA Transfer, Refund of LSP/SP and/or Withdrawal of benefits is/are being processed.
In any of the above circumstances, the processing of any further change investment instruction made before the processing of any prior pending consecutive Portfolio Rebalance instruction(s), Asset Switch instruction(s), ECA Transfer, Refund of LSP/SP and/or Withdrawal of benefits will be postponed to the next business day after the day(s) that such pending consecutive Portfolio Rebalance instruction(s), Asset Switch instruction(s), ECA Transfer, Refund of LSP/SP and/or Withdrawal of benefits is/are being processed.
The above processing time is for reference only. Your change investment instructions will be processed as soon as possible, however HSBC Group shall not be liable for any delay.
If No. 8 or above gale/ storm signal and/or black rainstorm warning signal (‘Warning Signal’) is hoisted before 9 am and still in force at 12 noon on a business day, the processing of change investment instructions scheduled on that business day will be postponed to the next business day.
If the Warning Signal is hoisted after 9 am or is cancelled at or before 12 noon, the processing of change investment instructions scheduled on that business day will continue according to normal procedures.
The above arrangement is provided for reference only and may be subject to change from time to time without notice.
Yes, the DIS is one of the investment options for you if the features of the DIS fit your own circumstances.
According to the MPF legislation, you can only withdraw your accrued benefits derived from mandatory contributions when any one of the following circumstances occurs:
With effect from 1 February 2016, you can withdraw your accrued benefits in instalments on the grounds of retirement at age 65 or early retirement at age 60.
You may claim your accrued benefits derived from mandatory contributions under any one of the following circumstances:
With effect from 1 February 2016, you can withdraw your accrued benefits in instalments on the grounds of retirement at age 65 or early retirement at age 60.
To make your claim, you need to complete the below relevant form and provide us with relevant supporting document(s) listed in the form.
|Reasons for claiming accrued benefits||Claim Form||Supporting Form (The relevant form can be downloaded from the MPFA’s website at www.mpfa.org.hk)|
|Early retirement between 60 and 64||MPF(S)-W(SD1)
|Small balance||MPF(S)-W(SD3) / MPF(S)-W(SD4)*
Please use the Chinese version of declaration form if you would read the jurat in Chinese
*For committee of the estate on behalf of mentally incapacitated scheme member
From 1 February 2016, members reach the retirement age of 65 or early retirement at age 60 can withdraw their MPF accrued benefits in instalments.
In Hong Kong, the statutory declaration must be made before and signed by a Commissioner for Oath at either the Public Enquiry Service Centre of the Home Affairs Department, a Notary Public or a Justice of the Peace. A statutory declaration made in a place other than Hong Kong is also acceptable provided that it is made before and signed by a Notary Public or a person authorised under the law of that place to administer an oath or take a statutory declaration.
By law, the MPF benefits of a deceased member will be payable to his/her personal representative as indicated in a Letter of Probate or Letter of Administration granted by the Probate Registry. Members do not need to designate any beneficiary during enrolment.
The personal representative should complete a 'Claim Form for Payment of Accrued Benefits on Ground of Permanent Departure from Hong Kong/Total Incapacity/Terminal Illness/Small Balance/Death [Form MPF(S) - W(O)]' (HAPO) and submit it with the following documents to us:
You can apply to the Probate Registry for the desired form. For details of the application procedures, you may visit the Judiciary website at www.judiciary.hk for information about Guide to Court Services (Probate).
You can change your voluntary contributions directly on the Remittance Statement.
Regardless of the size of your business profits, you must enrol into an MPF scheme if you are a self-employed person between the ages of 18 and 65. However, you are not required to make mandatory contributions to the MPF scheme if your relevant income is less than the minimum relevant income level or if you sustain a net loss in relation to your business.
Your choice of payment frequency will apply to a whole scheme financial year, ie 1 July to 30 June each year. You can change it in May each year together with your declaration of relevant income, and the new arrangement will take effect from the next financial year.
You can choose one of the options below. Your options include:
As you are accumulating your funds for retirement purpose, it is important that you consider the long term financial strength and security of the MPF service providers when making your decision.
The 'Closing balance' is the dollar value of your MPF accounts, calculated based on the unit price, as at the last business day of June 2017, i.e. 30 June 2017.
For other constituent funds, the 'Adjusted closing balance' is equal to the 'Closing balance'.
