MPF Services

MPF Services
    MPF Prepares You with a Promising Retirement Life

    To provide the Hong Kong citizens with a comprehensive retirement protection, the Hong Kong Government passed the Mandatory Provident Fund Schemes Ordinance (MPFSO) in 1995, which makes provident fund a required benefit to employees and self-employed persons, to be provided by all local registered employers and self-employed persons.

    Types of MPF Schemes

    MPF scheme is a defined contribution scheme in which employers, employees and self-employed persons have to make contributions.

    In general, there are three types of MPF schemes:

    1. Master Trust Schemes
    • It is a scheme open to all employers.
    • Administration cost can be shared with other employers as the contributions are placed on investment and managed collectively.
    • It is suitable for small-to-medium sized companies and self-employed persons.
    2. Industry Schemes
    • It is a scheme specially designed for industries with high labour mobility, such as the construction and catering industries.
    • Casual employees need not transfer their scheme when switching jobs in the same industry.
    • It avoids the complication of MPF asset transfer because of switching jobs.
    3. Employer Sponsored Schemes
    • It is a scheme to be established by a single employer.
    • Scheme members consist of employees of that particular employer and its associated companies.
    • It is suitable for companies with a large number of employees.
    Professional Services
    • CMB Wing Lung Bank, together 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.
    • Currently, CMB Wing Lung Bank does not conduct any MPF regulated activities and/or provided any MPF regulated advice.
    • 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.
    Know More

    • 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 and conditions, as well as the fee and 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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