Self-Employed

You can check your account balances through any of the following channels:

Logon to HSBC Internet Banking (Personal Customers)

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)

Check your account at HSBC and Hang Seng Bank's ATMs using your ATM card or credit card with HSBC

Consolidated Bank statement (Applicable to HSBC Premier, HSBC Advance or SmartVantage (ie Personal Integrated) customers, and subject to some circumstances. Please refer to the Section 'Consolidated bank statement' in Member Service Guide for the details.)

You should inform us of your new address and any changes in telephone number, etc within 30 days of the change. Please complete a Personal Details Change Form. Download IN91 form.

• Through HSBC Internet Banking or interactive voice response system of the HSBC MPF Member Hotline:

If we receive your instructions through the HSBC Internet Banking or the interactive voice response system of the HSBC MPF Member Hotline at or before 4:00 pm (Hong Kong time) on any business day, your instructions will normally be processed on the same business day. If we receive your instructions after 4:00 pm (Hong Kong time) on any business day, or anytime on a Saturday, public holiday or other non-business days, they will normally be processed on the following business day.

An acknowledgement page (if you make instructions via the HSBC Internet Banking) or recorded voice (if you make instructions via the interactive voice response system of HSBC MPF Member Hotline) will confirm the receipt of your instructions. When your instructions have been successfully processed, we will send a confirmation notice to your internet banking email box (if the instruction is made via the HSBC Internet Banking) or post a confirmation notice to you (if the instruction is made via the interactive voice response system of HSBC MPF Member Hotline).

• Through paper form:

After receiving your properly-completed form, your instruction will normally be processed within five business days. Please note that a confirmation notice will be sent to you after the instruction has been successfully processed.

You can submit the change investment form by mail or placing to 'HSBC MPF Drop-In Box' at designated HSBC branches.
CAUTIONS

• Note

If the processing of your Portfolio Rebalance or Asset Switch instruction is scheduled on any day that (i) the transfer of benefits under Employee Choice Arrangement ('ECA Transfer') is to be processed, or (ii) the refund of long service payment/severance payment ('Refund of LSP/SP') is to be processed, or (iii) on any of the consecutive days that ECA Transfer and/or Refund of LSP/SP are to be processed, the processing of your Portfolio Rebalance or Asset Switch instruction will be postponed to the next business day after the day(s) that such ECA Transfer and/or Refund of LSP/SP is/are being processed.

In any of the above circumstances, the processing of any further Portfolio Rebalance or Asset Switch instruction made before the processing of any prior pending consecutive Portfolio Rebalance instruction(s), Asset Switch instruction(s), ECA Transfer and/or Refund of LSP/SP will be postponed to the next business day after the day(s) that such pending consecutive Portfolio Rebalance instruction(s), Asset Switch instruction(s), ECA Transfer and/or Refund of LSP/SP is/are being processed.

The above processing time is for reference only. HSBC shall not be liable for any delay.

In case of having multiple change investment instructions being submitted for the same processing date for my MPF account, how will they be processed?

In case of having multiple investment instructions being submitted for the same processing date for your MPF account through one or different channels (ie HSBC Internet Banking and/or interactive voice response system), they will be processed at below:

1.  In case of having multiple "Portfolio Rebalance" instructions being submitted:
   • only the last received "Portfolio Rebalance" instruction will be processed
2. In case of having multiple "Asset Switch" instructions being submitted:
   • only the last received "Asset Switch" instruction will be processed
3. In case of having multiple "Contribution Redirection" instructions being submitted:
   • only the last received "Contribution Redirection" instruction will be processed
4. In case of having both "Asset Switch" instruction and "Portfolio Rebalance" instruction being submitted:
   • only the last received "Portfolio Rebalance" instruction will be processed
5. In case of having both "Contribution Redirection" instruction and "Portfolio Rebalance" instruction being submitted:
   
   • existing investments (where relevant) will be processed in accordance with the last received "Portfolio Rebalance" instruction
     
   • new contributions to be received will be invested according to the last received instructions (ie the "Contribution Redirection" or "Portfolio Rebalance" whichever is received later). 

The information provided is for reference only, which may be subject to change without notice. No liability is accepted for any loss or damage arising from any reliance upon such information. 

Can I change my investment allocation to Default Investment Strategy ('DIS')?

Yes, DIS is one of the investment options for you if the features of DIS fit your own circumstances. 

Please inform us by simply completing a Cessation of Self-Employment/ Transfer of Accrued Benefits Notification Form (IN33).

