Key Scheme Information (MT)

BEA MPF Services
Key Scheme Information Document for
BEA (MPF) Master Trust Scheme
  • This Key Scheme Information Document (KSID) provides you with key information about BEA (MPF) Master Trust Scheme, which forms part of the offering document. You should not make investment decisions based solely on this KSID.
  • For details of BEA (MPF) Master Trust Scheme, please refer to the MPF Scheme Brochure (including the addenda to the MPF Scheme Brochure) and the trust deed for BEA (MPF) Master Trust Scheme.
MPF Scheme Brochure
Trust Deed
Trustee Bank of East Asia (Trustees) Limited
Sponsor The Bank of East Asia, Limited
Scheme
year end 		31st March
Number of constituent funds 17
Key Scheme Information Document for
BEA (MPF) Master Trust Scheme
  • This Key Scheme Information Document (KSID) provides you with key information about BEA (MPF) Master Trust Scheme, which forms part of the offering document. You should not make investment decisions based solely on this KSID.
  • For details of BEA (MPF) Master Trust Scheme, please refer to the MPF Scheme Brochure (including the addenda to the MPF Scheme Brochure) and the trust deed for BEA (MPF) Master Trust Scheme.
Trustee Bank of East Asia (Trustees) Limited
Sponsor The Bank of East Asia, Limited
Scheme
year end 		31st March
Number of constituent funds 17
MPF Scheme Brochure
Trust Deed
Why is MPF important to you?
  • The Mandatory Provident Fund (MPF) System aims at assisting the working population of Hong Kong to accumulate retirement savings by making regular contributions. Employees (full time or part-time) and self-employed persons aged 18 to 64, except the exempt persons, are required to participate in an MPF scheme. To enrol in BEA (MPF) Master Trust Scheme, please submit the completed application form / participation agreement to us. The relevant forms can be downloaded on the Download Area:
Download Area ＞ Forms
  • To facilitate your retirement planning, you may use MPFA's Retirement Planning Calculator to calculate:
    i. your retirement needs;
    ii. your projected MPF and other retirement savings upon your retirement; and
    iii. how much you need to save to meet your retirement needs.
Retirement Planning Calculator
  • If you are an employer, you need to know your MPF obligations, including enrolling new employees, making contributions and reporting terminated employees. If you have any questions relating to your MPF obligations as an employer, please contact us.
  • To become a participating employer of BEA (MPF) Master Trust Scheme, a participation agreement will need to be executed and submitted to the Trustee in the manner as set out in the participation agreement. The participation agreement can be downloaded on the Download Area:
Download Area ＞ Forms
Your MPF contributions
  • If you are an employee (full time or part-time), both you and your employer are required to make regular MPF contributions for you, based on your "relevant income" as follows:
    • Monthly Relevant Income Mandatory Contribution Amount
    Employer's Contributions Employee's Contributions
    Less than HK$7,100 Relevant income x 5% Not required
    HK$7,100 - HK$30,000 Relevant income x 5% Relevant income x 5%
    More than HK$30,000 HK$1,500 HK$1,500
  • "Relevant income" refers to wages, salaries, leave pay, fees, commissions, bonuses, gratuities, perquisites or allowances, expressed in monetary terms, paid or payable by an employer to an employee, but excludes severance payments or long service payments under the Employment Ordinance.
  • All mandatory contributions are immediately vested in you, except for the MPF derived from the employer's contributions for offsetting severance payments or long service payments.
  • If you are self-employed, you are required to make MPF contributions as follows:
    • Relevant Income Self-employed Person's Contributions
    Annual Monthly Average
    Less than HK$85,200 Less than HK$7,100 Not required
    HK$85,200 - HK$360,000 HK$7,100 - HK$30,000 Relevant income x 5%
    More than HK$360,000 More than HK$30,000 HK$360,000 x 5% =
    HK$18,000 per year
    OR
    HK$30,000 x 5% =
    HK$1,500 per month
  • Whether you are an employee or self-employed, you may also consider making additional contributions(i.e. voluntary contributions (including additional voluntary contributions) (VC), tax deductible voluntary contributions (TVC) and special voluntary contributions (SVC)) in light of your personal needs.
    • How to Open an Account Voluntary Contributions Tax Deductible Voluntary Contributions Special Voluntary Contributions
    Your employer helps you open an account under the MPF scheme chosen by the company You select your own
    MPF scheme and open an account on your own.
