Manulife Global Select (MPF) Scheme. Member Operation Manual 1 / 26

Transcription

1 Manulife Global Select (MPF) Scheme Member Operation Manual 1 / 26

2 TABLE OF CONTENTS PREFACE SECTION 1: INTRODUCTION 1.1 Our Product 1.2 Welcome to Manulife SECTION 2: MPF CONTRIBUTIONS 2.1 Employee Member Mandatory Contributions Relevant Income Calculation of Mandatory Contributions Your First Mandatory Contribution Voluntary Contributions Contribution Due Date Checking Your Contributions Status Tax Deduction Entitlement Offsetting of Long Service Payments / Severance Payments 2.2 Self-Employed Scheme Member Your Relevant Income and Contribution Making Contribution Payment Handling Suffer of Loss Tax Deduction Entitlement SECTION 3: MANAGING YOUR MPF ACCOUNT 3.1 Know Your Benefit Member Benefit Statement Fund Updates and Newsletter Investment Seminar Electronic Services 3.2 Fund Choice Management A Wide Array of Funds for Your Choice Monitoring Fund Performance How to Perform Fund Switching Fund Switching Confirmation Notice SECTION 4: WITHDRAWAL AND TRANSFER OF ACCRUED BENEFITS 4.1 Withdrawal of Accrued Benefits Grounds for Withdrawal Withdrawal Options 4.2 Transfer of Accrued Benefits SECTION 5: PERSONAL ACCOUNT 5.1 Consolidating your MPF Accrued Benefits 5.2 Setting Up A Personal Account with Manulife 2 / 26

3 SECTION 6: ADMINISTRATIVE FORMS SECTION 7: MANULIFE AT YOUR SERVICE 7.1 Member Smart Call (852) Member Hotline (852) Manulife Customer Website 7.4 Manulife MPF/Pension Mobile App 7.5 Customer Contact Center 7.6 Office of Employee Benefits Department 7.7 Quality Intermediary Service 3 / 26

4 PREFACE On behalf of Manulife Provident Funds Trust Company Limited, we would like to thank you for joining our MPF scheme. With the commencement of the MPF system in the Hong Kong SAR in December 2000, it is important for you to understand and know your privileges and interests under the MPF system. To this end, Manulife has therefore prepared this manual to provide reference for you to manage your MPF account. We hope you will find this manual useful. Should you have any query, please call our Member Hotline on (852) for assistance. Employee Benefits - Provident Funds Services Manulife (International) Limited April 2018 This manual is compiled by Manulife taking into account the requirements of the Mandatory Provident Fund Schemes Ordinance (MPFSO), Regulations and Guidelines. The terms therein may have been defined under the MPFSO. Manulife reserves the right to amend and update its content from time to time to reflect the most updated regulatory requirements as well as our administration arrangements that you need to know as a member. The content of this manual does not serve to provide any legal advice in relation to MPF matters.. Manulife will not be held liable for the responsibilities arising from the misinterpretation of the content of this manual. To safeguard your rights and interests, you are advised to seek independent professional or legal advice, or refer to the MPFSO for details. 4 / 26

5 SECTION 1: INTRODUCTION 1.1 Our Product Manulife offers a master trust scheme, Manulife Global Select (MPF) Scheme, whereby employers and their employees, self-employed persons and other eligible persons may participate. For details about the scheme structure and other features, please refer to the Offering Document for the scheme. 1.2 Welcome to Manulife When you have successfully enrolled as a member of the Manulife MPF Scheme, you will receive: For Employee Member A Notice of Participation For Self-Employed Scheme Member A Notice of Participation; A Direct Debit Authorization Form if you have not applied for autopay service For Personal Account Member A Notice of Participation if you are a new scheme member To enjoy Manulife s wide array of services on web, you are advised to visit our website Please go to Section 7 for details about Manulife Customer Website. You can also download the "Member Online Service Guide" for a summary of our services at a glance. SECTION 2: MPF CONTRIBUTIONS 2.1 Employee Member Mandatory Contributions In addition to your Mandatory Contribution of 5% of your relevant income, your employer is also required to contribute 5% of your relevant income to your MPF account, subject to the statutory minimum and maximum relevant income levels. 5 / 26

