MPF provider to offer fee rebate incentive

六月 21, 2011
Joe Chan

In a bid to boost client numbers, BOCI-Prudential – Hong Kong’s second-largest provider of Mandatory Provident Fund services – will offer a rebate on its management fees.

The 0.1 percentage point rebate will be offered to all MPF members whose accounts are valued at more than HK$250,000, said chief executive Thomas Chan Yu-cheong.

BOCI-Prudential is the first among the SAR’s top five MPF providers to offer such a rebate, effectively immediately.

“The rebate is expected to attract more high-income customers after MPF members are able to choose their own providers from July 2012,” he said.

The government proposed lifting the lower income threshold of mandatory contribution of employee to HK$6,500 from HK$5,000, effective November 1. The higher income threshold will be revised to HK$25,000 from HK$20,000. The maximum monthly contribution will be revised to HK$1,250 from HK$1,000.

As at March 31, the average asset value of 2.51 million MPF members amounted to HK$150,529, according to the Mandatory Provident Funds Authority.

“A fee reduction for all MPF customers in the second half this year is unlikely, following a series of fee cuts in the industry earlier this year,” Chan said.

Market leader HSBC said it is studying a loyalty plan for its MPF business. It has no plans yet to offer a rebate on the management fee.



Our Blog. Stay informed with MPF.HK insights.


根據強積金研究機構《積金評級》(MPF Ratings)資料,截至今年3月底止,MPF資產累積至1.17萬億元...

永久離港 取回MPF

在MPF法定框架內,到底何謂「永久離港」? 「現行的《強制性公積金計劃條例》,並無白紙黑字列明,何謂『永久離港...

強積金年蝕逾9% 人均輸28257元 海嘯後表現最差 明年扭虧有難度