MPF Employee Choice Arrangement

What is MPF Employee Choice Arrangement?

Mandatory Provident Fund Authority (“MPFA”) has launched MPF Employee Choice Arrangement on 1st November 2012. It provides employees with more freedom on selection of MPF service provider.

In brief, MPF Employee Choice Arrangement allows employees to transfer out, once a year (1st Jan to 31st Dec), the MPF asset (accrued MPF contribution including investment return) from employee portion at the current MPF contribution account to an MPF trustee of their own choice.

Advantages of MPF Employee Choice Arrangement
  • Employees can have more flexibility on managing their MPF asset.
  • Employees can select MPF service provider and MPF plan freely base on their own needs.
Notes for selection of MPF service provider, MPF plan and MPF asset transfer
  • Consider the independency, professionalism, and service quality of MPF service provider.
  • Consider the fee & charge and choice of MPF plan.
  • MPF asset transfer involves certain risks, including: MPF fund units of the original MPF plan are required to be sold out, the MPF asset is then transferred to the new MPF service provider. It normally takes certain time for completing the whole process of MPF asset transfer, so relevant MPF asset will be out of the investment market for a short period of time. Besides, loss could be occurred as guarantee terms could be voided when executing the MPF asset transfer, if guarantee fund has been selected at the original MPF plan.
Professional Service
  • Wing Lung Bank Limited, together with a number of eminent financial institutions in Hong Kong, established Bank Consortium Holding Limited in 1999. The wholly owned subsidiaries of Bank Consortium Holding Limited, BCT Financial Limited and Bank Consortium Trust Co. Limited, have jointly set up the BCT Group (“BCT”). BCT is one of the major MPF product providers in Hong Kong, focusing on the provision of pension (including MPF & ORSO) products and asset servicing solutions for pensions and investment funds.
  • BCT puts customers in its top priority and is committed to creating value for them. For details of MPF/ORSO products provided by BCT, please visit the website of BCT/ read relevant principal brochure and marketing materials.

Act now
  • Please call BCT Hotline (Member: 2298 9333; Employer: 2298 9388) for more information.
  • Before joining any MPF/ORSO plan, please read relevant principal brochure and marketing documents, so as to get full understanding on the terms & conditions, and fee & charges of relevant product.
Risk Disclosure Statement 

Any person should get full understanding on the plan/product before making decision on MPF/ORSO, and should consult with professional advice when in doubt.

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