6 2.1.2 Relevant Income Relevant income means any wages, salary, leave pay, fee, commission, bonus, gratuity, perquisite or allowance. Included as relevant income should only be those which are expressed in monetary terms and which are paid or payable by the employer to you in consideration of your employment. Those rewards which are not in monetary terms, such as severance payments, long service payments, will not be included as relevant income Calculation of Mandatory Contributions Minimum Relevant Income Level If your relevant income is less than the minimum level shown in table 1 below, your employer must still pay mandatory contribution equivalent to 5% of your relevant income. However, you are not required to make mandatory contribution. If you elect to make a contribution, this can be made as a voluntary contribution. Maximum Relevant Income Level If your relevant income is more than the maximum level shown in table 1 below, the mandatory contributions by both you and your employer are limited to 5% of the corresponding maximum income level as shown. However, if either party contributes any amount in excess of the said 5%, it can be made as voluntary contributions. Table 1. Minimum / Maximum Levels of Relevant Income and Mandatory Contributions for Various Payroll Frequencies Payroll Frequency Daily (or more frequent than on a monthly basis) Minimum Level of Relevant Income $ (x no. of days in the contribution period) Maximum Level of Relevant Income $1,000 (x no. of days in the contribution period) Monthly $7, $30,000 Table 2 below sets out a few examples showing the amount of Mandatory and Voluntary Contributions by you and your employer based on various relevant income levels. Table 2. Illustration of Contribution Calculation Based on Minimum and Maximum Relevant Income Level Assumption: The payroll frequency is monthly and contribution period commences on or after 1 st June Monthly Relevant Income Mandatory Contribution Voluntary Contribution Employer Employee Total Employer Employee $6, $ $0 # $ $7, $ $ $ $40, $1,500.00* $1,500.00* $3, Optional # Employee does not need to make any mandatory contribution as his/her relevant income is below $7,100 (with such minimum relevant income level effective 1 Nov 2013). 6 / 26

7 *Both the employer and employee mandatory contributions are capped at HK$1,500 (due to the ceiling of relevant income of HK$30,000 despite 5% of HK$40,000 is over HK$1,500) Your First Mandatory Contribution If you are a non-casual employee, your employer is required to make contributions for you starting from the first day of employment. However, you are only required to make contributions from the first day of the complete payroll period immediately following your first 30 days of employment. For a casual employee, both you and your employer are required to make contributions from the first day of employment Voluntary Contributions You can authorize your employer to deduct voluntary contributions from your relevant income. Your employer will then arrange the deduction and remittance of such voluntary contributions for you Contribution Due Date Your employer should submit the required contributions to Manulife no later than 10 days after the last day of a) a calendar month within which the relevant contribution period ends; or b) the month during which the permitted period ends; whichever is the later. The Permitted Period is 60 days or 10 days from the date of employment for Non-Casual Employee and Casual Employee respectively. If the contribution day falls on a Saturday, a public holiday, or a gale/black rainstorm warning day, the contribution day is extended to the next following day which is not a Saturday, a public holiday, or a gale/black rainstorm warning day Checking Your Contribution Status Your employer is required by law to provide a pay-record to you within 7 working days after the mandatory contributions are made. Information on the pay-record includes your relevant income, the amount and date of mandatory and voluntary contributions (if any) made to Manulife. You can also check the latest contributions made by your employer through our website at or download our MPF/Pension Mobile App to review your contribution history for the past 24 months. 7 / 26

