Who can participate in the Master Trust or Value Scheme?

Employees (employed for 60 calendar days or more) and self-employed persons aged between 18 and 65.

Who can participate in the Industry Scheme?

Employees
Employees aged between 18 and 65, who have been employed in the catering or construction industries by an employer for 60 calendar days or more.

Casual Employees
Employees aged between 18 and 65, who have been employed in the catering or construction industries by an employer on a day-to-day basis or for a fixed period of less than 60 days.

Self-employed Persons
Self-employed persons aged between 18 and 65, who have been engaged in the catering or construction industries.

Portability of Accrued Benefits

The Employee Choice Arrangement ("ECA") came into effect on 1^st November, 2012. Employees are allowed to transfer their accrued benefits, i.e. the accumulated contributions and investment returns, which arise from the employee mandatory contributions made during their current employment to another MPF trustee and scheme of their own choice once every calendar year; or not to make any change by retaining the accrued benefits in the MPF scheme they are currently enrolled in.

• Retain accrued benefits in your current MPF scheme
• Transfer accrued benefits to another scheme of your choice
• Transfer accrued benefits to your new employer's MPF scheme

Withdrawal of Accrued Benefits

In general, a member can claim for payment of the accrued benefits at the retirement age of 65. The following shows the different circumstances:

(i)    Retirement (having reached the age of 65)
(ii)   Early retirement (having reached the age of 60 and have permanently ceased employment/self-employment)
(iii)  Permanent departure from Hong Kong
(iv)  Total incapacity
(v)   Terminal illness
(vi)  Small balance (fulfilling all the relevant criteria set out in the Mandatory Provident Fund Schemes Ordinance)
(vii) Death

With effect from 1^st February, 2016, members who reach the age of 65 or permanently cease employment or self–employment after reaching the age of 60 may choose to withdraw their accrued benefits attributable to mandatory contributions and if applicable, voluntary contributions by instalments by submitting a claim form specifying the exact amount of withdrawal and other relevant information.

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 Mandatory Provident Fund Schemes Ordinance after the Trustee has received the valid claim for payment of such benefits.