12 Dec 2011 為僱員登記參加強積金計劃並準時供款 Enrol employees in your MPF scheme and make contributions on time 最低有關入息水平修訂由 2011 年 11 月 1 日起生效, 請為僱員作準確無誤的強制性供款 Make correct and accurate mandatory contributions for your employees after amendment of the minimum level of relevant income effective 1 November 2011 為你的僱員作出自願性供款 Making voluntary contributions for your employees 強積金保守基金的訂明儲蓄利率 Prescribed savings rates for MPF Conservative Fund 恒生強積金保留賬戶 助你的僱員集中管理強積金 掌握未來創富之道 Hang Seng MPF Preserved Account - Helps your employees consolidate their MPF and take control of the future of their wealth 恒生強積金資訊卡 Hang Seng MPF Information Card
MPF Tips Important Notes The Hang Seng Mandatory Provident Fund - SuperTrust, SuperTrust Plus, SimpleChoice and ValueChoice are mandatory provident fund schemes. You should consider your own risk tolerance level and financial circumstances before making any investment choices. When, in your selection of funds, you are in doubt as to whether a certain 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 fund(s) most suitable for you taking into account your circumstances. The respective Guaranteed Fund under SuperTrust and SuperTrust Plus invests solely in an approved pooled investment fund in the form of an insurance policy provided by HSBC Life (International) Limited. The guarantee is also given by HSBC Life (International) Limited. Your investments in the relevant Guaranteed Fund, if any, are therefore subject to the credit risks of HSBC Life (International) Limited. Please refer to the Warning section under Guaranteed Fund in Part II Fund Structure of the relevant Principal Brochure for details of the credit risk. The guarantee in the relevant Guaranteed Fund only applies under certain conditions. Please refer to the 'Guarantee features' section under 'Guaranteed Fund' in Part II - Fund Structure of the relevant 'Principal Brochure' for full details of the guarantee features and Guarantee Conditions. You should not invest based on this document alone and should read the relevant Principal Brochure. Enrol employees in your MPF scheme and make contributions on time Under the MPF legislation, employers are required to enrol their employees who aged 18 to aged below 65 in an MPF scheme and make mandatory contributions on time, with statutory deadlines shown in the table below. Employee type Deadline to enrol employees into your MPF scheme Deadline to submit Remittance Statement and make mandatory contributions in full Non-casual employees Casual employees Within 60 days of commencement of employment Within 10 days of commencement of employment * By the 10th day of the calendar month following the payroll cycle in which the 60-day permitted period ends* Within 10 days after the end of payroll cycle in which the 10-day permitted period ends * Generally, employer s mandatory contributions are calculated from the employees first day of employment. Employee s mandatory contributions are calculated from the first day of the complete payroll cycle following the payroll cycle in which the 30-day contribution holiday ends. Any incomplete payroll cycle immediately following the contribution holiday will be exempted as well. www.mpfa.org.hk For further details, please visit the Mandatory Provident Fund Schemes Authority s (MPFA) website at www.mpfa.org.hk. 2288 6822 Please be reminded to enrol your employees within the statutory deadline and make contributions in full and on time. If you are using a paper-based contribution method, we recommend you allow sufficient time for the mailing of the Remittance Statement and cheques (if any) before the contribution day. Please note that a longer processing time is required by Hongkong Post to process any unpaid or underpaid mail. Please ensure that sufficient postage has been paid so that your mail can reach our office before the contribution day to avoid any surcharge or penalties due to the delay. For enquiries about the enrolment and contribution arrangement for employees, please call Hang Seng MPF Employer Direct on 2288 6822.
