BCT Group Sees an Uptrend in MPF Account Consolidation among Members
BCT Group ("BCT") held a media briefing today, stating over the past five years, the number of accounts consolidated into BCT from other MPF schemes increased by 30%, with the average amount of MPF benefits in each consolidated account rising by 40% as well. Among all the consolidation cases, nearly 20% of members consolidated 3 or more accounts, while some consolidated 8 to 10 accounts. BCT believes this rise in the number of account consolidations reflects employees' growing awareness of the need to manage their MPF savings. However, there remains a large number of accounts being neglected by members that may hinder the effectiveness of planning for their retirement.
Ms. Ka Shi Lau, Managing Director & CEO, stated, "If you neglect your MPF, the number of accounts will keep accumulating, and you may end up receiving multiple annual benefit statements and notices for multiple accounts. This may ultimately become an obstacle in managing your retirement savings. A year's plan starts in the spring. As members receive notices from various trustees regarding the Default Investment Strategy ("DIS"), they should take this opportunity to review the MPF accounts they have, and consider consolidating them when necessary to get a full picture of their MPF, in order to manage their finances more effectively."
Meanwhile, Investment Director Mr. Michael Ha presented his views on the global investment outlook for the first half of 2017. In terms of MPF investments, members are advised to adopt a flexible investment strategy in 2017. They may consider adjusting those portfolios to which new contributions are being made while adopting a diversified investment strategy for their existing balance in order to mitigate short-term investment risks. BCT remains positive about the long-term performance of the stock market.
BCT Received “Provider of the Year Award – MPF” at 2016 Benchmark Fund of the Year Awards
As a key MPF company serving over 1 million member accounts in Hong Kong, BCT received "Provider of the Year Award – MPF" and won 8 other accolades at the 2016 Benchmark Fund of the Year Awards:
Capability Awards
Best-in-class, Human Capital Development
Best-in-class, Intermediary Support Team
Best-in-class, Investor Education and Communication
Best-in-class, Technology Deployment
Outstanding Achiever, Employer Servicing
Fund Awards
Best-in-class, Absolute Return
Outstanding Achiever, Asia Ex Japan Equity
Outstanding Achiever, Target Date
These awards not only recognize BCT's well-rounded strengths, but also our commitment to Bringing Value, through our funds, technology platform and people, strengthening Connectivity through investor education, member servicing & communication, and reinforcing our position as a Trusted partner of intermediaries and employers.
Like most of us, you may scroll through your Facebook on the way to and from work. Have you noticed BCT's messages and our "Piggy Army" on your newsfeed?
In view of the prevalent use of online and mobile platforms, BCT have been enriching our e-platforms to strengthen connectivity with the public and our customers. Recently, BCT won the "Best Social Media (MPF) Award"（最佳社交媒體（強積金）大獎）at the "e Media Plus Outstanding Digital Awards 2016"（e Media Plus傑出數碼大獎2016）for the effective use of our Facebook platform, based on criteria including innovation, design, and user experience.
Be sure to like our Facebook page for fun tidbits and interactive polls!
BCT Wins 2 Awards at “Bloomberg Businessweek Top Fund Awards 2016”
BCT is honoured to announce its fund under BCT (MPF) Pro Choice won 2 awards at "Bloomberg Businessweek Top Fund Awards 2016" for its outstanding performance:
The awards recognize best-performing funds using Bloomberg Data up to 30 September 2016, based on 5-year and 10-year total return figures.
BCT Makes Managing Your MPF a Breeze - Unveiling of the “Piggy Army”
BCT Group debuts a brand new commercial today. Three common MPF challenges are highlighted from the perspective of MPF members, which are solved with the help of the "Piggy Army" and BCT's service professional.
According to the MPFA's June 2016 issue of the "Mandatory Provident Fund Schemes Statistical Digest", there are over 3.8 million employed persons in Hong Kong and over 9 million MPF contribution and personal accounts. According to BCT's survey, nearly 50% of members have never managed their MPF accounts. The common reasons include they think it is too tedious, they are not investment-savvy, or they do not have time. These members tend to look for companies that are professional and can offer comprehensive services to handle their MPF matters.
Therefore, the brand new commercial aims to portray that BCT, an MPF expert, is here to help members easily consolidate MPF accounts, analyze fund performance, and manage MPF accounts well. Stay tuned for the brand new commercial on various TV channels, newspapers, MTR stations and online media, and visit www.bcthk.com/mpf to learn more about BCT's service platform.
Less than 7,100 / month or less than 85,200 / year
5%
Nil
7,100 - 30,000 / month or 85,200 - 360,000 / year
5%
5%
More than 30,000 / month or more than 360,000 / year
1,500 / month
1,500 / month
Remittance Statement
When making contribution payments, you need to submit a remittance statement that states the contribution details of all your employees enrolled in the MPF scheme. Please download the remittance statement templates through the following links:
We understand that the monthly contribution process can be time consuming. To make the process easier, BCT provides several options, including free softwares & Autobill to employers. Should you need any assistance, please feel free to contact our representative through our Employer Hotline at 2298 9388.
C-Online
C-Online is a safe, online contribution system designed for employers. It allows you to submit remittance statements instantly and generate pay records. Advantages of using the C-Online include round-the-clock service, payment security and data privacy.
The BCT MPF calculator is used within Microsoft Excel to help you prepare remittance statements and pay records, and keep track of contribution payment history. Click here for a demonstration.