8 2.1.8 Salary Tax Deduction Benefit Employees will be entitled to a salary tax deduction for the mandatory contributions made to the scheme up to a permitted maximum level. The maximum deduction amount for each year of assessment is: Table 3 Year of assessment Maximum deduction (HK$) 2008/09 to 2011/12 12, /13 14, /14 15, /15 17, /16 onwards 18,000 Source: GovHK government website Offsetting of Long Service Payments (LSP) / Severance Payments (SP) Your employer should settle the LSP/SP with you. However, your employer can offset the amount of LSP/SP against the accrued benefits attributable to the employer contributions to which you are entitled. If the amount of employer contributions to which you are entitled exceeds the amount of LSP/SP, the remaining balance after offsetting under the employer contributions will be retained in your account. The amount withdrawn from the vested accrued benefits for offsetting LSP / SP is in the following sequence: a. the vested portion of the employer's contribution in the ORSO Scheme with Manulife b. the vested portion of the employer's MPF voluntary sub-account c. the employer's MPF mandatory sub-account 8 / 26

9 2.2 Self-Employed Scheme Member Your Relevant Income And Contribution Relevant Income The relevant income of a self-employed person is basically linked to his assessable profits calculated in accordance with the Inland Revenue Ordinance. Start The following is a guide to help you determine the relevant income, depending on the supporting documents you have. Will you make contribution based on the maximum level of relevant income Yes No Can you provide the most recent Notice of Assessment as proof of relevant income? (the issue date should be less than 2 years from the date on which the notice is presented) Yes No Submit a relevant income declaration and specify the amount according to one of the following where applicable: (i) the basic allowance within the meaning of Section 28 of the IRO (Cap.112); or (ii) the amount equal to your assessable profits as calculated under the Part IV or the IRO (Cap.112) No need to provide any declaration or proof Submit a copy of Notice of Assessment ONLY (the relevant income is the assessable profits on the Notice of Assessment) Calculation of Mandatory Contribution You are required to contribute 5% of your relevant income as mandatory contributions. The relevant income based on which mandatory contributions be made is prescribed under the MPFSO as set out in the following table. Such maximum and minimum levels are subject to regular review by the MPFA, and the corresponding legislative amendment. Table 4 Relevant Income Level Maximum level of Relevant Income Minimum level of Relevant Income $30,000 per month ($360,000 per year) $7,100 per month ($85,200 per year) 9 / 26

10 Declaration of Relevant Income You should report your relevant income to Manulife at least 30 days before the end of each financial period of the MPF scheme. The financial year of your Manulife MPF Scheme is from 1st April to 31st March of the following year. Below is an illustration: Voluntary Contributions You can make voluntary contributions to your MPF scheme at your own discretion. Please specify the desired voluntary contributions on the "Confirmation of Relevant Income" package you receive in January each year. We will arrange to collect your new voluntary contribution for the upcoming scheme year according to your specified amount Making Contribution Payment Contribution Due Date Table 5 Contribution period: The contribution period covers the first day to the last day of the month Contribution due date: Contribution Frequency If Paying Monthly If Paying Annually Each year from 1st April to 31st March of the following year The end date of the contribution period If you join the scheme on a day other than 1st April, the first contribution period is from the date you join to the scheme financial year end day 10 / 26

11 Payment Methods You can choose to pay your contributions using Autopay, Cheque or PPS. The following table describes the relevant details for each method. Table 6 Payment Methods Autopay Cheque ^ PPS ^ Points to Note a) Pre-requisite set up procedure: Complete the Direct Debit Authorization ( DDA ) form & return it to Manulife. It normally takes 3-6 weeks to complete a DDA set up. b) You will receive a letter in April each year (in March each year if you pay yearly) from Manulife informing you of the date and amount of contribution to be debited from your bank account monthly (or annual contribution if you pay yearly). c) The amount of contribution will be debited from your account accordingly. a) You will receive a payment advice from Manulife monthly or yearly b) Refer to the amount of contribution on the payment advice and: issue a crossed cheque payable to 'Manulife Provident Funds Trust Company Limited'; write the member account number on the back of the cheque; send the cheque and payment slip to P.O.Box 12246, General Post Office, Hong Kong c) Please note that post-dated and electronic cheques are not accepted a) You will receive a payment advice from Manulife monthly or yearly b) Refer to the amount of contribution on the payment advice and make payment through a touch-tone phone or via internet Bill Payment by phone: Bill payment via internet: Merchant Code: 9351 PPS Information Hotline: c) No need to return the payment slip ^ For payment by cheque or by PPS: If you pay monthly, the monthly payment advice will be issued to you 14 days before each contribution due date. Please settle the contribution before the due date. If you pay yearly, the annual payment advice will be issued to you on the 1 st of March, approaching the end of the contribution period. Please settle the contribution before the due date by the end of March. 11 / 26