    (Note: some MPF schemes do not provide TVC accounts. You may check the MPF schemes which offer TVC accounts on MPFA's Trustee Service Comparative Platform.)    		 You select your own
    MPF scheme and open an account on your own.
    (Note: some MPF schemes do not provide SVC accounts. You may check the MPF schemes which offer SVC accounts on MPFA's Trustee Service Comparative Platform.)
  • For details of different types of contributions, you may refer to the Section 6 - Administrative Procedures of the MPF Scheme Brochure for BEA (MPF) Master Trust Scheme:
    • MPF Scheme Brochure
How do we invest your money?
  • Upon joining the scheme, if you have not given us any investment instructions, your money will be invested under the Default Investment Strategy (DIS) automatically. For details of the DIS, you may refer to the Section 3 - Fund Options, Investment Objectives and Policies of the MPF Scheme Brochure for BEA (MPF) Master Trust Scheme:
    • MPF Scheme Brochure
  • Alternatively, you can choose to invest in the following funds:
    • No. Name of Constituent Fund Investment Manager Fund Descriptor Investment Focus Investment Objectives Management Fees

    (As a percentage of net asset value per annum)
    1 BEA (MPF) Core
    Accumulation Fund    		 BEA Union Investment Management Limited Mixed Assets Fund
    - Global
    - Maximum 65% inHigher Risk Assets    		 55% to 65% in Higher Risk Assets with the remainder invested in Lower Risk Assets To provide capital growth 0.75%
    2 BEA (MPF)
    Age 65 Plus Fund    		 BEA Union Investment Management Limited Mixed Assets Fund
    - Global
    - Maximum 25% in Higher Risk Assets    		 15% to 25% in Higher Risk Assets with the remainder invested in Lower Risk Assets To provide stable growth 0.75%
    3 BEA (MPF)
    Growth Fund    		 BEA Union Investment Management Limited Mixed Assets Fund
    - Global
    - Maximum 90% inequities    		 60% to 90% in equities, 10% to 40% in cash, debt securities and/or money market instruments To achieve a stable rate of return 1.2% - 1.82%
    4 BEA (MPF)
    Balanced Fund    		 BEA Union Investment Management Limited Mixed Assets Fund
    - Global
    - Maximum 60% inequities    		 40% to 60% in equities, 40% to 60% in cash, debt securities and/or money market instruments To achieve a stable rate of return 1.2% - 1.82%
    5 BEA (MPF)
    Stable Fund    		 BEA Union Investment Management Limited Mixed Assets Fund
    - Global
    - Maximum 40% in equities    		 10% to 40% in equities, 60% to 90% in cash, debt securities and/or money market instruments To minimise short-term capital risk with modest capital growth over the long term 1.2% - 1.82%
    6 BEA (MPF) Global
    Equity Fund    		 BEA Union Investment Management Limited Equity Fund - Global 70% to 100% in equities, up to 30% in cash, debt securities and/or money market instruments To achieve long-term capital appreciation 1.175% - 1.775%
    7 BEA (MPF) European
    Equity Fund    		 BEA Union Investment Management Limited Equity Fund - Europe 70% to 100% in equities, up to 30% in cash, debt securities and/or money market instruments To achieve long-term capital appreciation 1.295% - 1.795%
    8 BEA (MPF) North
    American Equity Fund    		 BEA Union Investment Management Limited Equity Fund - North America 70% to 100% in equities, up to 30% in cash, debt securities and/or money market instruments To achieve long-term capital appreciation 1.215% - 1.275%
    9 BEA (MPF) Asian
    Equity Fund    		 BEA Union Investment Management Limited Equity Fund - Asia
    ex-Japan    		 At least 70% in equities, up to 30% in cash, debt securities and/or money market instruments To achieve long-term capital appreciation 1.2% - 1.94%
    10 BEA (MPF) Greater
    China Equity Fund    		 BEA Union Investment Management Limited Equity Fund - Greater China 70% to 100% in equities, up to 30% in cash, debt securities and/or money market instruments To provide long-term capital growth 1.2%
    11 BEA (MPF) Japan
    Equity Fund    		 BEA Union Investment Management Limited Equity Fund - Japan At least 70% in equities, up to 30% in cash, debt securities and/or money market instruments To achieve long-term capital appreciation Up to 1.765%
    12 BEA (MPF)
    Hong Kong Equity Fund    		 BEA Union Investment Management Limited Equity Fund - Hong Kong 70% to 100% in equities, up to 30% in cash, debt securities and/or money market instruments To achieve long-term capital appreciation 1.2% - 1.3%
    13 BEA China Tracker Fund BEA Union Investment Management Limited Equity Fund - China 100% in equities To provide investment returns that match the performance of the Hang Seng China Enterprises Index as closely as practicable Up to 1.09%
    14 BEA Hong Kong Tracker Fund BEA Union Investment Management Limited Equity Fund - Hong Kong 100% in equities To provide investment returns that match the performance of the Hang Seng Index as closely as practicable Up to 0.59%
    15 BEA (MPF) Global
    Bond Fund    		 BEA Union Investment Management Limited Bond Fund - Global At least 70% in bonds, with balance in cash and/or money market instruments To provide total investment return over the medium to long term 0.99%
    16 BEA (MPF) RMB &
    HKD Money MarketFund    		 BEA Union Investment Management Limited Money Market Fund - China and Hong Kong 90% to 100% in short-term deposits, 0% to 10% in debt securities To achieve a rate of return over the long term in line with the interest rate offered by authorised financial institutions in Hong Kong on HKD and RMB savings accounts while maintaining stability of the principal amount invested 0.79%
    17 BEA (MPF)
    Conservative Fund    		 BEA Union Investment Management Limited Money Market Fund - Hong Kong 100% in short-term deposits and debt securities To achieve a minimum rate of return while maintaining stability of the principal amount invested 0.79%
    Note -
    The management fees shown in the table above include the management fees chargeable by the fund and its underlying fund(s) only. There may be other fees and charges chargeable to the fund and its underlying fund(s) or to you. For details, please refer to the Section 5 - Fees and Charges of the MPF Scheme Brochure for BEA (MPF) Master Trust Scheme:
    MPF Scheme Brochure
    To help you make comparisons across different MPF funds and schemes, you may refer to the information on the MPFA's MPF Fund Platform:
    MPFA's MPF Fund Platform
What are the risks of your MPF investment?
Investment involves risks. Please refer to the Section 4 – Risks of the MPF Scheme Brochure for BEA (MPF) Master Trust Scheme for details of the risk factors to which the funds are exposed:
MPF Scheme Brochure
A risk class is assigned to each fund with reference to a seven-point risk classification scale based on the latest fund risk indicator of the fund. A fund in a higher risk class tends to show a greater volatility of return than a low-risk class fund. Information about the latest risk class of each fund is set out in the latest fund fact sheet (FFS) of BEA (MPF) Master Trust Scheme:
BEA (MPF) Master Trust Scheme
(Fund Performance - Fund Fact Sheet)
How to transfer your MPF?
If you are an employee, you may opt to transfer your MPF derived from employee mandatory contributions in your contribution account under current employment (Original Scheme) to any other MPF schemes of your choice (New Scheme) once a year1. If your transfer involves selling your interests in a guaranteed fund, please check with the trustee of your Original Scheme about the terms and conditions of this fund as failure to fulfil some qualifying conditions may cause the loss of guaranteed returns. Your contribution account under current employment may consist of different parts of MPF derived from different sources and subject to different transfer rules, as follows:
Parts of MPF in a Contribution Account
(i.e. Types of contributions that the MPF are derived from)		 Transfer Rule Type of Account
Receiving the MPF
Contributions from Current Employment
Employer mandatory contributions Not transferable -
Employee mandatory contributions Transferable once every calendar year1 Personal account
Employer voluntary contributions Subject to the governing rules of the Original Scheme
Employee voluntary contributions
Contributions from Former Employment
Mandatory contributions transferred to the contribution account under current employment Transferable at any time Personal account or other contribution accounts2
Voluntary contributions transferred to the contribution account under current employment Subject to the governing rules of the Original Scheme
If you are a self-employed person or tax deductible voluntary contribution (TVC) account holder, you can transfer your MPF held in your MPF contribution account, personal account or TVC account to any other MPF schemes of your choice at any time.

1 Unless the governing rules of the Original Scheme provide for more frequent transfer-out.
2 Only applies to employees with two or more contribution accounts. If an employee is employed by more than one employer at the same time, he/she may have more than one contribution account.

How to manage your MPF when changing jobs?
