* Source: “Mercer MPF Market Shares Report” as at 31 March 2021 by Mercer (Hong Kong) Limited, in terms of market share of total MPF assets by scheme sponsor.
^Please refer to the Opt-in/Opt-out Request Form and the definition of Relationship Balance in the booklet of “Service Charges – An easy guide to banking fees”.
**Source: Calculated based on MPF Fund Platform from MPFA website as of 31 August 2020, in terms of the number of constituent funds of each MPF scheme.
VThe maximum tax-deductible amount is HKD60,000 per assessment year under salaries tax and personal assessment. This is an aggregate limit for both TVC and other qualifying deferred annuity premiums in aggregate. The illustration of tax savings of HKD10,200 is calculated by multiplying HKD60,000 by 17% where HKD60,000 and 17% represent the maximum tax-deductible amount and the current highest progressive tax rate respectively. However, please note that this is for illustration only; in particular, not every taxpayer who uses up the maximum tax-deductible amount of HKD60,000 will enjoy HKD10,200 in tax savings as the actual amount of tax savings vary, depending on, for example, the taxpayer’s net taxable income, applicable tax rate, tax allowances and deductions entitled as well as the amount of TVC and other qualifying deferred annuity premiums, etc.
#Subject to the rules of the MPF scheme.
+Tax Deductible Voluntary Contribution (TVC) can only be paid or transferred into a TVC account, which is separate from a contribution account or a personal account. Transfer of TVC must be in a lump sum (full account balance), transfer in part will not be accepted. Meanwhile, transfer of accrued benefits from a TVC account to another TVC account cannot be claimed as deductions for taxation purpose.