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China Life MPF Master Trust Scheme
To know moreeMPF Corner
To know moreAbout Us
China Life Trustees Limited("CLT")is a wholly owned subsidiary of China Life Insurance (Overseas) Company Limited, which is a member of China Life Insurance (Group) Co. CLT is one of the trustees approved by the Mandatory Provident Fund Schemes Authority ("MPFA") to administer the registered mandatory provident fund schemes in the Hong Kong Special Administrative Region.
CLT is dedicated to offer you the best-quality provident fund services, so that you can manage your mandatory provident fund contributions smartly and plan well for the future. By co-operating with renowned investments managers around the world, CLT strives to provide you with fruitful returns from contributions you have carefully saved up over the years.
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Member e-Services Introduction
- Video for Introducing Member e-Services
- Know More About e-Services
- Online Account Complete User Guide - Member
- 1. Two-Factor Authentication (First-Time Registration, Login, Reset Password)
- 2. List of Accounts and Balance
- 3. Check Contribution History
- 4. Check and Change Investment Choice
- 5. Edit Password
- 6. Download Statement
- 7. Self-employed Person Contribution Debit Note
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Employer e-Services Introduction
- China Life MPF e-Services for Employers (Chinese version only)
- Online Service Guide – Employe
- 1. Login
- 2. Check Employee Detail
- 3. Check Contribution Detail
- 4. Contribution Handling
- 5. Download Pre-printed Remittance Statement
- 6. Reset and Edit Password
- 7. Submission of Contribution Information
- Employers' Handbook on MPF Obligations
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E-Enrollment
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Service Pledge
Service Scope | Service Type | Service Pledge | |
---|---|---|---|
Member Enrollment | Account set up of all types of members including Regular Employee / Self-Employed Person / Personal Account / Tax Deductible Voluntary Contribution Account | 5 working days1 | |
Contribution Allocation | Contribution handling of Mandatory Contributions and Voluntary Contributions / Tax Deductible Voluntary Contributions / Smart Easy Personal Contributions | Employer pays by direct debit method (i.e. autopay) | 5 working days2 |
Employer pays by direct credit to trustee's bank account | 3 working days3 | ||
Employer pays by cheque | 3 working days4 | ||
Change of Investment Allocation | Change of Investment Allocation of Existing Account Balance | 2 working days5 | |
Change of Investment Mandate of Future Contributions | 2 working days6 | ||
Transfer of MPF Benefits | Arrangement of all transfer types including Employee Choice Arrangement / self-employed person, personal account holder or employee ceasing employment / tax deductible voluntary contribution account holder | As a new trustee, the processing time for serving a copy of election form on the original trustee (after the date of receipt of completed instruction) | 4 working days7 |
As an original trustee, the processing time for redeeming the fund units in member's account | 4 working days8 | ||
As an original trustee, the processing time for transferring MPF benefits out to new scheme after redemption of fund units | 6 working days9 | ||
As a new trustee, the processing time for transferring MPF benefits in from original scheme | 2 working days10 | ||
Withdrawal of MPF Benefits | Arrangement of all withdrawal types including lump sum / By instalments (applicable to claims of benefits on the grounds of attaining the retirement age of 65 and early retirement only) | The processing time for redeeming the fund units in member's account (after the date of receipt of completed instruction) | 4 working days11 |
The processing time for paying the accrued benefits out by trustee after redemption of fund units | 9 working days12 | ||
Complain Handling | Handling of complains from different sources including MPFA / directly from member | Acknowledgment receipt of the complaint by phone | 48 hours13 |
Send a written acknowledgment receipt to the complainant who cannot be reached by phone | 7 working days13 | ||
Complete case investigation and send a reply letter to the complainant | 1 calendar month13 |
Remarks:
- From the day following the day of receipt of applicant's duly completed form and all required supporting documents by the trustee's administration centre to the working day on which the trustee has completed the member's account setup (exclusive of the day of receipt of the applicant's duly completed form and the supporting documents by the trustee). However, the relevant information may not be updated simultaneously to the trustee's website, mobile apps and IVRS. You may contact the trustee for details. If the form is submitted through other channels provided by the trustee (e.g. bank branch), it may take extra time to pass the form to the administration centre of the trustee.
