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Understanding Your Participating Policy

For Manulife Global Select (MPF) Scheme

Important to note:

You should consider your own risk tolerance level and financial circumstances before making any investment choices. When, in your selection of constituent funds or the Default Investment Strategy (“DIS”), you are in doubt as to whether a certain constituent funds or the DIS is suitable for you (including whether it is consistent with your investment objectives), you should seek independent financial and/or professional advice and make investment choices most suitable for you taking into account your circumstances.
The asset allocation of the Manulife MPF Core Accumulation Fund and the Manulife MPF Age 65 Plus Fund (“DIS CFs”) in the DIS and some of the constituent funds which are referred to as Retirement Funds will change over time and hence the risk profile and return will also change over time. The DIS CFs or the Retirement Funds may not be suitable for all members. You should understand the relevant risks involved before investment and consider factors other than age and review your own investment objectives.
The Manulife MPF Interest Fund and the Manulife MPF Stable Fund (collectively the “Guaranteed Funds”) under the scheme each invests solely in approved pooled investment funds in the form of insurance policy provided by Manulife (International) Limited. The guarantee is also given by Manulife (International) Limited. Your investments in the Guaranteed Funds, if any, are therefore subject to the credit risks of Manulife (International) Limited. Please refer to sections 3.4.2 (Manulife MPF Stable Fund (the “Stable Fund”)) and 7.2.4(b) (Manulife MPF Stable Fund) and sections 3.4.1 (Manulife MPF Interest Fund (the “Interest Fund”)) and 7.2.4(c) (Manulife MPF Interest Fund) of the MPF Scheme Brochure for details of the credit risks, guarantee features and qualifying conditions.
The Manulife MPF Retirement Income Fund (the “Retirement Income Fund”) does not guarantee distribution of dividend, the frequency of distribution, and the dividend amount/yield. Dividends may be paid out of the realized capital gains, capital and/or gross income while charging/paying all or part of the fees, charges and expenses to/out of the capital, resulting in an increase in distributable income available for dividend distribution. Payment of dividends out of capital and/or effectively out of capital represent a withdrawal of part of the original investment or from any capital gains attributable to that original investment. Distribution of dividends will result in an immediate decrease or adjustment in the net asset value per unit of the Retirement Income Fund on the ex-dividend date.
Members who are below age 65 should note that the regular and frequent distribution of dividends and reinvestment of such dividends into the Retirement Income Fund will inevitably involve an investment time-lag during which dividends are not reinvested and it is subject to out-of-market risk on a recurring basis (currently, on a monthly basis). With the feature of dividend distribution, the return of the Retirement Income Fund for these Members may be impacted negatively or positively as its net asset value per unit may have gone up or down at the time when dividends are reinvested. Therefore the return of the Retirement Income Fund for these Members may deviate from that of a constituent fund with similar investment portfolio without such arrangement and may not always be advantageous to these Members.
Investment involves risks and not each of the constituent funds would be suitable for everyone. You should consider the risks associated with each of the constituent funds and the DIS and your investments/accrued benefits may suffer loss.
Before making your investment choices, you should read the MPF Scheme Brochure and Key Scheme Information Document (KSID) for details including risk factors, fees and charges of the scheme. You should not make your investment decision based on this material alone.

Newsroom

Manulife Further Reduces MPF Fees for over Two Million Members¹, Enhancing Their Retirement Outcomes

New fees effective April 1, 2026, aligning with MPFA’s objective to reduce administration fees for MPF schemes

For Immediate Release

April 20, 2026

Hong Kong — MManulife today announced a further reduction in management fees for all 29 constituent funds under the Manulife Global Select (MPF) Scheme (the “Scheme”), effective on April 1, 2026. The initiative reflects Manulife’s support for the Mandatory Provident Fund Schemes Authority’s (MPFA) objective to reduce administration fees across the MPF system, passing the benefits of administration centralization directly on to members.

Starting April 1, over two million Manulife MPF members¹ benefit from a further management fee reduction of 5% to 12% for the 29 Manulife MPF constituent funds², This adjustment marks the second time Manulife has reduced management fees since the Scheme’s onboarding to the eMPF platform in November 2025, resulting in total management fee reductions of 16% to 31%³ across 29 constituent funds under the Scheme.

Privileged rates under the “Manulife Privileged Rates Plus” program (the “Program”) are adjusted in line with the lower rates. As part of this change, all Manulife MPF members who are enjoying discounted rates based on their Total Relationship Balance with Manulife MPF, also receive an 8-basis-point reduction. This includes personal accounts (“PA”) and tax deductible voluntary contributions (“TVC”) accounts⁴ under the Program.

This management fee reduction is implemented in accordance with the MPFA’s objective of passing all operational savings arising from the eMPF platform directly to members, consistent with the MPF legislation’s “straight pass-on” requirement⁵ for cost savings.

Jeanie Ho, Head of Retirement, Hong Kong and Macau at Manulife, said: “Manulife is pleased to see the eMPF Platform progressing steadily, driving greater operational efficiency and delivering meaningful value to MPF members. With lower management fees, members are able to maximize their contributions and invest more effectively towards their long-term retirement goals.”

