Product Information

BEA (MPF) Tax Deductible Voluntary Contribution Account

Important

BEA (MPF) Master Trust Scheme, BEA (MPF) Value Scheme and BEA (MPF) Industry Scheme (collectively "BEA MPF") offer different Constituent Funds (i) investing in one or more approved pooled investment funds and/or approved index-tracking funds which invest in equities or bonds; or (ii) making direct investments. Each Constituent Fund has a different risk profile.
The BEA (MPF) Conservative Fund under BEA (MPF) Master Trust Scheme, BEA MPF Conservative Fund under BEA (MPF) Value Scheme and BEA (Industry Scheme) MPF Conservative Fund under BEA (MPF) Industry Scheme do not provide any guarantee of the repayment of capital.
You should consider your own risk tolerance level and financial circumstances before investing in the MPF default investment strategy ("DIS"). You should note that the BEA (MPF) Core Accumulation Fund and the BEA (MPF) Age 65 Plus Fund under BEA (MPF) Master Trust Scheme; the BEA Core Accumulation Fund and the BEA Age 65 Plus Fund under BEA (MPF) Value Scheme; and the BEA (Industry Scheme) Core Accumulation Fund and the BEA (Industry Scheme) Age 65 Plus Fund under BEA (MPF) Industry Scheme (collectively the "DIS Funds") may not be suitable for you, and there may be a risk mismatch between the DIS Funds and your risk profile (the resulting portfolio risk may be greater than your risk preference). You should seek financial and/or professional advice if you are in doubt as to whether the DIS is suitable for you, and make the investment decision most suitable for you taking into account your circumstances.
You should note that the implementation of the DIS may have an impact on your MPF investments and accrued benefits. You should consult with the Trustee if you have doubts on how you are being affected.
Investment involves risks. You should consider your own risk tolerance level and financial circumstances before making any investment choices. In your selection of Constituent Funds, if you are in doubt as to whether a certain Constituent Fund is suitable for you (including whether it is consistent with your investment objectives), you should seek financial and/or professional advice and choose the Constituent Fund(s) most suitable for you taking into account your circumstances.
You should not invest based on this website alone. Investments inherently involve risk and the unit prices of the constituent funds may go down as well as up. Past performance of the constituent funds is not indicative of future performance. For further details including the product features, fees and charges, and the risk factors involved, please refer to the MPF Scheme Brochure of the relevant scheme.
Important - If you are in doubt about the meaning or effect of the contents of the MPF Scheme Brochure, you should seek independent professional advice.

What is Tax Deductible Voluntary Contribution “TVC”?

TVC is a type of contribution which can only be paid into the TVC account of an MPF scheme.

Tax deductible limit of up to HK$60,000¹ for each year of assessment
Voluntary in nature, but subject to the same vesting, preservation, and withdrawal restrictions that apply to mandatory contributions
Accrued benefits in a TVC account can be transferred to another TVC account under a different MPF scheme at any time

Who can join TVC?

Current holders of contribution accounts or personal accounts of MPF schemes; or
Current members of MPF Exempted ORSO Schemes

Tax Deduction for TVC

The maximum tax-deductible amount for each assessment year is HK$60,000, which is an aggregate limit for TVC and Qualifying Deferred Annuity Policies (“QDAP”) premiums.

If you made TVC and paid QDAP premiums in the same year of assessment, tax deduction will be applied to TVC first. Any remaining amount will then be used for tax deduction on QDAP premiums.

With TVC, you can take care of your wealth and achieve a desirable retirement life!

Circumstances	Relevant Forms
Apply for a Tax Deductible Voluntary Contribution Account under BEA MPF	BEA (MPF) Master Trust Scheme/ BEA (MPF) Value Scheme/ BEA (MPF) Industry Scheme Tax Deductible Voluntary Contributions Account Member Application Form

TVC Account Details

Items	TVC Details
Contribution charge	Nil
Withdrawal charge	Nil
Minimum contribution period	Nil
Constituent fund switching and change of investment choice	No limit
Minimum amount of regular monthly contribution	HK$100
Minimum amount of each lump sum contribution	HK$500²
Withdrawal restrictions	Attainment of the normal retirement at age 65 Early retirement (having reached the age of 60 and have permanently ceased employment/self-employment) Death Small balances Permanent departure from Hong Kong Total incapacity Terminal illness

Flexible & Convenient Account Management

Flexible payment options and investment choice management You can make contributions in flexible amount² by submitting instructions to the eMPF Platform⁶with different contribution payment methods: e.g. pay contribution by cheque^3,4 or eCheque^3,5, make payments via Telegraphic Transfer (TT) and Clearing House Automated Transfer System (CHATS), make direct debit instructions from your bank account, or make inter-bank transfers. In addition, you can switch existing funds and change your future investment fund choice anytime.
Multi-channel account enquiries You can manage your TVC account anytime on the eMPF Platform. In addition, you can check your TVC account through BEA Online or BEA Mobile simply by registering for the BEA Online Services. Besides eMPF Service Centres, you can also visit the BEA MPF Administration Centre, any BEA branch, SupremeGold Centre, or i-Financial Centre for comprehensive MPF services.
Timely information BEA MPF will provide you with a regular Quarterly Benefit Statement, Annual Benefit Statement, TVC summary (issued by eMPF Platform), and Quarterly Fund Fact Sheet to help you manage your account and file tax returns with ease. You can view relevant benefit statements and contribution summary on the eMPF Platform.

¹ This is an aggregate limit for both TVC and other qualifying annuity premiums.

² The contribution amount under the BEA (MPF) Tax Deductible Voluntary Contribution Account is subject to a minimum of HK$100 per month for regular contributions, or HK$500 for each lump sum contribution. The minimum amount of contribution is not applicable to the first contribution.

³ Payments by cheque and eCheque should be in the name of the account holder.

⁴ Payments by paper cheque should be submitted to the eMPF Platform office by post or through drop-in box at any of its eMPF services centres.

⁵ Please deposit an eCheque Order via eCheque Drop Box Service provided by Hong Kong Interbank Clearing Limited and visit www.echeque.hkicl.com.hk for more details. For information of the bank account no. of the Scheme, please contact BEA (MPF) Hotline +852 2211 1775 (Operated by Bank of East Asia (Trustees) Limited).

⁶ Contribution related documents including payment proof or Remittance Statement (if applicable) should be submitted to the eMPF Platform directly.

For enquiries on the operation of eMPF Platform, you can reach out to the eMPF Hotline on 183 2622 or send an email to enquiry@support.empf.org.hk. You can also visit their website (www.empf.org.hk) for more information.

Should you have any enquiries on the product or MPF scheme-specific information, please contact BEA (MPF) Hotline on +852 2211 1775 (Operated by Bank of East Asia (Trustees) Limited), or visit www.hkbea.com.

MPF scheme provider: The Bank of East Asia, Limited
Issuer: Bank of East Asia (Trustees) Limited