Yes. We will deliver the member benefit statement to you as long as you remain as our scheme member as at 30 June 2017. There is a section on the statement to remind you of the alternatives to handling your MPF accrued benefits in the scheme.
You may refer to the 'Total Contribution Invested' field under the 'Summary of Account Movements' or 'Accrued Benefit Summary' section for the contributions made for your Hang Seng MPF accounts in the scheme financial period. You may also refer to the 'Contribution Summary' section for details.
You may refer to the 'Accrued Benefit Summary' section for details. The total contributions made by yourself since you joined the scheme are shown as 'Total contribution/Total transferred-in since inception' in the 'Member' column.
The ‘Opening balance’ is zero, as the account in SuperTrust Plus was set up on or after 1 July 2016. The 'Total contribution/Total transferred-in since inception' shows the summation of total contributions made to and the accrued benefits transferred to the scheme in SuperTrust Plus. The accrued benefit transferred to SuperTrust Plus is calculated according to the unit price of the investment fund(s) at the date of scheme transfer.
The total contributions made in ValueChoice scheme is HKD8,000.00 and 560.000 units of Global Bond Fund have been bought. Unit price of Global Bond Fund at date of transfer is HKD11.50. So, accrued benefit transferred to SuperTrust Plus is HKD6,440.00 (i.e. 560.000 units x HKD11.50).
The total contributions made in the SuperTrust Plus scheme is HKD8,000.00. 'Total contribution/Total transferred-in since inception' shown in the 'Accrued Benefit Summary' of SuperTrust Plus would be HKD14,440.00 (i.e. HKD6,440.00 + HKD8,000.00).
You can simply logon Personal e-Banking, click the "View MPF e-Statement/e-Advice" tab under the "MPF e-Statement/e-Advice" section of "MPF Services", and view the electronic MPF Member Benefit Statement.
The electronic MPF Member Benefit Statement will be provided in multiple files on the ‘MPF e-Statement/e-Advice’ page of Personal e-Banking. The file of 'Summary of Account Movements’ of all MPF accounts will be listed at the top for the relevant scheme financial period. Then, individual file of Member Benefit Statement will be provided separately in sequence for your all MPF accounts. Finally, enclosures of MPF Member Benefit Statement will be listed last for the relevant scheme financial period. Please be reminded to access all files of MPF Member Benefit Statement for the relevant scheme financial period from the ‘MPF e-Statement/e-Advice’ page of Personal e-Banking.
You can refer to the 'Statement – Enclosure of MPF Member Benefit Statement' which includes different enclosures with its relevant hyperlinks in the electronic version and click the relevant hyperlink to access the content of enclosures of the MPF Member Benefit Statement.
Scheme members with more than one Hang Seng MPF account will receive all their member benefit statements in one envelope, mailed to the most recently updated address in Hang Seng MPF records.
The asset allocation shows the constituent fund balance of each individual constituent fund of MPF account as at 30 June 2017.
It shows the total contribution or/and transfer-in accumulated from the date you joined the scheme to 30 June 2017. Any withdrawals of funds from your account are not reflected.
The 'Opening balance' is the dollar value of your MPF accounts as at 1 July 2016 which is equal to the closing balance of last year's statement. If the account was set up on or after 1 July 2016, the 'Opening balance' would be zero.
The unit price of 30 June 2017 (the last business day of June 2017) is used for calculating the 'Closing balance'.
Your benefits accrued from previous employment or self-employment and transferred from other scheme(s) to this scheme are presented under the sub-account of 'Contributions of former employment'.
'Guarantee charge rebate' refers to the guarantee charge in Guarantee Fund which has been rebated in the form of fund units to MPF account after crystallisation.
The 'Employee Choice Arrangement' was effective on 1 November 2012. If self-employed person has transferred the accrued benefits derived from former employment to their contribution accounts under current employment, he/she could also transfer these benefits to the MPF scheme of their own choices at any time.
This item was added to 'Accrued Benefit Summary' section.
You can obtain the information by submitting a signed written request to the following address:
Retirement Benefits Administration
HSBC Life (International) Limited
P O Box 73770
Kowloon Central Post Office
Please note that you should state your full name, relevant employer ID, membership number(s) or HKID/passport number in your signed written request. If you wish to obtain the MPF transfer-in/out, withdrawal and details of transactions for more than one MPF account, please provide the respective employer ID and membership number of those accounts. Please be reminded that your signature must be the same as your last submitted specimen.
