Hang Seng MPF Scheme

Important Notes

The Hang Seng Mandatory Provident Fund – SuperTrust Plus is a mandatory provident fund scheme.
You should consider your own risk tolerance level and financial circumstances before making any investment choices or investing in the MPF Default Investment Strategy (the ‘DIS’). You should note that the DIS Constituent Funds, namely, the Core Accumulation Fund and the Age 65 Plus Fund, the DIS or a certain Constituent Fund may not be suitable for you. There may be a risk mismatch between the DIS Constituent Funds or a certain Constituent Fund and your risk profile (the resulting portfolio risk may be greater than your risk preference). When you are in doubt as to whether the DIS or 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. You should 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. We recommend that you consult with the Trustee if you have doubts on how you are being affected.
The Guaranteed Fund invests solely in an approved pooled investment fund (‘APIF’) 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 Guaranteed Fund, if any, are therefore subject to the credit risks of HSBC Life (International) Limited. Please refer to section 4 ‘Risks’ of the MPF Scheme Brochure for details of the credit risk.
The guarantee in the Guaranteed Fund only applies under certain conditions. Please refer to subsection 3.4.3(f) ‘Guarantee features’ of the MPF Scheme Brochure for details of the guarantee features (including in the context of payment of accrued benefits in instalments) and the ‘Guarantee Conditions’.
MPF Benefits, AVC Benefits and TVC Benefits are payable on a Member’s 65th birthday or on early retirement on or after reaching age 60. The accrued benefits can be paid in one lump sum or in instalments, at the Member’s election. The accrued benefits can be paid in such form and on such terms and conditions as the Trustee may, to the extent not prohibited by the MPF Ordinance or General Regulation, prescribe. Please refer to subsection 6.7(c) ‘Payment of MPF Benefits, AVC Benefits and TVC Benefits’ of the MPF Scheme Brochure for details.
You should not invest based on the information shown on this page alone and should read the MPF Scheme Brochure.
Investment involves risks. Past performance is not indicative of future performance. The value of financial instruments, in particular stocks and shares, and any income from such financial instruments, may go down as well as up. For further details including the product features and risks involved, please refer to the MPF Scheme Brochure.
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.

Hang Seng MPF provides a range of investment options to suit your investment needs. You can choose from a list of Constituent Funds available under the MPF scheme.

For details of management fees of Constituent Funds, please click here.

Hang Seng Mandatory Provident Fund – SuperTrust Plus

Hang Seng Mandatory Provident Fund – SuperTrust Plus comprises a total of 20 Constituent Funds which include actively managed, passively managed and index-tracking Constituent Funds to suit your retirement needs.

