What is MPF intermediary?

What is MPF intermediary?

MPF Intermediaries The eService is an electronic platform established by MPFA. MPF intermediaries can view their registration details, pay their annual fees, submit notification of information changes and annual returns via the eService platform. Principal Intermediary Login.

What is MPF service?

MPF is an employment-based retirement protection system. Apart from those who are exempt, employees (regular and casual) and the self-employed who are aged 18 and under 65 are required to join an MPF scheme.

How do I change my MPF provider?

Three major steps to complete a transfer:

1. Complete and submit the Employee Choice Arrangement – Transfer Election Form. You can download the Transfer Election Form or obtain one from any MPF Approved Trustee.
2. Trustees buy/sell fund units.
3. Make sure you receive the transfer documents.

How do I check my MPF record?

You may check your MPF contribution record in the following ways:

1. Manulife Online Service: Log in to Manulife customer website.
2. Phone: Call our Smart Call hotline (852) 2108 1313.
3. Member Benefit Statement: Log in to Manulife customer website to view your e-Member Benefit Statement.

Can I take out my MPF?

According to the MPFSO, scheme members can withdraw their MPF only when they reach the age of 65. Early withdrawal of MPF is allowed under certain specific circumstances, including early retirement, permanent departure from Hong Kong, total incapacity, terminal illness, small balance or death.

Do foreigners pay MPF in Hong Kong?

The basic principle of MPF (the Mandatory Provident Fund) relies on the coverage of people employed in or from Hong Kong. An employee working outside Hong Kong may be covered by the MPF System if there is sufficient connection between the employee and the region of Hong Kong.

Can I transfer my MPF?

The MPF derived from the employees’ mandatory contributions has to be transferred in one lump-sum. Employees cannot transfer the MPF derived from the employer’s mandatory contributions under current employment. Such MPF must be retained in the original scheme until cessation of employment.

How do I withdraw my MPF voluntary contributions?

You may fully or partially withdraw your voluntary contribution under your personal account any time. If you would like to withdraw, you may complete the withdrawal form [PW(PM)-MT](For BCT (MPF) Pro Choice) or [PW(PM)-IS](For BCT (MPF) Industry Choice) and submit to us by post.

How do I check my MPF balance Hong Kong?

How do I check my MPF account balances?

1. Logon to HSBC Internet Banking (Personal Customers)
2. Logon to HSBC HK Mobile Banking app.
3. Call the HSBC MPF Member Hotline on +852 3128 0128 (Please refer to the section ‘HSBC MPF Member Hotline’ in Member Service Guide for the user’s guide)

How do I access my MPF in Hong Kong?

Scheme members may withdraw their MPF in a lump sum or by instalments….Scheme members may make the statutory declaration outside Hong Kong provided that the declaration is made before, signed and sealed (if applicable) by:

1. a Notary Public; or.
2. a person authorised under the law of that place to administer an oath; or.

What happens to my MPF when I leave Hong Kong?

If you’re leaving permanently, you can withdraw your accrued MPF benefits as a tax-free lump sum. You must declare that you have no plan to return to Hong Kong for employment, and provide evidence that you’re permitted to reside elsewhere. The relevant application can be found on the MPF website (mpfa.org.hk).

Is MPF compulsory in Hong Kong?

The system is mandatory for all employees in Hong Kong who have an employment contract of 60 days or more and applies also to the self-employed between ages 18 and 65. Total contributions are capped at HK$1,500 a month. Employees and self-employed are required to contribute 5% of their earnings to their MPF fund.

What is the MPF intermediaries examination?

The MPF Intermediaries Examination has been recognised by the Mandatory Provident Fund Schemes Authority (MPFA) for the purpose of enabling candidates to meet the examination requirement for being an MPF intermediary. All MPF intermediaries are required to pass a MPF examination recognised by the MPFA.

What is the MPF eService?

The eService is an electronic platform established by MPFA. MPF intermediaries can view their registration details, pay their annual fees, submit notification of information changes and annual returns via the eService platform.

When do I need to register with MPFA?

Registration with MPFA is required for all persons who engage in any of the following MPF sales and marketing activities (i.e. regulated activities) in the course of their employment, conducting business or for reward: inviting or inducing, or attempting to invite or induce, another person to make specific decisions on managing his/her MPF; or

How can mermercer help with MPF scheme governance?

Mercer offers a simple effective solution for MPF scheme governance which can help you enhance employee engagement with the retirement plan. By appointing Mercer as your MPF intermediary, we can provide a selection of core services including: