The BEA (MPF) Master Trust Scheme, BEA (MPF) Value Scheme and BEA (MPF) Industry Scheme (collectively “BEA MPF”) are provident fund schemes launched by The Bank of East Asia, Limited ("BEA") in order to manage contributions made to provide retirement benefits to the Hong Kong workforce.
Tax Deductible Voluntary Contribution (“TVC”) is a type of contribution which can only be paid into a TVC account of an MPF scheme. TVC is eligible for tax concessions starting from the year of assessment 2019/2020. The maximum tax deductible amount is HK$60,000 per year – this is an aggregate limit for both TVC and other qualifying annuity premiums.
Make a contribution to a BEA MPF TVC account with Bank of East Asia (Trustees) Limited (“BEA Trustees”) and get a chance to earn a constituent fund unit bonus (“Unit Bonus”) of up to HK$1,875!
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From 1st October, 2023 to 31st March, 2024, a Unit Bonus ranging from HK$375 up to a maximum of HK$1,875 may be granted to eligible MPF customers whose TVC contributions fall into the specified ranges, subject to the terms and conditions below.
For more information, please call the BEA (MPF) Hotline (Operated by Bank of East Asia (Trustees) Limited) on 2211 1777.
Terms and conditions apply – see below for details. The Unit Bonus forms part of the account value and is subject to the relevant fees and charges under BEA MPF.
Unit Bonus Details |
Total amount of TVC made in the corresponding year (including monthly contributions and lump-sum contributions) (HK$) |
Unit Bonus (HK$) |
Total Unit Bonus in 3 Years (HK$) |
1st Year 1st October, 2023 to 31st March, 2024 |
2nd Year 1st April, 2024 to 31st March, 2025 |
3rd Year 1st April, 2025 to 31st March, 2026 |
10,000 to < 20,000 |
100 |
125 |
150 |
375 |
20,000 to < 30,000 |
200 |
250 |
300 |
750 |
30,000 to < 40,000 |
300 |
375 |
450 |
1,125 |
40,000 to < 50,000 |
400 |
500 |
600 |
1,500 |
≥50,000 |
500 |
625 |
750 |
1,875 |
Application Deadline: 31st March, 2024 |
Terms and Conditions
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- The promotion will run from 1st October, 2023 to 31st March, 2024, both days inclusive (the Promotional Period”).
- All customers are required to register through the BEA (MPF) Hotline (Operated by Bank of East Asia (Trustees) Limited) or a representative of BEA MPF Department/BEA Trustees within the Promotional Period in order to receive the Unit Bonus.
- Customers are entitled to receive a Unit Bonus if they make TVC contributions to the BEA MPF TVC account in corresponding designated year as stated in Table 1.
- The Unit Bonus and accrued benefits held in a BEA MPF TVC account can only be withdrawn upon retirement age or other statutory grounds under the MPF legislation, including (i) early retirement (having reached the age of 60 and having permanently ceased employment/self-employment); (ii) death; (iii) small balances; (iv) permanent departure from Hong Kong; (v) total incapacity; (vi) terminal illness.
- The minimum amount of monthly contribution is HK$100; the minimum amount of lump-sum contribution is HK$500.
- The TVC contributions (excluding the TVC assets transferred from other MPF schemes) must be successfully made and allocated to the BEA MPF TVC account according to the TVC Contribution Period as stated in Table 1, and the aggregate amount of contributions in the BEA MPF TVC account will be treated as a designated contribution for the calculation of the Unit Bonus for the corresponding year in this promotion. Customers should allow sufficient time for your TVC contributions to be made and allocated to BEA MPF TVC account within the contribution period. To receive a Unit Bonus, customers are required to make a contribution in each TVC Contribution Period starting from the 1st year of the promotion and retain the full amount of TVC assets in their BEA MPF TVC account within the designated TVC Contribution Holding Period, as stated in Table 1. Therefore, the unit bonus for the 1st year will be credited to the customer’s BEA MPF TVC account if they contribute in the 1st year and retain the full amount of TVC assets in BEA MPF TVC account until 30th September, 2024; the unit bonus for the 2nd year will be credited to the customer’s BEA MPF TVC account if they contribute in both the 1st and 2nd years and retain the full amount of TVC assets in BEA MPF TVC account until 30th September, 2025; and the unit bonus for the 3rd year will be credited to the customer’s BEA MPF TVC account if they have contributed in the 1st, 2nd and 3rd years and retain the full amount of TVC assets in BEA MPF TVC account until 30th September, 2026.
- If a customer (i) transfers or withdraws his / her accrued benefits in the BEA MPF TVC account or (ii) closes his / her BEA MPF TVC account on or before the TVC Contribution Holding Period as stated in Table 1, the Unit Bonus for that year and thereafter will not be credited to their BEA MPF TVC account.
- Customers are required to retain their BEA MPF TVC account to receive the Unit Bonus. The Unit Bonus of corresponding year will be credited to the customer’s BEA MPF TVC account on the Unit Bonus Credit Period as stated in Table 1. The investment allocation of the Unit Bonus will be the same as the latest fund selection of the account to be credited.
- The promotion offer can only be used in conjunction with the “BEA MPF Asset Consolidation Bonus” (if applicable). For details, please refer to the latest promotion of “BEA MPF Asset Consolidation Bonus” (https://bit.ly/3PBJZgD).
- BEA and BEA Trustees reserve the sole right to vary or cancel this promotion and / or amend or alter these Terms and Conditions at any time without prior notice. In the event of any dispute, the decision of BEA and BEA Trustees shall be final and conclusive.
Table 1
Year | TVC Contribution Period (both days inclusive) | TVC Contribution Holding Period (both days inclusive) | Unit Bonus Credit Period |
1st Year |
1st October, 2023 to 31st March 2024 |
1st April, 2024 to 30th September, 2024 |
Within 8 weeks from 1st October, 2024 |
2nd Year |
1st April, 2024 to 31st March, 2025 |
1st April, 2024 to 30th September, 2025 |
Within 8 weeks from 1st October, 2025 |
3rd Year |
1st April, 2025 to 31st March, 2026 |
1st April, 2024 to 30th September, 2026 |
Within 8 weeks from 1st October, 2026 |
Apply online for a Tax Deductible Voluntary Contribution Account:
As mentioned in point 2 of above terms and conditions, all customers are required to register this promotion through the BEA (MPF) Hotline (Operated by BEA Trustees) or a representative of BEA MPF Department / BEA Trustees within the Promotional Period in order to receive the Unit Bonus.
Download the leaflet for more details:
For more detailed information on TVC, please visit our dedicated webpage for TVC account and download relevant offering documents of BEA MPF schemes.
BEA (MPF) Hotline: 2211 1777
(Operated by Bank of East Asia (Trustees) Limited)
Sponsor: The Bank of East Asia, Limited
Issuer: Bank of East Asia (Trustees) Limited