How can I check the unit prices of the MPF funds?

The Fund Information provides you with the unit prices.

Other than the unit prices available on the Internet, where can I check the unit prices?

Current unit prices are also available through these channels:

• 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)
  
• Hong Kong Economic Times
  
• South China Morning Post

How can I check the past performance of the MPF funds?

The cumulative performance of the Fund Information provides you with the past performance histories of the funds.

How are the unit prices determined?

The unit prices are calculated based on the net asset value of each fund, ie the value of investments less fees and charges, divided by the number of units issued. (With the exception of the unit prices for MPF Conservative Fund on or before 30 June 2015, where fees and charges were deducted directly from a member's account by unit deduction.)

What is the MPF Conservative Fund (CPF)?

The MPF legislation requires each MPF scheme to offer a CPF. Our CPF is a low risk fund, investing in high grade Hong Kong dollars denominated monetary instruments such as treasury bills, bills of exchange, commercial paper and certificates of deposits. The investment objective is to achieve a return higher than the average bank savings rate, however returns are not guaranteed.

What are the fees and charges deduction methods an MPF Conservative Fund (CPF) can adopt?

An MPF Conservative Fund may use one of two methods for deduction of fees and charges, namely (i) 'Fund Level Deduction;, that is, deducting the fees and charges from the assets of the MPF Conservative Fund or (ii) 'Member Level Deduction', that is, directly deducting the fees and charges from member's account by way of unit deduction.

From 1 December 2000 to 30 June 2015, the MPF Conservative Fund of HSBC MPF schemes adopted method (ii), that is, deducting the fees and charges from member's account by way of unit deduction.

From 1 July 2015 and onwards, the MPF Conservative Fund of HSBC MPF schemes adopts method (i), that is, deducting the fees and charges from the assets of the fund.

Why are fees and charges for the MPF Conservative Fund (CPF) being deducted from my account?

According to the MPF legislation, fees and charges can be deducted from the CPF only when the investment return is higher than the prescribed savings rate which is regularly published by the MPFA.

From 1 December 2000 to 30 June 2015, the CPF of HSBC MPF schemes adopted method (ii), that is, deducting the fees and charges from member's account by way of unit deduction. The unit prices of the CPF have, therefore, not taken into account the deduction of fees. During that period, the fees for CPF are deducted in the form of units from a member's account only after the investment return and prescribed savings rate for each month are ascertained.

When and how are the fees and charges of the CPF under the HSBC MPF schemes be deducted from July 2015 onwards?

From 1 July 2015, fees and charges accrue on a daily basis, and are reflected daily in the fund's unit prices, net asset value and fund performance quoted.

What is the Guaranteed Fund? (applicable to SuperTrust Plus only)

Our Guaranteed Fund is a low risk fund providing you with a guaranteed interest rate, provided certain conditions are met. If any of the Guarantee Conditions are met on withdrawal or transfer of benefits, members will be entitled to the Actual Balance or the Guaranteed Balance, whichever is greater.

What are the guarantee features and Guarantee Conditions? (applicable to SuperTrust Plus only)

The guarantee in the Guaranteed Fund under HSBC Mandatory Provident Fund - SuperTrust Plus only applies under certain conditions. Please refer to the 'Guarantee Feature' section under 'Guaranteed Fund' in Part II - Fund Structure of the 'Principal Brochure' of HSBC Mandatory Provident Fund - SuperTrust Plus for full details of the guarantee features and Guarantee Conditions, including the guarantee features in the context of payment of benefits in instalments.

What do you mean by crystallisation for the investment in the Guaranteed Fund? (applicable to SuperTrust Plus only)

This is an action that will be performed by the administrator of the HSBC Mandatory Provident Fund - SuperTrust Plus ('Administrator') at the end of each year, starting in 2016. It is for members who have reached the age of 65 and still have investment in the Guaranteed Fund. The Administrator will calculate the Guarantee for these members, equivalent to the amount they would entitled if they had withdrawn their benefits from the Guaranteed Fund on 31 December in that year using grounds that meet the Guarantee Conditions. For details, please click here for the Guaranteed Fund Changes - Crystallisation's FAQs.

What is the current guaranteed interest rate for the Guaranteed Fund? (applicable to SuperTrust Plus only)

The rate for the scheme financial year from 1 July 2016 to 30 June 2017 is 0.125% per annum.