Constituent Funds that are actively managed funds
No.	Constituent Fund	Investment Manager^{^}	Fund Structure	Fund Descriptor	Investment Focus	Risk Rating^*	Risk Class^#
1.	MPF Conservative Fundⁱ	N/A	Feeder fund	Money Market Fund – Hong Kong	• 100% in high grade HKD-denominated monetary instruments	1	1
2.	Global Bond Fund	N/A	Feeder fund	Bond Fund – Global	• 70%–100% in fixed and floating rate debt securities; • up to 30% in deposits and other investments as allowed under the General Regulation	2	4
3.	Guaranteed Fund^ii,iii,iv	N/A	Feeder fund	Guaranteed Fund	• 0%–50% in equities; • 20%–100% in bonds; • 0%–80% in cash	1	3
4.	Age 65 Plus Fund	N/A	Feeder fund	Mixed Assets Fund – Global – Maximum equity around 25%	• 15%–25% in Higher Risk Assets; • 75%–85% in Lower Risk Assets	1	4
5.	Core Accumulation Fund	N/A	Feeder fund	Mixed Assets Fund – Global – Maximum equity around 65%	• 55%–65% in Higher Risk Assets; • 35%–45% in Lower Risk Assets	3	5
6.	Stable Fund	N/A	Feeder fund	Mixed Assets Fund – Global – Maximum equity around 45%	• 55%–85% in debt securities, bonds and deposits; • 15%–45% in equities and other investments as allowed under the General Regulation	2	4
7.	Balanced Fund	N/A	Feeder fund	Mixed Assets Fund – Global – Maximum equity around 85%	• 55%–85% in equities and equity-related investments; • 15%–45% in deposits, debt securities and other investments as allowed under the General Regulation	3	5
8.	Growth Fund	N/A	Feeder fund	Mixed Assets Fund – Global – Maximum equity around 100%	• 70%–100% in equities and equity-related investments; • up to 30% in deposits, debt securities and other investments as allowed under the General Regulation	4	6
9.	Global Equity Fund	N/A	Feeder fund	Equity Fund – Global	• 70%–100% in equities and equity-related investments; • up to 30% in deposits, debt securities and other investments as allowed under the General Regulation	4	6
10.	North American Equity Fund	N/A	Feeder fund	Equity Fund – North America	• 70%–100% in equities and equity-related investments; • up to 30% in deposits, debt securities and other investments as allowed under the General Regulation	4	6
11.	European Equity Fund	N/A	Feeder fund	Equity Fund – European countries	• 70%–100% in equities and equity-related investments; • up to 30% in deposits, debt securities and other investments as allowed under the General Regulation	4	6
12.	Asia Pacific Equity Fund	N/A	Feeder fund	Equity Fund – Asia Pacific, excluding Japan	• 70%–100% in equities and equity-related investments; • up to 30% in deposits, debt securities and other investments as allowed under the General Regulation	4	6
13.	Hong Kong and Chinese Equity Fund	N/A	Feeder fund	Equity Fund – mainland China and Hong Kong	• 70%–100% in equities and equity-related investment (within the portfolio 10%–75% may invest in Chinese equities and 25%–90% may invest in other equities listed in Hong Kong and/or equities deriving a preponderant part of their income and/or assets from Hong Kong); • up to 30% in deposits, debt securities and other investments as allowed under the General Regulation	5	6
14.	Chinese Equity Fund	N/A	Feeder fund	Equity Fund – mainland China	• 70%–100% in equities and equity-related investments; • up to 30% in deposits, debt securities and other investments as allowed under the General Regulation	5	7
Constituent Funds that are primarily investing in passively managed funds
No.	Constituent Fund	Investment Manager^{^}	Fund Structure	Fund Descriptor	Investment Focus	Risk Rating^*	Risk Class^#
1.	ValueChoice Balanced Fund	N/A	Feeder fund	Mixed Assets Fund – Global – Maximum equity around 80%	• 60%–80% in equities and equity-related investments; • 20%–40% in deposits, debt securities and other investments as allowed under the General Regulation	3	5
Constituent Funds that are index-tracking equity funds
No.	Constituent Fund	Investment Manager^{^}	Fund Structure	Fund Descriptor	Investment Focus	Risk Rating^*	Risk Class^#
1.	ValueChoice North America Equity Tracker Fund	N/A	Feeder fund	Equity Fund – North America	• Up to 100% in equities	4	6
2.	ValueChoice Europe Equity Tracker Fund	N/A	Feeder fund	Equity Fund – European countries	• Up to 100% in equities	4	6
3.	ValueChoice Asia Pacific Equity Tracker Fund	N/A	Feeder fund	Equity Fund – Asia-Pacific, excluding Japan	• Up to 100% in equities	4	6
4.	Hang Seng China Enterprises Index Tracking Fund	N/A	Feeder fund	Equity Fund – mainland China	• Up to 100% in equities	5	7
5.	Hang Seng Index Tracking Fund	N/A	Feeder fund	Equity Fund – Hong Kong	• Up to 100% in equities	5	7

For the investment objective of each Constituent Fund and other particulars, please refer to section 3.4 “Statement of investment policies of each Constituent Fund and other particulars” of the MPF Scheme Brochure.

^	As all the Constituent Funds are feeder funds investing in a single approved pooled investment fund or index-tracking collective investment scheme, no investment manager is required to be appointed at the Constituent Fund level. The investment manager of the underlying approved pooled investment fund or index-tracking collective investment scheme of each of the Constituent Funds is listed in section 2 ‘Directory of Trustee and Service Providers’ of the MPF Scheme Brochure.
*	Information as at 30 September 2023. For details of Risk Rating, please click here.
^#	Information as at 30 September 2023. For details of Risk Class, please click here. The risk class is prescribed by the Mandatory Provident Fund Schemes Authority according to the Code on Disclosure for MPF Investment Funds and the risk class has not been reviewed or endorsed by the Securities and Futures Commission. Risk class is not available to the Constituent Fund with performance history of less than 3 years since inception to the risk class reporting quarter end date.

Default Investment Strategy

The Default Investment Strategy (‘DIS’) is a ready-made investment arrangement mainly designed for those members who are not interested or do not wish to make an investment choice, and is also available as an investment choice itself, for members who find it suitable for their own circumstances. For those members who do not make an investment choice, their contributions and accrued benefits transferred from another Registered Scheme will be invested in accordance with the DIS.