12 Change of Payment Method In case you need to change your autopay bank account number or method of payment, please: 1. Complete and return a "Change of Payment Method / Autopay Bank Account" form to Manulife. 2. Continue the prevailing payment method until the new method or autopay account is effected. For autopay, it usually takes about 3 to 6 weeks to set up the direct debit authorization with your bank. Until you receive the confirmation from Manulife informing that the autopay is in effect, please pay your contributions according to your current payment method Handling Suffer of Loss Suspension of contributions The chart below lists out the conditions when you are eligible to claim 'Suffer of Loss', the documents that are required to apply for suspension of payment of contributions, the impact on your mandatory and voluntary contributions, and the need to report your relevant income at the end of the scheme year. Table 7 When can I claim that my business has sustained a loss? Eligibility If a net loss is resulted from all your businesses, including your share of the results of all your partnership businesses Documents Required You should send a statement showing the computation of the amount of net loss in respect of your business. The loss should only be based on results of your latest complete financial period concerned, i.e. from 1st of April to the 31st of March of the following year. No loss can be brought forward to offset any profits in relation Application for Suspension of Contribution Reporting of relevant income to other financial periods of the business. You may apply for suspension of payment of mandatory contributions. Upon application approval, contributions including voluntary contributions will be suspended (No refund on prior contributions). After suspending contributions, you are still required to report the relevant income to Manulife at least 30 days before the end of each scheme year i.e. 31st of March. Simply follow the instructions on our notice which will be sent in January of each year and submit the evidence of relevant income accordingly. 12 / 26

13 Resuming Mandatory Contributions Once you receive a Notice of Assessment showing profits, you should send a copy of it to Manulife immediately, indicating your name and member account number. If the amount of profits is equal to or more than HK$85,200 per annum, you should make mandatory contributions in the same manner as before. In other words, you should pay contributions on or before the contribution due date after you have submitted the copy of the notice of assessment reflecting the profits. The amount of mandatory contributions made should be based on the amount of relevant income before you suspended contributions Resuming Voluntary Contributions If you want to resume your voluntary contributions, please specify it clearly when submitting the copy of your Notice of Assessment Tax Deduction Benefit Similar to relevant employee members, self-employed persons will be entitled to a tax deduction for the mandatory contributions made to the scheme up to a permitted maximum level. Please refer to Table 3 above for details. 13 / 26

14 SECTION 3: MANAGING YOUR MPF ACCOUNT 3.1 Know Your Benefit At Manulife, we pride ourselves on our service for customers. Please refer to Section 7 for the various channels through which we deliver quality services to our member Member Benefit Statement Under the MPFSO, trustees are required to provide members with annual benefit statements at the end of each scheme year. In the statement, you will find information including the fund balance of each of your investment sub-accounts, your current investment allocation percentages and record of contributions received. You should keep the statement for future reference. This statement will be mailed to your residential address according to our latest record. Whenever you change your address, you can update your address online by login to click on "Account Setting" and go to "Update Contact Information" to update your personal profile. You can also inform us by filling in the "Change of Contact Details Form". 14 / 26