You can obtain a Fund Fact Sheet for other quarters at our MPF website hangeng.com/empf, or contact our Hang Seng MPF Service Hotline at 2213 2213.
You may refer to the 'Investment returns' in the 'Accrued Benefit Summary' section. The amounts are calculated based on the unit prices as at the last business day of June 2017, i.e. 30 June 2017 and are for reference only. The actual investment returns can be ascertained only when the benefits are paid out or transferred.
The amount of the 'Account(s) gain/loss during the period' is calculated by subtracting the opening balance and other transactions (excluding special bonus, bonus unit rebate and guarantee charge rebate (if any)) during the scheme financial year from the closing balance as at 30 June 2017.
The unit price for the Balanced Fund as at 30 June 2017 (the last business day of June 2017) is HKD17.08 and the number of units held in Balanced Fund is 4,987.762 units, therefore the closing balance is HKD85,190.98 (i.e. 4,987.762 units x HKD17.08).
Account(s) gain/loss during the period =
Closing balance – Opening balance – Total contribution invested – Total amount transferred into scheme + Total amount transferred out of or withdrawn from scheme (after fees)
HKD85,190.98 – HKD43,431.76 – HKD12,000.00 – HKD24,311.00 + HKD673.30 = HKD6,121.52
|Opening balance (as at 1 July 2016)||(a)||43,431.76|
|Total contribution invested||(b)||12,000.00|
|Total amount transferred into scheme(s)||(c)||24,311.00|
|Total amount transferred out of or withdrawn from scheme(s) (after fees)||(d)||673.30|
|Account(s) gain/loss during the period||(e) = (f) – (a) –(b) – (c) + (d)||6,121.52|
|Closing balance (as at 30 June 2017)||(f)||85,190.98|
Fees and charges of an MPF Conservative Fund can be deducted from either (i) the assets of the fund or (ii) the members' account by way of unit deduction. From 1 July 2015, fees and charges deduction method of MPF Conservative Fund of Hang Seng MPF schemes has changed from method (ii) to method (i). Therefore, the unit prices, net asset value (NAV) or fund performance of MPF Conservative Fund quoted have reflected the impact of fees and charges for the period starting from 1 July 2015. Before 1 July 2015, the fees and charges for MPF Conservative Fund under Hang Seng MPF schemes are deducted in the form of units from a member's account only after the investment return and prescribed savings rate for each month are ascertained.
The 'Summary of Account Movements' shows the overview of total amount move in and out of your Hang Seng MPF account(s) within the current scheme financial year.
'Account(s) gain/loss during the period' shows the dollar value of overall account gain/loss of your MPF accounts, including 'special bonus', 'bonus unit rebate' and 'guarantee charge rebate’, if applicable, for the current scheme financial year only.
'Account(s) gain/loss since inception' reflects the overall account gain/loss of your MPF accounts since you first joined that MPF account, which also includes 'special bonus', 'bonus unit rebate', ‘guarantee charge rebate’ and 'unit deduction (for expenses of constituent fund)' for MPF Conservative Fund, if applicable.
The amount of the 'Account gain/loss since inception' is calculated by adding the 'investment returns', 'special bonus', 'bonus unit rebate', ‘guarantee charge rebate’ and minus 'unit deduction (for expenses of constituent fund)' for the MPF Conservative Fund (if any) of all years starting from the first day you joined that MPF account.
'Account gain/loss since inception' = all years' 'Investment returns' + all years' 'Special bonus', all years’ 'Bonus unit rebate' and all years’ ‘Guarantee charge rebate’ - all years' 'Unit deduction (for expenses of constituent fund)’ for the MPF Conservative Fund'
If a scheme member's MPF account does not have any fund balances and transactions during the scheme financial year from 1 July 2016 to 30 June 2017, we will issue a statement explaining some possible circumstances that may result in a zero balance.
The information contained above is for reference only and the provisions in the MPF legislation and announcements by the Mandatory Provident Fund Schemes Authority shall prevail. If you are in doubt about the meaning or the effect of the above contents, please seek independent professional advice.
Issued by Hang Seng Bank Limited
|Hang Seng MPF Hotline||MPF Specialists at Designated Branches|
|Existing MPF Customers||Service hours:Mon - Fri,9 am to 5 pm|
|- Employers: 2288 6822|
|- Members / Self-employed persons: 2213 2213|
|- HKSARG Employees: 2269 2269|
|Non-existing MPF Customers|
|- Enquiries / Apply for Hang Seng MPF: 2997 2838|