The DIS aims to balance the long term effects of risk and return through investing in two Constituent Funds, namely the Core Accumulation Fund and the Age 65 Plus Fund, according to the pre-set allocation percentages at different ages. The DIS will manage investment risk exposure by automatically reducing the exposure to higher risk assets and correspondingly increasing the exposure to lower risk assets as the member gets older.

For further details of the DIS, please refer to the MPF Scheme Brochure.

i.	Fees and charges of an MPF Conservative Fund can be deducted from either: (i) the assets of the MPF Conservative Fund; or (ii) Members' account by way of unit deduction. The MPF Conservative Fund under the Hang Seng Mandatory Provident Fund – SuperTrust Plus uses method (i) and therefore, its unit prices, net asset value ('NAV') and fund performance quoted have reflected the impact of fees and charges.
ii.	The Guaranteed Fund 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 Guaranteed Fund, if any, are therefore subject to the credit risks of HSBC Life (International) Limited. The guarantee in the Guaranteed Fund only applies under certain conditions. Please refer to subsection 3.4.3(f) ‘Guarantee features’ of the MPF Scheme Brochure for details of the guarantee features (including in the context of payment of accrued benefits in instalments) and the ‘Guarantee Conditions’.
iii.	Guarantee Conditions: • Withdrawal of balances with respect to one of the following: o termination of employment^; o reaching retirement age or normal retirement date; o death; o reaching early retirement date; o total incapacity; o terminal illness; o permanent departure from the Hong Kong SAR; or o making a claim on small balance under section 162(1)(c) of the Mandatory Provident Fund Schemes (General) Regulation (Cap. 485A of the laws of Hong Kong) and any subsequent amendments (‘General Regulation’). • Transfer of balances to a recipient scheme (including the existing scheme) on termination of employment^ ** This condition does not apply to balances in a personal account (as defined in the General Regulation) or a TVC account invested in the Guaranteed Fund. However, the other Guarantee Conditions will still be applicable to the accrued benefits held in the personal account or TVC account.
iv.	The account balance of a Member in the Guaranteed Fund will be crystallised (the ‘Crystallised Amount’) on 31 December in the year in which the Member reaches age 65. The Crystallised Amount will be the greater of the Actual Balance and the Guaranteed Balance to which the Member would be entitled had the Member withdrawn the accrued benefits from the Guaranteed Fund on 31 December in that year on the ground of reaching retirement age or normal retirement date. This is calculated in accordance with the MPF Scheme Brochure (the ‘31 December Amount’). However, where the 31 December Amount is less than the amount of accrued benefits as at the Member’s 65th birthday calculated in accordance with the MPF Scheme Brochure (the ‘65th Birthday Amount’), the 65th Birthday Amount will be deemed to be the Crystallised Amount. Where the Member switches or withdraws part of the investment out of the Guaranteed Fund between the Member’s 65th birthday and 31 December in that year, the Crystallised Amount will be the higher of the 31 December Amount and the pro-rated 65th Birthday Amount calculated in the following manner: (X/Y) times Z where: X: the number of units held in the Guaranteed Fund in respect of the Member ('GF Units') as at 31 December in the relevant year Y: the number of GF Units as at 65th birthday of the Member Z: the greater of the Guaranteed Balance and the Actual Balance as at 65th birthday of the Member The Crystallised Amount will then become the Actual Balance from 1 January in the following year. No further Guarantee will apply to the Crystallised Amount and any new contributions or transfer-in assets that are to invest in the Guaranteed Fund thereafter (the ‘Relevant Amount’). However, while all fees and charges including the Guarantee charge will continue to apply to the Relevant Amount, the Guarantee charge will be rebated to the Member on a monthly basis in arrears, calculated by using the daily NAV in that month. Please refer to Appendix 1 for the illustrative examples of the MPF Scheme Brochure for how the Guarantee operates in the context of payments in instalments.

Investment involves risks. Past performance is not indicative of future performance. The value of financial instruments, in particular stocks and shares, and any income from such financial instruments, may go down as well as up. For further details including the product features and risks involved, please refer to the MPF Scheme Brochure.

Issued by Hang Seng Bank Limited

Contact Us
Hang Seng MPF Hotline	Make an e-Appointment
Existing MPF Customers	Make a reservation online and meet with our MPF Specialists at designated branches
- Employers: 2288 6822
- Members / Self-employed persons: 2213 2213
- HKSARG Employees: 2269 2269
Non-existing MPF Customers
- Enquiries / Apply for Hang Seng MPF: 2997 2838

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