Features

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Features

Who can participate in the Master Trust?
Employees (employed for 60 calendar days or more) and self-employed persons aged between 18 and 65.

Who is exempted?

	Persons covered by statutory retirement schemes (such as civil servants and teachers)
	Expatriates who work in Hong Kong for less than 13 months or who are covered by overseas retirement schemes
	Members of occupational retirement schemes for which an MPF exemption certificate has been granted
	Persons employed in the European Union Office of the European Commission in Hong Kong
	Self-employed hawkers
	Domestic workers (including local and overseas domestic workers)

Entitlement to Benefits
A Member will be entitled to benefits in respect of mandatory contributions to the Master Trust in the circumstances where the Member: (i) reaches the age of 65; (ii) early retires after reaching the age of 60; (iii) permanently departs from Hong Kong; (iv) dies; (v) has the right to claim a small balance pursuant to the MPF Ordinance; and (vi) becomes totally incapacitated.

Transfers from other schemes
The Trustee has the power to accept transfers from other schemes in respect of a Member. The Trustee will apply amounts received from other schemes to acquire units in the Constituent Funds in accordance with the investment mandate of the Member.

Transfers to other schemes
A Member who ceases to be employed or self-employed may elect by notice in writing to have his accrued benefits under the Master Trust transferred to: (i) a preserved account in a master trust scheme nominated by the Member; or (ii) an existing account of the Member in another registered scheme; or (iii) in a registered scheme in which the Member's new employer is participating.

Payment of Benefits
When a Member is entitled to benefits, the Trustee will realise the units held to the account of that Member. Benefits will be paid within 30 days in accordance with the MPF Ordinance after the Trustee has received the valid claim for payment of such benefits, and will be paid in Hong Kong dollars to the relevant recipient by cheque.