Research Institute
Author: Master of Number Research
2021-01-25 19:20
Last update date: 2021-01-25 19:20
First look at the monthly MPF return per capita▼▼▼
Although the new crown pneumonia epidemic has brought uncertainties to the global stock market, the performance of the MPF market does not seem to have a major impact. The latest data from the MPF consulting firm Junlong Group pointed out that the average MPF earning per capita in December 2020 alone exceeded 8,000. Yuan, the annual profit is about 27,000 yuan.
Recently, the Hang Seng Index has been trending strongly. Today (January 25) it broke the 30,000 mark and stabilized at the close. How much influence will it have on the performance of the MPF?
As for which fund performs best, you know one by one in the following chart ▼▼▼
The per capita accrued equity exceeds 240,000 yuan?
Workers have been providing MPF for decades. Can the MPF return really meet their retirement needs?
The Financial Services and the Treasury Bureau pointed out that as of November 30, 2020, about 4,459,000 people participated in the MPF scheme. The average accrued benefit amount was RMB 246,000. In terms of overall investment return, it was established from December 2000 to In November 2020, after deducting fees and expenses, the MPF returned 4.5% annually, higher than the 1.8% inflation rate over the same period.
Early withdrawal of MPF?
According to the MPFA, the accrued benefits can be withdrawn before the age of 65 if there are the following 5 situations, including:
1) Early retirement:
Must be at least 60 years old, have terminated all employment and self-employment, and make a statutory declaration that they do not intend to be re-employed or self-employed.
2) Leave Hong Kong permanently:
You must declare that you have or will leave Hong Kong to live in another place, and you do not intend to return to work or resettle in Hong Kong as a permanent resident, and provide proof that the trustee is satisfied that you have been allowed to live in a place outside Hong Kong.
3) Total incapacity:
If you are permanently unsuitable for performing a specific type of work that was the last job you had before completely incapacitating, you can withdraw your rights early.
A medical certificate issued by a registered doctor or registered Chinese medicine practitioner must be provided.
4) Suffering from terminal illness:
If you suffer from any disease that is likely to reduce your life expectancy to 12 months or less, you can withdraw your benefits early.
A medical certificate issued by a registered doctor or registered Chinese medicine practitioner must be provided.
5) Small balance:
You must have a balance of no more than $5,000 in one MPF scheme, and no balance in other MPF schemes, and the date of your application for withdrawal of MPF is at least 12 months away from the last contribution day.
You must also declare that you do not intend to be employed or self-employed in the future.
01Retirement Protection of the Mandatory Provident Fund, MPF Board, Financial Services and Treasury Bureau 01 VideoOTT01 Video OTT New Way of Life