Make correct and accurate mandatory contributions for your employees after amendment of the minimum level of relevant income effective 1 November 2011 2288 6822 The minimum level of relevant income* has been amended to HK$6,500 from the original level of HK$5,000 effective 1 November 2011. For contribution periods starting on or after the effective date, employees with a monthly relevant income of less than HK$6,500 are not required to make the employees part of the mandatory contributions, but employers still have to make the employers part of the mandatory contributions. Self-employed persons with relevant income of less than HK$6,500 monthly or HK$78,000 annually do not have to make mandatory contributions. Therefore, please make sure your payroll and contribution calculation system is updated with the new minimum level of relevant income for calculating mandatory contributions so as to make correct and accurate mandatory contributions for your employees. Please be reminded that any over-deduction of employee s salary which constitutes overpayment of employee s portion of mandatory contribution should be refunded to the relevant employee by the employer. You can request the refund by providing written instructions to us. For further details of the minimum level of relevant income, please visit the MPFA website www.mpfa.org.hk. You may also call Hang Seng MPF Employer Direct on 2288 6822 for enquiries. * Relevant income is defined as any wages, salary, leave pay, fee, commission, bonus, gratuity, perquisite or allowance (including housing allowance or other housing benefit), expressed in monetary terms, paid or payable by an employer (directly or indirectly) to a relevant employee in consideration of his employment under the employment contract, but does not include severance payments or long service payments under the Employment Ordinance.
Making voluntary contributions for your employees 2288 6822 You can make regular voluntary contributions for your employees as part of the employee benefits programme to motivate and retain your employees. You can choose whether these voluntary contributions will be fully and immediately vested in your employees or whether a vesting scale will apply. This is normally determined by an employee s length of service and/or reason for termination of employment. To set up employer s voluntary contributions and the corresponding vesting arrangement, just complete the Additional Voluntary Contribution Application Form (HA02 for SuperTrust, HA12 for SuperTrust Plus, HAE2 for SimpleChoice, HAV2 for ValueChoice) and submit it to us. Moreover, you can offset severance payments and long service payments as required under the Employment Ordinance by the accrued benefits derived from contributions you have made to your employees in the MPF scheme. You can apply to the trustee for payment of the relevant amount to you for this purpose, but only after you have paid the employees their due severance payment and long service payments. The mandatory and voluntary contributions you have made to your employees are your deductible expenses under Profits Tax, provided that the deduction does not exceed 15% of the employee total emoluments in the relevant year of assessment. Please call Hang Seng MPF Employer Direct on 2288 6822 for any assistance or enquiries. Prescribed savings rates for MPF Conservative Fund Period Prescribed savings rate 1-31/08/2011 1-30/09/2011 1-31/10/2011 1-30/11/2011 Source: The MPFA website at www.mpfa.org.hk The MPFA publishes the prescribed savings rate in the South China Morning Post on the second working day of each month.
MPF Tips Hang Seng MPF Preserved Account - Helps your employees consolidate their MPF and take control of the future of their wealth With a Hang Seng MPF Preserved Account, your employees can consolidate the management of their accumulated MPF accrued benefits from their previous employers into one single account. Further, to match their personal retirement needs, they can decide on their own how to allocate their MPF balance to various constituent funds based on their risk tolerance level and the performances of the relevant constituent funds. Also, via Hang Seng Personal e-banking, an online platform with comprehensive MPF services support, their fund switching instructions can be dealt with at their fingertips to make wealth management easier for them. Manage all their MPF balances in a single MPF preserved account, review and establish their fund choices anytime, anywhere. Choose from constituent funds of different tolerance levels under the 4 master trust schemes with different features offered by Hang Seng MPF. Enjoy the ease of performing online balance enquiries and fund switching instructions via Hang Seng Personal e-banking quickly and conveniently. Hang Seng MPF is sponsored