Employee Choice Arrangement FAQ


Employee Choice Arrangement FAQ

For Employees
1.When has Employee Choice Arrangement come into effect?
2. How do I exercise my rights?
3. What kinds of MPF asset is retained in a Personal Account?
4. Am I free to choose my own MPF trustee?
5.Under Employee Choice Arrangement, which part of my MPF asset can I freely transfer?
6. What does calendar year mean?
7. How often can I transfer accrued benefits derived from employee mandatory contributions?
8.Will the trustee charge additional fees or service charges when I transfer my accrued benefits?
9.Do I need to notify my employer before I transfer my accrued benefits derived from employee mandatory contributions?
10.How long does it take for a transfer of MPF accrued benefits to be completed?
11.How do I transfer my MPF accrued benefits derived from employee mandatory contributions?
12.What are the factors I need to consider when choosing an MPF trustee?
13.Can I open Personal Accounts with different MPF trustees?
14.How much are the fees and charges of Manulife's MPF constituent funds?
15.How can I obtain the latest updates on Manulife's MPF constituent fund performance?

For Employers

1.Can employees transfer accrued benefits derived from mandatory contributions made by the employer?
2.When Employee Choice Arrangement comes into effect, do employers need to make contributions to the Personal Accounts set up by employees?
3.Will Employee Choice Arrangement affect how severance payments and long-service payments are calculated and paid?
4.Are employers required to help employees choose the MPF schemes of their personal accounts?

For Self-Employed Persons

1.Does Employee Choice Arrangement have any impact on self-employed persons?