Jeanie Ho added: “As the number one MPF service provider in Hong Kong⁶, Manulife remains committed to supporting the enhancement of the MPF system while fostering a more cost-efficient environment through our ongoing education efforts and incentive rebate programs, which encourage more active account management and help strengthen long-term investment outcomes.”

Manulife offers a comprehensive range of MPF funds spanning equity, fixed income, balanced and lifecycle strategies to meet the varying needs and life-stage goals of members. The company remains focused on delivering disciplined investment management, operational excellence and enhanced member experience.

Helping people live better is at the core of Manulife’s mission, and the company remains committed to supporting Hong Kong workers in building stronger financial security for retirement.

Per MPFA guidelines, the general fee level charged by the Platform Company has been reduced from 0.37% p.a. to 0.29% p.a., effective April 1, 2026. For details of the changes, members are advised to refer to the relevant MPF scheme brochures and official notices, which are available online.

¹ Source: Manulife internal data as of 31 March 2026

² For details please refer to the Third Addendum (dated 1 April 2026) to MPF scheme brochure for Manulife Global Select (MPF) Scheme available on our website (https://www.manulife.com.hk/content/dam/insurance/hk/en/documents/products/mpf/scheme-brochure.pdf). The percentage reduction is calculated by comparing the fee effective on and after 1 April 2026 with the fee applicable on and after 6 February 2026, expressed as a percentage, i.e. Reduction (%) = (Fee effective on and after 1 April 2026 – Fee applicable on and after 6 February 2026) ÷ Fee applicable on and after 6 February 2026.

³ The percentage reduction is calculated by comparing the fee effective on and after 1 April 2026 with the fee applicable on 6 November 2025, expressed as a percentage.Fees applicable on 6 November 2025 are set out in the Addendum (dated 6 November 2025) to the MPF Scheme Brochure for Manulife Global Select (MPF) Scheme available on our website (https://www.manulife.com.hk/content/dam/insurance/hk/en/documents/products/mpf/scheme-brochure.pdf).

⁴ Manulife Contribution Accounts (“CA”) will be considered in the calculation of the Total Relationship Balance and Loyalty Year under the “Manulife Privileged Rates Plus” program (the “Program”). For members who hold Manulife PA and/or Manulife TVC Account before 6 November 2025 (the Program Launch Date), there will be a transitional arrangement during Year 1 of this Program (6 November 2025 to 31 December 2026), with details set out in a separate announcement and FAQ on Manulife’s customer website.

⁵ Source: Meeting of Panel on Financial Affairs on 14 March 2025; https://www.legco.gov.hk/yr2025/english/panels/fa/papers/fa20250314cb1-351-4-e.pdf

⁶ As of 31 December 2025, Manulife (International) Limited was the No.1 MPF service provider in Hong Kong in terms of market share of total MPF assets by MPF scheme provider. Source: “Mercer MPF Market Shares Report” as of 31 December 2025, by Mercer (Hong Kong) Limited.

About Manulife Hong Kong

Manulife Hong Kong has been a trusted name for more than 125 years, while we have served the Macau market for nearly three decades. Since our operations began in Asia in 1897, we have grown into one of the top-tier providers of financial services, offering a diverse range of protection and wealth products and services to over 2.6 million customers in Hong Kong and Macau. We are committed to helping make decisions easier and lives better for our customers. Manulife Hong Kong and Macau, through Manulife International Holdings Limited, owns Manulife (International) Limited, Manulife Investment Management (Hong Kong) Limited, and Manulife Provident Funds Trust Company Limited. These entities are all subsidiaries of Manulife Financial Corporation.

About Manulife Wealth & Asset Management

As part of Manulife Financial Corporation, Manulife Wealth & Asset Management’s mission is to make decisions easier and lives better by helping people invest confidently to pursue a more secure financial future. Our strength comes from the diversity of our global asset management expertise and distribution capabilities. Our global investment teams span equities, fixed income, alternative credit, private markets, and multi-asset solutions. We provide investment, financial advice, and retirement plan services to millions of individuals, institutions, and retirement plan members worldwide. At the heart of our approach are three cultural pillars: Partner for Progress, Trust through Transparency, and Intellectual Curiosity. These values shape how we build long-term relationships, develop differentiated investment strategies, and empower advisors and clients to seek meaningful financial outcomes. Whether through cutting-edge technology, AI innovation, personalized advice, or sustainable stewardship, Manulife Wealth & Asset Management is a trusted partner helping clients navigate complexity and invest with confidence. Not all offerings are available in all jurisdictions. For additional information, please visit manulifeim.com.

About Manulife

Manulife Financial Corporation is a leading international financial services provider, headquartered in Toronto, Canada. Anchored in our ambition to be the number one choice for customers, we operate as Manulife across Canada and Asia, and primarily as John Hancock in the United States, providing financial advice, insurance and health solutions for individuals, groups and businesses. Through Manulife Wealth & Asset Management, we offer global investment solutions, financial advice, and retirement plan services to individuals, institutions, and retirement plan members worldwide. At the end of 2025, we had more than 37,000 employees, over 106,000 agents, and thousands of distribution partners, serving over 37 million customers with operations across 25 markets globally. We trade as ‘MFC’ on the Toronto, New York, and Philippine stock exchanges, and under ‘945’ on the Hong Kong stock exchange. Not all offerings are available in all jurisdictions. For additional information, please visit manulife.com.

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