- From the day following the day of receipt of employer's completed Remittance Statement by the trustee's administration centre to the working day on which the trustee has received the contributions from employer's designated bank account and then used the contributions to subscribe for units in the relevant constituent fund(s) (i.e. the date on which the fund price used for fund subscription is quoted) for the member (exclusive of the day of receipt of the Remittance Statement by the trustee). If the document is submitted through other channels provided by the trustee (e.g. bank branch), it may take extra time to pass the form to the administration centre of the trustee.
- From the day following the day of receipt of employer's completed Remittance Statement and the contributions by the trustee's administration centre to the working day on which the trustee has used the contributions to subscribe for units in the relevant constituent fund(s) (i.e. the date on which the fund price used for fund subscription is quoted) for the member (exclusive of the day of receipt of the Remittance Statement and the contributions by the trustee). If the document is submitted through other channels provided by the trustee (e.g. bank branch), it may take extra time to pass the form to the administration centre of the trustee.
- From the day following the day of receipt of employer's completed Remittance Statement and cheque by the trustee's administration centre to the working day on which the trustee has used the contributions to subscribe for units in the relevant constituent fund(s) (i.e. the date on which the fund price used for fund subscription is quoted) for the member (exclusive of the day of receipt of the Remittance Statement and cheque by the trustee). If the document is submitted through other channels provided by the trustee (e.g. bank branch), it may take extra time to pass the form to the administration centre of the trustee.
- From the day following the day of receipt of member's valid instruction (before the cut-off time on that day) by the trustee's administration centre to the working day on which the trustee has completed changing the investment allocation of the existing account balance and allocating the relevant fund units into member's account (exclusive of the day of receipt of the instruction by the trustee). However, the relevant information may not be updated simultaneously to the trustee's website, mobile apps and IVRS. You may contact the trustee for details. If the instruction is received by the trustee after the cut-off time on a working day or at any time on a non-working day, it will be deemed to have been received on the next working day.
- From the day following the day of receipt of member's valid instruction (before the cut-off time on that day) by the trustee's administration centre to the working day on which the trustee has completed updating the investment allocation of future contributions (exclusive of the day of receipt of the instruction by the trustee). However, the relevant information may not be updated simultaneously to the trustee's website, mobile apps and IVRS. You may contact the trustee for details. If the instruction is received by the trustee after the cut-off time on a working day or at any time on a non-working day, it will be deemed to have been received on the next working day.
- From the day following the day of receipt of member's duly completed election form by the new trustee's administration centre to the working day on which the new trustee has served a copy of the election form on the original trustee (exclusive of the day of receipt of the form by the new trustee). If the form is submitted through other channels provided by the trustee (e.g. bank branch), it may take extra time to pass the form to the administration centre of the trustee.
- From the day following the day on which the original trustee receives a copy of the duly completed election form and all required supporting documents from the new trustee to the working day on which the original trustee has redeemed the fund units in the member's account (exclusive of the day of receipt of the copy of the form and the supporting documents by the original trustee).
- From the day following the day on which the original trustee has redeemed the fund units in the member's account to the working day on which the original trustee has transferred the accrued benefits out to the new trustee (exclusive of the day of redemption of fund units by the trustee).
- From the day following the day on which the new trustee receives the accrued benefits from the original trustee to the working day on which the new trustee has used the transferred-in benefits to subscribe for units in the relevant constituent fund(s) (i.e. the date on which the fund price used for fund subscription is quoted) for the member (exclusive of the day of receipt of the accrued benefits by the new trustee).
- From the day following the day of receipt of claimant's duly completed claim form and all required supporting documents by the trustee's administration centre to the working day on which the trustee has redeemed the fund units in the member's account (exclusive of the day of receipt of the form and the required supporting documents by the trustee). To facilitate members' comparison, the processing time provided in this field assumes that the claim for payment is made on the ground of attaining the retirement age of 65, early retirement, total incapacity, terminal illness, death, or small balance. The trustee may need more time to process claims under other circumstances. If the form is submitted through other channels provided by the trustee (e.g. bank branch), it may take extra time to pass the form to the administration centre of the trustee.