15 3.1.2 Fund Fact Sheet and Newsletter We publish Fund Fact Sheet and member newsletter detailing: General investment climate Asset allocation for various funds Cumulative performance Fund managers' comments Invitation to MPF investment seminar reservation form A copy of the Fund Fact Sheet is sent together with your annual benefit statement. You may also view the latest issue which is updated quarterly, on our customer website Investment Seminar To gain more insights from our investment managers, don't miss our investment seminars for members. This is an ideal opportunity for you to find out about the latest market trends and raise your questions to the professionals. Please check the latest seminar schedule on our customer website Electronic Services Our various options of electronic services, Smart Call (852) (Interactive Voice Response System), our website and MPF/Pension Mobile App provide useful channels for you to monitor your member account with the following information: Fund balance Current investment allocation (Available on website and IVRS) Last contribution date and amount you have contributed Most current fund unit prices and interest rate MPF Fund Price Alert service (Available on website and Mobile App) Illustrated account details in simple graphics (Available on website and Mobile App) Access to Member Benefit Statement and other e-statements(available on website only) 3.2 Fund Choice Management A Wide Array of Funds for Your Choice We offer the Default Investment Strategy ( DIS ) and a total of 29 constituent funds for members choice under the Scheme. Default Investment Strategy The DIS is a strategy, not a fund. The DIS operates with two constituent funds. For Manulife Global Select (MPF) Scheme, the two DIS constituent funds are named as the Manulife MPF Core Accumulation Fund and the Manulife Age 65 Plus Fund. In general, for members who do not make a fund choice for their MPF account, their future contributions and accrued benefits transferred from another MPF scheme will be invested in the DIS. 15 / 26

16 Investment Choice by Fund(s) Members may also choose from a total of 29 constituent funds when making investment choice for their account. The above two funds under the DIS are available as individual investment choice for members. For details of each of the constituent funds, please refer to the Offering Document of the Scheme or the related information which is available on our website Monitoring Fund Performance The latest fund price of all unitized constituent funds and the interest rate declared for the Manulife MPF Interest Fund under the scheme is published on Manulife s website and in two leading local newspapers, namely the Hong Kong Economic Times and the Standard. You can also obtain the latest updates on MPF fund performance by reviewing the Monthly Fund Summary, and the Fund Fact Sheet that is updated quarterly. Both are available via our website. Manulife also provides the MPF Fund Price Alert service. You may login to your account and specify the target fund price for the funds on your watch list. Once reached, an alert message will be sent to you via your registered address How to Perform Fund Switching? Through our online services on our website, you can review your current investment portfolio and transfer your accumulated fund balance among the available funds, or change your contribution investment instruction for future contributions. Alternatively, you may dial our Smart Call service number on (852) and access your member account on the member website at to make change(s) accordingly. You may also complete and return the "Manulife Global Select (MPF) Scheme Contribution Investment Instruction / Fund Switching Instruction" form to our Administration Office for processing. Before submitting any fund switching request, you should note the following: Check your fund balances either through the Smart Call Service on (852) , our website at or our Mobile App. The allocation or transfer percentage in any one fund must be in whole number and not less than 5% of your portfolio. If the balance of the accrued benefits remaining in any particular investment fund after the transfer is less than HK$500, the said balance may be transferred in full to the newly selected investment fund at the discretion of Manulife. An online feature One-time Rebalancing of portfolio allocation is also available on our member website for you to manage your investment portfolio efficiently. You may log into your e-mpf Member Online Service account and set a target asset allocation. Your portfolio will be automatically rebalanced based on your instruction. This function can complement the means of fund-to-fund switching so you can enjoy a flexible and hasslefree fund-switching experience. 16 / 26

17 3.2.4 Fund-Switching Confirmation Notice After the fund-switching instructions are completed, "Confirmation of Investment Instructions" for change of fund choice in respect of future contributions; or "Confirmation of Transfer of Fund Accumulations" for transfer of past accumulations will be made available for your reference. You should examine and report to Manulife at once should there be any error found therein. If your requests are submitted via our member website, the above said confirmations can be found online. If your requests are submitted via IVR or in writing using our prescribed forms, we will mail the confirmations to you accordingly. 17 / 26