The rate for the scheme financial year from 1 July 2017 to 30 June 2018 is 0.125% per annum.

How often will the guaranteed interest rate change? (applicable to SuperTrust Plus only)

The rate will be reviewed annually and determined at the beginning of each scheme financial year, ie 1 July each year.

Can I invest my MPF monies in HSBC shares or unit trusts?

No. By law, you must invest your MPF monies in the funds offered by the MPF scheme you participate in.

What is the Default Investment Strategy ('DIS')?

The DIS comprises two consistent funds, namely Age 65 Plus Fund ('A65F') and Core Accumulation Fund ('CAF'). DIS is a ready-made investment arrangement mainly designed for those members who are not interested or do not wish to make an investment choice, and is also available as an investment choice itself, for members who find it suitable for their own circumstances. Started from 1 April 2017, for those members who do not make an investment choice when they set up a new MPF account, their new contributions and accrued benefits transferred from another registered scheme will be invested in accordance with the DIS.

The DIS aims to balance the long term effects of risk and return through investing in two constituent funds, namely the A65F and the CAF, according to the pre-set allocation percentages at different ages. The DIS will manage investment risk exposure by automatically reducing the exposure to higher risk assets and correspondingly increasing the exposure to lower risk assets as the member gets older. Such de-risking is to be achieved by way of reducing the holding in the CAF and increasing the holding in the A65F over time. The asset allocation stays the same up until 50 years of age, then reduces steadily until age 64, after which it stays steady again. For further details of the DIS, please refer to the relevant 'Principal Brochure'.

What are the funds included in the Default Investment Strategy ('DIS')?

The DIS consists of two constituent funds, the Core Accumulation Fund ('CAF') and the Age 65 Plus Fund ('A65F').

What are Core Accumulation Fund ('CAF') and Age 65 Plus Fund ('A65F')?

Core Accumulation Fund ('CAF') and Age 65 Plus Fund ('A65F') are the two constituent funds that consist Default Investment Strategy ('DIS'). The CAF provides capital growth to members by investing in a globally diversified manner and will invest around 60% in higher risk assets (generally mean equities or similar investments) and 40% in lower risk assets (generally mean global bonds or similar investments) of its net asset value whereas the A65F provides stable growth for the retirement savings to members by investing in a globally diversified manner and will invest around 20% in higher risk assets and 80% in lower risk assets of its net asset value.

Can I invest my MPF monies in Core Accumulation Fund ('CAF') and/or Age 65 Plus Fund ('A65F')?

Yes. The Core Accumulation Fund ('CAF') and the Age 65 Plus Fund ('A65F') can be standalone investments. Members should note that, if you choose the CAF and/or the A65F as standalone investments (rather than as part of the DIS), the de-risking to automatically reduce the risk exposure as the member approaches retirement age will not be applicable.

Can I withdraw my accrued benefits derived from mandatory contributions?

According to the MPF legislation, you can only withdraw your accrued benefits derived from mandatory contributions when any one of the following circumstances occurs:

• At the age of 65
• Early retirement aged between 60 and 64
• Total incapacity
• Terminal illness
• Death
• Permanent departure from the Hong Kong SAR
• Small balance

With effect from 1 February 2016, you can withdraw your accrued benefits in instalments on the grounds of retirement at age 65 or early retirement at age 60.

If I am now 65 years old and have ceased employment, what should I do with my MPF accrued benefits?

You can choose to withdraw your MPF accrued benefits in a lump sum when you attain the retirement age of 65 or retain them in the existing scheme until you wish to withdraw them. From 1 February 2016, you can choose to withdraw your MPF accrued benefits in instalments on the grounds of retirement at age 65. You may specify the withdrawal amount you wish to withdraw by submitting to us a valid 'Claim Form for Payment of Accrued Benefits on Ground of Attaining the Retirement Age of 65 or Early Retirement' (INPR) together with the necessary supporting document(s).

How do I claim my MPF mandatory benefits?

Making a Claim

Under what circumstances, member can choose to withdraw the MPF accrued benefits in instalments? What should be noted?

From 1 February 2016, members reach the retirement age of 65 or early retirement at age 60 can withdraw their MPF accrued benefits in instalments.