- From the day following the day on which the trustee has redeemed the fund units in the member's account to the working day on which the trustee has paid the accrued benefits to the claimant (exclusive of the day of redemption of fund units by the trustee).
- From the day following the day on which the trustee has received the complain.
Awards
China Life MPF Master Trust Scheme has been honoured with numerous awards in the industry *:
Hong Kong Institute of Marketing Market Leadership Award 2022/2023
Market Leadership in MPF Products (3rd consecutive year)
China Life Trustees Limited
Triple Crown Award
China Life Trustees Limited
Source:
According to assessment of Hong Kong Institute of Marketing on enterprises’ game-changing marketing plans and professional performance under the new-normal circumstances in 2022 to 2023. Please refer to:https://hkim.org.hk/cms/content/20426(English version only)
Quamnet Outstanding Enterprise Awards 2022
Outstanding MPF Scheme (6th consecutive year)
China Life Trustees Limited
Best Pension Service Provider (2nd consecutive year)
China Life Trustees Limited
Source:
Based on Quamnet’s qualitative assessment, including products and services, branding & image, governance, marketing, development and potential, performance, corporate responsibility, business strategy or development. Please refer to:
https://events.quamnet.com/landing/QOEA2022/EN_US/index.html
Bloomberg Business week
Top Fund Awards 2022
Best Performer - Guaranteed Fund
(MPFs - 10 Years)
China Life Joyful Retirement Guaranteed Fund
Source:
The Mandatory Provident Fund Awards assessed total return figures based on Bloomberg data as of 30 September 2022 and evaluated funds subject to asset class categories to identify the best performing funds. Please refer https://www.bbwhkevent.com/tfa2022.
Hong Kong Economic Journal
Financial Services Awards of Excellence 2023
Excellence MPF Scheme Award
China Life Trustees Limited
Source:
The awards was recognized based on Hong Kong Economic Journal ’s qualitative assessment, including the strategy of excellence in financial services and innovation. Published on 5 September 2023.
Important Note:
The above information are for reference only and it does not represent any form of guarantee or professional investment advice. It does not constitute any invitation or offer for investment; nor does it form the basis for any agreement to sell or purchase any products. The awards were based on relevant methodology. Investment involves risks, past performance is not indicative of future performance. You should read the MPF Scheme Brochure for the China Life MPF Master Trust Scheme (“MPF Scheme Brochure”) for details including the product features and risks.
Important Notice
- China Life MPF Master Trust Scheme (“Scheme”) is a registered mandatory provident fund scheme. You should consider your own risk tolerance level and financial circumstances before making any investment choices in the Scheme. When, in your selection of constituent funds, 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 independent financial and/or professional advice and choose the constituent fund(s) most suitable for you taking into account your circumstances.
- In the event that you do not make any investment choices, please be reminded that your contributions made and/or benefits transferred into the Scheme will be invested in accordance with the Default Investment Strategy and the Default Investment Strategy may not be necessarily suitable for you. Please refer to “Default Investment Strategy (“DIS”)” under the chapter “ADMINISTRATIVE PROCEDURES” of the MPF Scheme Brochure for China Life MPF Master Trust Scheme (“MPF Scheme Brochure”) for the details of the Default Investment Strategy of the Scheme.
- China Life Joyful Retirement Guaranteed Fund in the Scheme invests solely in an insurance policy approved pooled investment fund (“Policy APIF”) issued by China Life Insurance (Overseas) Company Limited (incorporated in the People’s Republic of China with limited liability) (“China Life (Overseas)”). Your investments are therefore subject to the credit risks of China Life (Overseas).
