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Leaving a Job without Managing your MPF
If you do not manage your MPF benefits after leaving a job, and you do not have a personal account under the same MPF scheme in which the benefits are accrued, your trustee will automatically open a personal account for you, as required by law.
From 1 April 2017 onwards, the following arrangements apply to MPF benefits in these personal accounts (under normal circumstances):
Accrued MPF benefits |
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The MPF benefits accrued from your previous employment and transferred to your personal account (whether the transfer is made before or after 1 April 2017) remain invested in the fund(s) that they are currently invested in. These MPF benefits are not affected by the launch of the DIS. |
Future MPF benefits |
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You may not have given investment instructions for future MPF benefits of your personal account. If you put MPF benefits into that account in the future* (e.g. benefits transferred from other MPF schemes as a result of account consolidation or the Employee Choice Arrangement), these benefits will be invested according to the DIS.
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* Subject to some specific exceptions in the law, such as MPF benefits transferred from another account under the same MPF scheme.
Reminders from Trustees
Trustees have taken multiple measures to remind you that the MPF benefits in your account are to be re-invested according to the DIS, so that you can take action to opt out of the DIS as you wish:
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1
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Before 1 April 2017, your trustee had sent you a letter reminding you that any future benefits put into your account would be invested according to the DIS unless you had given an investment instruction to your trustee； |
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2
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Subsequently, if the trustee did not receive any investment instructions for your future MPF benefits, they would issue another letter to you after 1 April 2017, confirming that any future MPF benefits put into your account would be invested according to the DIS; |
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3
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After 1 April 2017, if any new MPF benefits are put into your account, trustee will contact you to confirm your investment instructions; |
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4
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A reminder message is added to forms for requests of benefit transfer, reminding you to ascertain if you have given investment instructions to your new trustee, before making a transfer from one scheme to another; |
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5
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After the benefit transfer is completed, trustee will issue a confirmation notice to you as usual. |
Smart Tip
Contact your trustee to ascertain whether an investment instruction has been given for your MPF accounts (both personal accounts and contribution accounts). If you have multiple personal accounts, you should check with your trustees whether you have given investment instructions for each one of these accounts. At the same time, consider consolidating the personal accounts into one for easier management.
Leaving a Job without Managing your MPF
If you do not manage your MPF benefits after leaving a job, and you do not have a personal account under the same MPF scheme in which the benefits are accrued, your trustee will automatically open a personal account for you, as required by law.
From 1 April 2017 onwards, the following arrangements apply to MPF benefits in these personal accounts (under normal circumstances):
Accrued MPF benefits
The MPF benefits accrued from your previous employment and transferred to your personal account (whether the transfer is made before or after 1 April 2017) remain invested in the fund(s) that they are currently invested in. These MPF benefits are not affected by the launch of the DIS.
Future MPF benefits
You may not have given investment instructions for future MPF benefits of your personal account. If you put MPF benefits into that account in the future* (e.g. benefits transferred from other MPF schemes as a result of account consolidation or the Employee Choice Arrangement), these benefits will be invested according to the DIS.
If you do not want to invest your MPF benefits according to the DIS, you should give your trustee an investment instruction when you put any MPF benefits into that personal account. Please contact your trustee to find out about the relevant procedures.
* Subject to some specific exceptions in the law, such as MPF benefits transferred from another account under the same MPF scheme.
Reminders from Trustees
Trustees have taken multiple measures to remind you that the MPF benefits in your account are to be re-invested according to the DIS, so that you can take action to opt out of the DIS as you wish:
|
1
|
Before 1 April 2017, your trustee had sent you a letter reminding you that any future benefits put into your account would be invested according to the DIS unless you had given an investment instruction to your trustee； |
|
2
|
Subsequently, if the trustee did not receive any investment instructions for your future MPF benefits, they would issue another letter to you after 1 April 2017, confirming that any future MPF benefits put into your account would be invested according to the DIS; |
|
3
|
After 1 April 2017, if any new MPF benefits are put into your account, trustee will contact you to confirm your investment instructions; |
|
4
|
A reminder message is added to forms for requests of benefit transfer, reminding you to ascertain if you have given investment instructions to your new trustee, before making a transfer from one scheme to another; |
|
5
|
After the benefit transfer is completed, trustee will issue a confirmation notice to you as usual. |