If you choose to withdraw the MPF accrued benefits in instalments, the benefits retain in your accounts will continue to be invested in your chosen constituent fund(s). The values of these assets may change due to market fluctuations and investment risks. In addition, your account will be subject to management fees and other charges based on its total asset value, as usual. If you have invested in a guaranteed fund please refer to the 'Guarantee features' section under 'Guaranteed Fund' in Part II - Fund Structure of the 'Principal Brochure' of HSBC Mandatory Provident Fund - SuperTrust Plus for full details of the guarantee features and Guarantee Conditions, including the guarantee features in the context of payment of benefits in instalments.

Where can I make a statutory declaration?

In Hong Kong, the statutory declaration must be made before and signed by a Commissioner for Oath at either the Public Enquiry Service Centre of the Home Affairs Department, a Notary Public or a Justice of the Peace. A statutory declaration made in a place other than Hong Kong is also acceptable provided that it is made before and signed by a Notary Public or a person authorised under the law of that place to administer an oath or take a statutory declaration.

If a member passes away, to whom will his/her benefits be paid? Can a member designate a beneficiary during enrolment?

By law, the MPF benefits of a deceased member will be payable to his/her personal representative as indicated in a Letter of Probate or Letter of Administration granted by the Probate Registry. Members do not need to designate any beneficiary during enrolment.

Are If a member passes away, how should his/her personal representative claim the benefits?

The personal representative should complete a 'Claim Form for Payment of Accrued Benefits on Ground of Permanent Departure from Hong Kong/Total Incapacity/Terminal Illness/Small Balance/Death [Form MPF(S) - W(O)]' (INPO) and submit it with the following documents to us:

• A copy of the claimant's HKID card for verification of the name and identity card number of the claimant if the claimant does not wish to present the card in person for verification
• A copy of the Letter of Probate or Letters of Administration granted by the Probate Registry / a letter requesting withdrawal of the accrued benefits issued by the Official Administrator if the claim is made by the Official Administrator

Download INPO form

A certified true copy is a duplicated copy which is certified by an authorised party that it has been photocopied from an original document. Claimants can bring along a completed claim form together with all original supporting documents to any of our designated HSBC branches. Our branch staff will assist them in making photocopies and submit the documents to us. Alternatively, the photocopy can be signed by a solicitor or any other person authorised by the laws to make such certification.

How to obtain a Letter of Probate or Letter of Administration?

You can apply to the Probate Registry for the desired form. For details of the application procedures, you may visit the Judiciary website for information about Guide to Court Services (Probate).

How to transfer my MPF accrued benefits from other service providers to HSBC MPF?

Simply complete a Scheme Member's Request for Fund Transfer Form and return it to us. Download INPM form.

If you would also like to apply for a personal account under HSBC, you should complete a Personal Account Holder Application Form (IN81 for SuperTrust Plus or IN88 for ValueChoice) and return it along with your INPM form.

How can I check my existing MPF account information in order for HSBC to process the transfer?

You can review the latest statement from your existing MPF service provider or contact your existing trustee.

How can I speed up the transfer process?

You can attach copies of the latest member benefit statement issued by your existing MPF service provider(s) and your identification document when submitting your transfer request to us, which may facilitate the verification process to be done by the transferor trustee. Please be reminded to tick the box under the Section 'Authorisation and Declaration' of INPM form.

How can I withdraw my voluntary contributions?

Complete a Partial Withdrawal Request Form. Please note the instructions and requirements stated on the form. Download IN22 form.

Are there any restrictions in withdrawing my voluntary contributions?

You may request to withdraw your voluntary contributions up to 12 times in a scheme financial period (from 1 July to 30 June each year), subject to a minimum of HKD5,000 per withdrawal.

Please be aware that you should NOT hand in any MPF documents (in particular for those paper remittance statement and cheque payment (if any) which must be submitted on time according to the MPF legislation) to unauthorised channels. Unauthorised channels include but not limited to:

(1) the staff at service counters at the branches, 
(2) the branches without 'HSBC MPF Drop-In Box', or 
(3) other collection boxes in the branches (for examples, the collection boxes for cheque payment).

Any submission of the MPF documents to unauthorised channels will not be forwarded to the MPF department for processing directly and it may take a longer time for the documents to be transferred to the MPF department. While the receipt date by the MPF department will be stamped only when the documents reach the MPF department, you please be cautious that this will result in delay in receiving and processing the paper remittance statement or other instructions by the MPF department. Any failure to pay mandatory contributions in full and on time to a trustee incurs a 5% surcharge on the outstanding mandatory contributions, along with the possibility of a financial penalty and even imprisonment by the MPFA. You may refer to the MPFA's website www.mpfa.org.hk for further details of offences and penalties.