- China Life Joyful Retirement Guaranteed Fund in the Scheme provides rate of return guarantee. China Life (Overseas) acts as the guarantor of the Policy APIF in which this constituent fund invests. Your investments in this constituent fund are subject to the credit risks of the guarantor, China Life (Overseas). Your entitlement to the guarantee return under this constituent fund is subject to conditions. Please refer to Annexure A-4 of “Annexure A” under the chapter “FUND OPTIONS, INVESTMENT OBJECTIVES AND POLICIES” of the MPF Scheme Brochure for the details of credit risks, guarantee features, guarantee conditions and guarantee mechanism of this constituent fund.
- Fees and charges of an MPF conservative fund can be deducted from either (i) the assets of the constituent funds or (ii) members’ account by way of unit deduction. China Life MPF Conservative Fund, being an MPF conservative fund, uses method (i) and therefore, unit prices/net asset value/fund performances quoted have incorporated the impact of fees and charges.
- China Life MPF Conservative Fund in the Scheme does not guarantee the repayment of capital.
- Past performance is not indicative of future performance. There is no assurance on investment returns except China Life Joyful Retirement Guaranteed Fund (which guarantee return is subject to conditions stated in Annexure A-4 of “Annexure A” under the chapter “FUND OPTIONS, INVESTMENT OBJECTIVES AND POLICIES” of the MPF Scheme Brochure). Your investment/accrued benefits may suffer significant loss. You should read the MPF Scheme Brochure for details including the product features and risks involved.
Investment involves
risks and not all investment choices available under the Scheme would be suitable for everyone. You
should not invest based on this material alone. The value of constituent funds may go down as well
as up.
Issued by China Life Insurance (Overseas) Company Limited (incorporated in the People's Republic of
China with limited liability).
Important Notice
China Life MPF Master Trust Scheme (“China Life Scheme’’) is scheduled be onboarded to the eMPF Platform on 29 July 2024 (“Onboarding Date”). The eMPF Platform is a one-stop electronic platform for participating employers and scheme members to manage their MPF account(s) across different MPF registered scheme(s) anytime and anywhere through the eMPF Web Portal or the eMPF Mobile App. Upon China Life Scheme got onboard to the eMPF Platform, the administration of China Life Scheme will be performed by the eMPF Platform. Employers and Members are immediately required to manage their MPF accounts via, and submit their MPF instructions, to the eMPF Platform (including revised or supplementary information relating to instructions submitted to trustees previously before the Onboarding Date stated above).
Impact on/Actions to be taken by Employers &
Members
Upon or after onboarding, Employers and Members who intend to use/access to
electronic
channel/submit instructions electronically will have to register with the eMPF Platform.
Employers who currently use their own payroll system to calculate and/or submit contributions to
China Life Trustees Limited (“CLT”), should check with their respective payroll vendors or
in-house IT system and application developers to ensure their payroll system is eMPF-ready or
eMPF-certified. To facilitate the onboarding of China Life Scheme, dealings (including
contributions, switchings, redemptions, change of investment mandate) will be suspended from
22 July 2024 to 28 July 2024 (both dates inclusive). You may submit valid dealing
instructions to CLT by the following respective cut-off dates and time in order to
have your instructions* processed before the Onboarding Date.
Instructions | Received on or before |
---|---|
Application by Employers | 4:00p.m. 15 July 2024 |
Member enrolment | 4:00p.m. 15 July 2024 |
Contributions | 4:00p.m. 12 July 2024 |
Transfer in |
Any valid transfer-in request must reach CLT: ● New and existing Employer - 4:00p.m. 15 July 2024 ● Member - 4:00p.m. 15 July 2024 |
Redemption (excluding transfer out) |
● Termination of participation by Employer - 4:00p.m. 11 July 2024 ● Member’s Permanent departure from Hong Kong - 4:00p.m. 8 July 2024 ● Member’s Termination and other circumstances - 4:00p.m. 15 July 2024 |
Transfer out |
Any valid transfer-out request must reach CLT via the designated new trustee: ● Existing Employer - 4:00p.m. 11 July 2024 ● Member - 4:00p.m. 9 July 2024 |
Fund rebalancing or change of investment mandate | 4:00p.m. 17 July 2024 |
Employer/Member Information Change | 4:00p.m. 15 July 2024 |
Note* In relation to transfer-in, the transfer-in instructions will be processed and sent to the transfer-out trustee before the Onboarding Date.