  • You should proactively manage the MPF accumulated during your previous employment in one of the following ways:
    • Method 1
    Transfer the MPF to your
    "contribution account"
    opened under your
    new employment
    Method 2
    Transfer the MPF
    to your existing
    "personal account"
  • If you do not have any personal accounts, and you are satisfied with the MPF scheme chosen by your former employer, you may consider retaining your MPF in a personal account under the scheme of your previous employment for investment.
  • Forms for transfer of MPF can be downloaded on the Download Area:
    • Download Area ＞ Forms
  • If you have any questions relating to transfer of MPF, please contact us.
When should you adjust your MPF fund choices?
In general, it is a good practice to review your fund choices regularly and adjust your MPF fund choices as you think fit.
How to adjust your MPF fund choices?
  • You may complete and submit a new investment instruction form (i.e. "Member - Change of Mandate to Invest Contribution / Fund Switching Instruction") to us.
  • You may send your new investment instructions to us by post / courier, fax, or through our company's website.
  • In order that your instructions can be processed within the same day, you must send us the completed investment instructions before the cut-off time. For details, please visit our Service Pledge on the website:
About Us ＞ Service Pledge
When can you withdraw your MPF?
  • Once you reach the age of 65, you can choose to withdraw your MPF or choose to retain your MPF in the MPF Scheme.
  • By law you can withdraw your MPF early on the following six grounds:
    Early Retirement
    Terminal Illness
    Permanent Departure from Hong Kong

    Total Incapacity
    Death
    Small Balance
  • If you withdraw your MPF at the age of 65 or 60 upon early retirement, you may choose to withdraw either in one lump sum or by instalments.
  • The law does not stipulate any deadlines for withdrawing MPF. You should consider your personal needs before making a withdrawal application. If you choose to retain all your MPF in your account, no application is required. Your MPF will continue to be invested in the fund(s) you have selected.
  • Forms for withdrawal of MPF can be downloaded on the Download Area:
    • Download Area ＞ Forms
  • If you have any questions relating to withdrawal of MPF, please contact us.
Additional information useful to you
Taxation
Employees are allowed to claim salaries tax deduction for their mandatory contributions, subject to a maximum deduction of HK$18,000 per year. Contributions that are made to TVC accounts may also be eligible for tax deduction. We recommend that you seek professional advice regarding your own tax circumstances.
Documents from us
Scheme members will receive the following documents:
  1. upon joining the BEA (MPF) Master Trust Scheme: this KSID, the MPF Scheme Brochure and the Notice of Participation
  2. within three months after the scheme year end: the Annual Benefit Statement
Other information
This KSID only provides a summary of the key features of BEA (MPF) Master Trust Scheme. For details of BEA (MPF) Master Trust Scheme, please refer to the trust deed and the MPF Scheme Brochure for BEA (MPF) Master Trust Scheme. Copies of these documents are available:
Trust Deed
MPF Scheme Brochure
The On-going Cost Illustrations for BEA (MPF) Master Trust Scheme, a document which illustrates the on-going costs on contributions to funds in BEA (MPF) Master Trust Scheme:
On-Going Cost Illustrations For BEA (MPF) Master Trust Scheme
The Fund Fact Sheets provide basic information (e.g. fund performance) on individual funds of BEA (MPF) Master Trust Scheme. Copies of these documents are available on the Fund Performance page:
Fund Performance ＞ Fund Fact Sheet
Personal Data Statement
To obtain the latest copy of the "Privacy Policy Statement", please write to (i) the Group Data Protection Officer by post to The Bank of East Asia Group, 10 Des Voeux Road Central, Hong Kong, or (ii) BEA Trustees' Individual Data Protection Officer by post to 32nd Floor, BEA Tower, Millennium City 5, 418 Kwun Tong Road, Kowloon, Hong Kong.
How to make enquiries and complaints?
If you would like to make an enquiry or a complaint, please feel free to contact us.
BEA (MPF) Hotline
(Operated by Bank of East Asia (Trustees) Limited)		 (+852) 2211 1777
MPF Administration Centre 32nd Floor, BEA Tower, Millennium City 5,
418 Kwun Tong Road, Kwun Tong, Kowloon, Hong Kong
Fax Number (+852) 3608 6003
Postal Address 32nd Floor, BEA Tower, Millennium City 5,
418 Kwun Tong Road, Kwun Tong, Kowloon, Hong Kong
Website http://www.hkbea.com
Email BEAMPF@hkbea.com
To access the PDF version of Key Scheme Information Document for
BEA (MPF) Master Trust Scheme, please download the document below.