Actually you can choose ANY fund from ANY provider. You are not limited to using your own current provider.Original Post Deleted
Also, AFAIK you can take deductions of 60k for TVC plus 8k for health insurance.
Actually you can choose ANY fund from ANY provider. You are not limited to using your own current provider.Original Post Deleted
Also, AFAIK you can take deductions of 60k for TVC plus 8k for health insurance.
I opened mine at the HSBC branch on des voeux rd (the one toward Sheung Wan). There is a pension “specialist” there with a hilarious manner who actually seemed to know his shit (particularly regarding the rebates / joining perks). All set up and I now see it on my global view. Acceptable customer experience!
I read about TVC this past week. My ORSO is administered by BCT, so I checked their website and was able to apply online without any issues. I did not complete my registration since I researched more (after reading some other posts on here about fees on MPF accounts) and BCT seemed a little high on fees to go with them. Any other ones people recommend for lower fees, I am not looking into fancy investments, probably just hold some global equities fund or similar.
My ORSO is also by BCT and for the same reason (high fees) I shopped around and went with HSBC.
This site is good for comparing fees between suppliers:
https://mfp.mpfa.org.hk/eng/mpp_list.jsp
That's really good - thanks. Also worth noting that SCB hasn't joined the TVC party yet. My wife called them up and they said they'll aim to offer it by the end of the year
Probably discussed elsewhere, but seems like HSBC are merging Super Trust and Value Choice and, if my reading is correct, all the value choice options will be available in super trust. They seem to have the same high(er) performing funds like NA Equities and Hang Seng tracker at lower fees (aroun 0.79).
there seems to be some low cost funds in the list.. but many of them are like SHKXXX... is that employer dedicated funds ?
but that said, their sizes are like 100-200m hkd.. at those sizes, even if the management fee is low I wouldnt be surprised if there are other cost (trust fees, etc.etc) that get charged into the fund.. then your cost would be bumped up quite substantially.
still evaluating what i should do...
DIS fees will be around 0.70 - 0.75 regardless of provider. I stuck with Manulife so everything is under one roof.Original Post Deleted
My other MPF payments with my previous employer and my present employer.Original Post Deleted
Manulife's DIS is run by Vanguard, which invests in a global 60/40 portfolio. You have to do MPF, so I'm doing the lowest cost option. With TVC there is a tax benefit, its not compulsory but for expats you get the tax benefit and when you leave HK you can take all the money out.