If any instructions cannot be effected before the Onboarding Date (except for the instructions related to fund rebalancing or fund rebalancing with change of investment mandate), the instructions will be carried out as soon as practicable after the Onboarding Date by the eMPF Platform Company Limited (“the eMPF Company”). For the instructions related to fund rebalancing or fund rebalancing with change of investment mandate given after the above cut off dates and time, you should resubmit your instructions to the eMPF Company on or after the Onboarding Date. Please note that Instructions cannot be given via China Life MPF Online Platform (website or Mobile apps) after the above cut-off dates and time to the CLT. The China Life MPF Online Platform (website and Moblie apps) will stop service from 29 July 2024, please use the eMPF platform for enquiry and submission of instructions.
In order to facilitate the data migration to eMPF Platform, the direct debit date for July 2024 monthly contribution for Self-Employed Person (“SEP”), Smart Easy Personal Contributions (“SVC”) and Tax Deductible Voluntary Contribution (“TVC”) Accounts will be changed as follows:
Account Type | Original Direct Debit Date | New Direct Debit Date |
SEP | 24 July 2024 (Wednesday) | 4 July 2024 (Thursday) |
SVC & TVC | 29 July 2024 (Monday) | 4 July 2024 (Thursday) |
The change will resume to normal after the migration, i.e. the 24th of each calendar month for SEP and the 27th of each calendar month for SVC and TVC Accounts.
In order to know more about the eMPF Platform and to get prepared for the onboarding, Employers and Members of China Life Scheme are cordially invited to the eMPF introductory seminars. As regards enquiries and information other than in relation to scheme administration services, such as fund-specific and trustee-specific enquiries and information, Employers and Members can contact CLT at our Hotline 3999 5555. With effect from the Onboarding Date, Employers and Members of China Life Scheme, who wish to obtain more information relating to eMPF, such as make enquiries relating to MPF scheme administration, seek assistance in using the eMPF Web Portal or eMPF Mobile App, etc., can call eMPF Customer Service Hotline at 183 2622 or visit eMPF Service Centres. For details, please refer to the “Notice to Participating Employers and Members” issued on 22 May 2024.
Reminder
With effect from 29 July 2024, the scheme administration services of China Life MPF Master Trust Scheme (“China Life Scheme”) will be performed by eMPF Platform. Employer and scheme members please submit MPF administration instructions and access your MPF account information and balance via the eMPF Web Portal or eMPF Mobile App from 29 July 2024 onwards.
Alternatively, instructions may also be submitted by paper-based means to the eMPF Platform by post, fax, email or in person. Please use the correct version of eMPF paper instruction forms if you would like to submit paper form. You can obtain the paper form from eMPF Service Centres or download from eMPF.org.hk/forms/en:
Postal Address: PO Box 98929 Tsim Sha Tsui Post Office
Fax number*: 3197 2988
Email Address*: forms@support.empf.org.hk
In person to either of the following eMPF Service Centres:
Hong Kong Island: Unit 601B, 6/F, Dah Sing Financial Centre, No.248 Queen’s Road East, Wanchai, Hong Kong
Kowloon: Suites 1205-6, 12/F, Chinachem Golden Plaza, No. 77 Mody Road, Tsim Sha Tsui East, Kowloon
New Territories: Suite 1802A, 18/F, Tower 2, Nina Tower, No. 8 Yeung Uk Road, Tsuen Wan, New Territories
- Monday to Friday 9:00 am to 6:00 pm
- Saturday 9:00 am to 1:00 pm
- Closed on Sunday and Public Holidays
* Not applicable to application that approved trustee requires certified true copy of supporting document.
Please be reminded that the MPF administration instructions received by China Life Trustees Limited through our original channels after 29 July 2024 will lead to rejection of the instructions.