18 SECTION 4: WITHDRAWAL AND TRANSFER OF ACCRUED BENEFITS 4.1 Withdrawal of Accrued Benefits Grounds for Withdrawal The MPF System is introduced to help members of the workforce save for their retirement. However there are also circumstances under which accrued benefits may be paid before the attainment of retirement age. Below are the various grounds on which you may withdraw your benefits: Retirement This applies if a person has reached age 65. However, you may opt to continue investing your accrued benefits in the Scheme if you wish to do so. Each year, we will remind you of your option to either cash out your accrued benefits or leave them in the Scheme. You can follow the instructions in the reminder and inform us of your choice. Early Retirement This applies if a person has reached age 60 and has permanently ceased all employment or self-employment with no intention of becoming employed or self-employed again. Permanent Departure from Hong Kong This applies to a person who: departed / will depart from Hong Kong to reside elsewhere with no intention of returning for employment or to resettle in Hong Kong as a permanent resident; has not previously claimed payment for any accrued benefit in any registered scheme on the ground of permanent departure from Hong Kong on an earlier departure date. Total Incapacity This applies if a person is permanently unfit to perform the kind of work under his contract of employment and this is certified by a registered medical practitioner or a registered Chinese medicine practitioner. Death Claims of payment should be made by the personal representative shown on the Grant of Probate or Letter of Administration Small Balance Account Claimant's accrued benefits must not exceed HK$5,000. As at the date of the claim, at least 12 months have elapsed since the contribution day in respect of the latest contribution period for which a mandatory contribution is required to be made to any registered scheme. No accrued benefits kept in any other registered scheme. Claimant does not intend to become employed or self-employed. 18 / 26

19 Terminal Illness # This applies if a person is suffering from terminal illness with life expectancy likely reduced to 12 months or less as certified by a registered medical practitioner or a registered Chinese medicine practitioner. # For claims made on the ground of terminal illness, Personal Account, Self-employed Person or terminated Employee Members can claim for both mandatory and voluntary contribution. For Employee Members, the portion of voluntary contribution can only be claimed upon their cessation of employment. For details about the eligibility for benefit withdrawal and the required documents, please refer to the applicable claim forms prescribed by the MPFSO or provided by Manulife Withdrawal Options Members may withdraw accrued benefits on one of the above grounds as specified under in a lump sum. Effective February 1, 2016, members who lodge claims on the ground of retirement or early retirement are offered one more option as to withdraw accrued benefits either by instalments or in a lump sum. In general, within 30 days after the date on which the claim is lodged, and provided that complete documents and forms are furnished, Manulife will send a benefit payment cheque with a Benefit Payment Statement, which contains information such as the total amount paid and the details of any expenses relating to the payment made, to the member (or personal representative of the deceased in case of death claim). 19 / 26

20 4.2 Transfer of Accrued Benefits Important Note: If you wish to transfer your accrued benefits from one MPF scheme to another, please be aware of how the transferred-in benefits will be invested. In general, the transferred-in benefits will be invested according to the default investment strategy ( DIS ) if you have not given any investment instructions for the transferred-in benefits of the account to the new trustee. Please approach your new trustee to seek clarification, where necessary Transfer of Accrued Benefits upon Cessation of Employment / Self-employment When you terminate employment with your employer or cease to be self-employed, you may refer to the following options for treatment of your accrued benefits: Option A* Retain in a Personal Account under Manulife s Scheme Option B Transfer to your New Employer s Scheme Option C Transfer to another Scheme of your Choice Complete the form Scheme Member s Request for Fund Transfer Form and send it by post to: Option A: Manulife Employee Benefits Provident Funds Services, Manulife (International) Limited, 21/F., Tower A, Manulife Financial Centre, Wai Yip Street, Kwun Tong, Kowloon, Hong Kong Option B: Your New Employer Who will in turn send the form to the new trustee to notify Manulife to effect the transfer Option C: The Trustee of your Selected Scheme Who will in turn notify Manulife to effect the transfer This will effect the transfer of your accrued benefits to Manulife Personal Account Within 30 days upon receipt of all completed documents, Manulife will transfer the accrued benefits according to your instruction. You will receive a transfer statement # and/or transfer confirmation showing the details of your accrued benefits transfer. *Advantages of keeping your accrued benefits in a Manulife personal account: You can retain your existing investment portfolio in a personal account of the same scheme, and therefore minimize the risk for fund surrender amid the volatile market. You can continue to enjoy the existing privileged customer services by Manulife. # Please note that if there are outstanding contributions / surcharges in respect of your account, information regarding the outstanding amount and the respective covered period(s) will be set out in the transfer statement for your reference. 20 / 26

