BOCI-Prudential offers MPF fee rebate, eyes high-income clients

BOCI-Prudential is offering a 0.1% rebate for its MPF members who have HK$250,000 or above in a MPF scheme the company rolled out last July.

The company said the new offer aims to attract more high income groups for it MPF scheme and is available until March 2012.

The scheme – ‘My Choice Mandatory Provident Fund Scheme’ has so far attracted assets of HK$140m as at end-May this year. Dominic Chim, senior manager anticipates this could rise to $200m by the first half 2011.

The firm currently has two MPF schemes with combined assets of HK$33bn making it the fourth biggest MPF provider in Hong Kong.

Meanwhile, the firm is sticking to its long-term target of increasing its market share with the aim of becoming the second biggest MPF player ahead of Manulife and AIA Hong Kong.