Personal Account

Step by Step Guide to Personal Accounts

The introduction of the Mandatory Provident Fund (MPF) system in 2000 created one more major financial decision for Hong Kong employees when they change jobs; whilst the implementation of Employee Choice Arrangement (“ECA”) on November 1, 2012 brought greater autonomy to employees when they manage their MPF assets.

The following simple step-by-step guide helps you decide what to do when you change jobs and when you wish to transfer your MPF accrued benefits.

Step 1 - Understanding Personal Accounts

Personal account may consist of two kinds of MPF assets:

Former Employment Assets

Your MPF accrued benefits derived from former employment are portable at any time. You can move it or keep it where it is. You have 4 basic options for the accrued benefits in your previous employer's MPF scheme:

1. Transfer to a personal account in your previous employer's scheme
2. Transfer to a contribution account in your new employer's scheme
3. Transfer to a personal account in another MPF master trust scheme
4. Transfer to an existing account in an Industry Scheme (if applicable)

Employee Mandatory Contributions under Current Employment

With the implementation of ECA on November 1, 2012, your MPF accrued benefits derived from employee mandatory contributions made during current employment are transferable in one lump sum once every calendar year to a personal account with the MPF service provider and scheme of your own choice. If employees are satisfied with the trustee and scheme chosen by their employers (i.e. original trustee and original scheme), they do not have to make any transfer. 

Step 2 - Choosing A Provider

Now that you have a choice - how do you choose? Here are some important things about Manulife as an MPF provider to consider before making a choice:

* Comprehensive MPF Platform
Convenience & Service
* Reliability

Step 3 - Choosing Funds

When determining your investment portfolios, you have to define your investment goals based on personal considerations and look at factors such as investment objectives and risk factors of the funds, fund features, fees and charges, your risk tolerance level, etc.

* Risk Analysis - An important factor in selecting funds for investment is risk. Consider carefully how much risk you can tolerate.
* Product Overview - Click here to find out more about our scheme and the funds available.

Step 4 - To Find Out More Or Open An Account
You may need more information or be ready to open an account. In either case, please
contact us to take the next step. Or you can download the appropriate form(s) by clicking here.

Investment involves risks.  Please refer to the Offering Document for details including risk factors, fees and charges of the scheme.