21 Any subsequent payment made to your account regarding the outstanding sum by your former employer will be automatically handled in accordance with your previous request. The details will also be explained in a separate transfer statement for your reference. If you do not submit the "Scheme Member s Request for Fund Transfer Form" within 3 months after Manulife is being notified of your termination of employment from your former employer or your last date of employment (whichever is later), Manulife will act in accordance with the Mandatory Provident Fund Schemes (General) Regulations and transfer the accrued benefits to a Manulife Personal Account (which will be newly set up if you do not have an existing personal account under the Scheme). You will receive another Member Account number pertaining to your newly set up personal account. A transfer statement and a transfer confirmation will be sent to you upon completion of the transfer of accrued benefits. In accordance with the MPFSO, your contribution investment instruction for future contributions or transferred-in benefits will be invested according to the DIS if no contribution investment instruction regarding the personal account is received from you. On the other hand, the accrued benefits transferred into the personal account will continue to be invested in the same funds as that for the terminated contribution account Transfer of Accrued Benefits during Employment (Employee Choice Arrangement with effect from Nov 1, 2012) When you are under employment, you may elect to transfer part of your accrued benefits from your contribution account by Employee Choice Arrangement once per calendar year*. The table below shows the sub-accounts keeping the mandatory contributions in a contribution account and the transferability of the accrued benefits from each of these subaccounts during an employee s current employment: Sub-accounts in an employee s contribution account Employer mandatory contributions under current employment (ERMC) Employee mandatory contributions under current employment (EEMC) Mandatory contributions from former employment(s) or self-employment (if any) (FRMC) Transferability after ECA Not transferable (Must be retained in scheme chosen by employer) Transferable in a lump sum to an MPF personal account once per calendar year* Transferable in a lump sum to an MPF personal account or contribution account anytime Note: The governing rules of the scheme provided by Manulife only allow transfer of accrued benefits derived from mandatory contributions during employment. Transfer of accrued benefits from voluntary contributions during employment is not allowed. *For the permitted number of transfer per calendar year, and the transferability of voluntary contribution from other schemes to Manulife s scheme, please refer to the governing rules of the original scheme concerned. 21 / 26

22 To make a transfer by Employee Choice Arrangement, you can simply fill in the Employee Choice Arrangement Transfer Election Form and return it to Manulife or the trustee of your selected scheme. Please read the Guide to Transfer Benefits under Employee Choice Arrangement before you fill in the form. 22 / 26