by the award-winning Hang Seng Bank Limited, one of the largest locally incorporated listed banks in Hong Kong (in terms of market capitalization). They can be rest assured that Hang Seng MPF will provide strong support in helping them prepare for a secure retirement. Four schemes to choose from enjoying preferential rates (1) for the management fees They can choose to transfer their funds to the Preserved Account of Hang Seng MPF - SuperTrust Plus, SuperTrust, SimpleChoice or ValueChoice according to their own needs. ValueChoice SuperTrust SimpleChoice SuperTrust Plus As a Hang Seng MPF Preserved Account holder, they can enjoy preferential rates (1) for the management fees of some constituent funds. The management fee for the constituent funds range between 0.79% and 1.5% (2) of NAV per annum. The difference in the management fees will be credited to their MPF preserved account as a special bonus (3). They can refer to the relevant Principal Brochure for more details of the management fees and other applicable fees, charges and expenses (4) of the constituent funds. turn to the next page
from the previous page Hang Seng MPF Preserved Account - Take control of your wealth management to build a great future It s very easy to open a Hang Seng MPF Preserved Account. It only takes three steps: 1 2 3 Complete one of the Preserved Account Holder Application Forms as follows: SuperTrust(HA71) / SuperTrust Plus(HA81) / SimpleChoice(HA77) / ValueChoice(HA88) Complete a Scheme Member s Request for Fund Transfer Form (HAPM) Mail the completed forms to Hang Seng MPF Administrator 2997 2838 hangseng.com/empf Please advise your employees of this information. For any enquiries, please call the Hang Seng MPF Sales Direct on 2997 2838 or visit hangseng.com/empf. (1) The constituent funds with preferential rates on the management fees include : Hang Seng MPF SuperTrust Plus (Guaranteed Fund, Flexi-Managed Fund, Stable Fund, Stable Growth Fund, Balanced Fund, Growth Fund, North American Equity Fund, European Equity Fund, Asia Pacific Equity Fund, Hong Kong and Chinese Equity Fund, Chinese Equity Fund), SuperTrust (Guaranteed Fund, Balanced Fund, Growth Fund), and SimpleChoice (Global Equity Fund). Please call Hang Seng MPF Sales Direct at 2997 2838 to obtain the relevant leaflet for details of fees and charges applied to Hang Seng MPF Preserved Account. (2) The guaranteed charge of 0.75% p.a. of NAV applies to Guaranteed Fund under Hang Seng MPF SuperTrust Plus and SuperTrust. (3) The discount on the management fees for constituent funds (if any) will be refunded in the form of bonus units allocation every month. (4) Other applicable fees, charges and expenses include but are not limited to joining fee, annual fee, contribution charge, offer spread, bid spread, withdrawal charge and other expenses. For further details, please refer to the relevant Principal Brochure. Hang Seng MPF Information Card For your convenience to access the information about Hang Seng MPF and our customer service, we have provided below an Hang Seng MPF Information Card for you and your employees. Please cut along the dotted line, and keep it so that you and your employees can contact us for enquiries in the future. Hang Seng MPF - Employers and Employees Online Enquiry Hang Seng MPF - Employers and Employees Service Hotlines Employees / Self-employed persons e-banking Hang Seng Personal e-banking: hangseng.com/e-banking Select MPF Services on the left service menu after logon General Enquiries Hang Seng MPF Website: hangseng.com/empf Commonly Used Forms are available Sales Direct 2997 2838 Employer Direct 2288 6822 Employees Hotline Employees / Self-employed persons: 2213 2213 HKSARG Employees: 2269 2269 This newsletter is issued by Hang Seng Bank Limited. This newsletter contains important MPF information and news related to employees of your company. Employers are highly encouraged to pass the related information to their relevant employees for reference. Important Notes: The information contained in this newsletter is for reference only and the provisions in the MPF legislation and announcements by the Mandatory Provident Fund Schemes Authority shall prevail. If you are in doubt about the meaning or the effect of the contents of this newsletter, please seek independent professional advice. Investment involves risks. Past performance is no guide to future performance. For further details, including the product features and risks involved, please refer to the relevant Principal Brochure. Customers have a right to request that personal data about them not be used for direct marketing purposes. Requests can be made in writing to the Data Protection Officer, HSBC Provident Fund Trustee (Hong Kong) Limited, c/o HSBC Life (International) Limited, PO Box 73770 Kowloon Central Post Office.