23 SECTION 5: PERSONAL ACCOUNT A "Personal Account" is an account in which accrued benefits in respect of any transfer made by ECA, former employment or former self-employment of a scheme member are held. Upon cessation of employment / self-employment, you may choose from one of the below options for treatment of your accrued benefits. Option A: Retain in a Personal Account of a Manulife's current scheme Option B: Transfer to your new employer's new scheme if you are subsequently being employed Option C: Transfer to another scheme of your choice Option A allows you to retain your accrued benefits with Manulife under a Personal Account in current scheme. (see section 4.2.1) If you hold a Contribution Account in another scheme, you may also choose to consolidate your accrued benefit by transferring part of your accrued benefits from your Contribution Account to a Personal Account by Employee Choice Arrangement (see section 4.2.2). 5.1 Consolidate Your MPF Accrued Benefits Combining Personal Accounts to create larger accumulations and longer MPF relationship with us may benefit you to a privileged rate on the management fees for specified funds. It will be credited to the personal account monthly. Please refer to the latest promotional leaflet for more details of the Privileged Rates Program. This will mean extra gains for your MPF accumulations. So, it makes good sense to consolidate your MPF accrued benefits from current or previous employment to your Manulife Personal Account. Members may simply fill in the Scheme Member s Request for Account Consolidation Form (Form MPF(S) P(C)) and send it to Manulife. We will then arrange with your previous service provider(s) to transfer accrued benefits in your other personal account(s) to Manulife. 5.2 Setting Up A Personal Account With Manulife Simply complete a Personal Account Application Form together with a Scheme Member s Request for Fund Transfer Form and/or Employee Choice Arrangement ( ECA ) Transfer Election Form and return to us. Upon receipt of the completed forms, Manulife will arrange for the transfer and send a Transfer Confirmation to you once the transfer benefits are received and allocated. You will also receive a member account number pertaining to your personal account once it is set up. To obtain a Personal Account Application package and for any queries about setting up of a personal account with Manulife, you are welcome to contact your MPF intermediary or call our Member Hotline on (852) / 26

24 SECTION 6: ADMINISTRATIVE FORMS Our administrative forms are provided for you to update your records and manage your account. You can download the forms by login to to obtain the forms. You can also obtain these forms by using our fax-on-demand facilities via our Smart Call Service on (852) or simply contact your MPF intermediary or call our Member Hotline on (852) for assistance. For prompt processing, we highly recommend you make your request for Change of Contact Information or Fund Choice Management through our online services. SECTION 7: MANULIFE AT YOUR SERVICE You are always welcome to contact us via the following channels: 7.1 Manulife Smart Call (852) Through our Smart Call Service (interactive voice response system), you can check your up-to-date fund balance as well as fund prices and arrange fund-switching as desired. Service hours 24 hours everyday including Sundays and Public Holidays 7.2 Member Hotline (852) Our professional customer service staff are at pleasure to answer inquiries and provide any necessary assistance. Service hours Monday ~ Friday: 9:00 a.m. to 6:00 p.m. Service is not available on non-working days (Saturday, Sunday and Public Holidays) 24 / 26

25 7.3 Manulife Customer Website Our online service on internet makes time and space boundless and it supports you in performing the following functions: Update contact information, change username or PIN View account balance with graphical illustration of account details Make investment instruction and perform fund switching Set fund price alert instruction Check last contribution details View Transaction Log View other information, such as your Manulife Advisor, Forms, Manuals and Frequently Asked Questions New users can simply register online and request a PIN instantly via SMS on registered mobile number or Manulife MPF/Pension Mobile App As a member of Manulife MPF and/or Pension scheme, you can view the latest information on your account, anytime, anywhere via this App! Key features: Check your account balance by fund(s) and account movement with investment gain/loss Review your contribution history for the past 24 months Setup fund price alert instruction(s) for specific fund(s) and push notification will be sent when the target unit price(s) has been reached Touch Login Service* is now available that allows you access your account with a single tap! * Touch Login Service is only available on Apple devices with Touch ID and operates on ios 10.0 or above. Support Version: ios 10.0 or above / Android 6.0 and / 26

26 7.5 Customer Service Centre Kwun Tong - 21/F., Tower A, Manulife Financial Centre, Wai Yip Street, Kwun Tong, Kowloon, Hong Kong Causeway Bay 23/F Lee Garden One 33 Hysan Avenue, Causeway Bay Hong Kong Service Hours: Monday to Friday 9:00am to 6:00pm Closed on Saturday, Sunday and Public Holidays 7.6 Office of Employee Benefits Department 21/F., Tower A, Manulife Financial Centre, Wai Yip Street, Kwun Tong, Kowloon, Hong Kong 7.7 Quality Intermediary Service Should you need a more in-depth understanding of our MPF scheme, our registered MPF intermediaries are always ready and willing to provide support to you. They are all well trained professionals offering exemplary standard of service. 26 / 26