This service is Only applicable for employers under the following payroll conditions:
Monthly payroll cycle
Payroll period end date at end of the month
After the setup of the Autobill service, we will send the remittance statement to the employer around 25th day of each month based on the updated relevant income of employees who have been enrolled to the MPF Scheme.
Flexi2 is a standalone application on Windows platform that can provided human resources management functions in addition to MPF contributions calculation.
Comprehensive management system
Support MPF scheme and ORSO plan
With MPF / ORSO contribution calculation, payroll management and leave management functions
Taxation and reporting module
MPF Contribution Authorized Channels
Employer and self-employed persons must make MPF contributions through the following channels. The “Designated Banks” mentioned below refer to Chong Hing Bank, CMB Wing Lung Bank, Dah Sing Bank, Fubon Bank, ICBC (Asia), OCBC Bank, Public Bank and Shanghai Commercial Bank
Contribution Payment Methods
Cut-off Time
1
Direct Debit Authorisation (DDA)
The contributions will be debited directly from the employer’s “Designated Banks” account upon verification of the remittance statement by Bank Consortium Trust Company Limited.
Self-employed persons may also make contributions through DDA and the contributions will be debited directly from their personal bank accounts. When the DDA service becomes effective, the contributions will be debited directly from the “Designated Banks” accounts on the contribution day. The service is applicable to monthly or yearly contributions. The default debit date is the last day of each contribution period.
Please make contributions through other channels or methods before the DDA is set up.
Please consult your bank for the applicable charges.
You may make contributions through internet banking services. Please select “Insurance or Pension Services” from the merchant list and select “BCT (MPF) Pro Choice” or “BCT (MPF) Industry Choice”.
Please consult your bank for the scope of services.
On or before the contribution day. Please consult your bank for the cutoff time.
3
PPS
You may make contributions through PPS: Please call 18011, or visit www.ppshk.com
BCT Merchant Code:
BCT (MPF) Pro Choice: 6289
BCT (MPF) Industry Choice: 6291
On or before the contribution day. Please note the cut-off time of PPS and the processing time (it may take one to two days, excluding Saturdays, Sundays and public holidays).
4
Direct Deposit
You may make contributions by cash, cheque or bank transfer at the branch teller counters of “Designated Banks” during the office hours.
Please make a crossed cheque payable to (post-dated cheque will not be accepted):
i) BCT (MPF) Pro Choice: Bank Consortium Trust Company Limited — Client A/C — Master Clearing
ii) BCT (MPF) Industry Choice: Bank Consortium Trust Company Limited — Client A/C — Industry Clearing
Besides, self-employed persons should provide their participating plan numbers at the teller counter of “Designated Banks” branches, while employers should provide the remittance statements at the same time; if a remittance statement is not available, their participating plan numbers.
On or before the contribution day. Please consult “Designated Banks” for the cut-off time.
ii) Self-employed persons please drop the cheques with participation plan number written into the cheque drop-in box at any branch of “Designated Banks”◆
Please make a crossed cheque payable to (post-dated cheque will not be accepted):
i) BCT (MPF) Pro Choice: Bank Consortium Trust Company Limited - Client A/C - Master Clearing
ii) BCT (MPF) Industry Choice: Bank Consortium Trust Company Limited - Client A/C - Industry Clearing
◆ Applicable to Chong Hing Bank, CMB Wing Lung Bank, Fubon Bank, ICBC (Asia), Public Bank and Shanghai Commercial Bank only.
On or before the contribution day. Please consult “Designated Banks”◆ for the cut-off time.
6
Direct Deposit through Internet Banking of “Designated Banks”*
You may transfer the contributions to the account of BCT (MPF) Pro Choice or BCT (MPF) Industry Choice through internet banking service of “Designated Banks”*.
Please consult “Designated Banks”* for the scope of services
* Applicable to NET Banking of CMB Wing Lung Bank, DS-Direct Services and 328 Business e-Banking of Dah Sing Bank and Internet Banking of Shanghai Commercial Bank only.
On or before the contribution day. Please consult “Designated Banks” for the cut-off time.
7
By Post (Making Crossed Cheque Payable to Bank Consortium Trust Company Limited)
You may send the remittance statements and / or crossed cheques (post-dated cheque will be not accepted) by post to Bank Consortium Trust Company Limited, 18/F Cosco Tower, 183 Queen’s Road Central, Hong Kong.
Please make a crossed cheque payable to:
i) BCT (MPF) Pro Choice: Bank Consortium Trust Company Limited — Client A/C — Master Clearing
ii) BCT (MPF) Industry Choice: Bank Consortium Trust Company Limited — Client A/C — Industry Clearing
Please make sure that there is sufficient time for postage (particularly during seasonal pressure periods) and that the contributions and remittance statements can be received by Bank Consortium Trust Company Limited on or before the contribution day.
The delivery time may vary between the post offices located in different regions.
8
E-Cheque
1. Please send the e-cheque and the remittance statements / contribution files, if applicable, to the designated email account: echeque@bcthk.com or upload by logging into BCT Employer Website www.bcthk.com.
2. Employers and self-employed persons should provide their participating plan numbers at the field of “remarks” in the e-cheque.
3. Please make a crossed cheque payable to (post-dated cheque will not be accepted):
i) BCT (MPF) Pro Choice: Bank Consortium Trust Company Limited — Client A/C — Master Clearing
ii) BCT (MPF) Industry Choice: Bank Consortium Trust Company Limited — Client A/C — Industry Clearing
On or before the contribution day. (Daily cut-off time: 23:59 (as per BCT system record))
9
In Person
You may deliver the remittance statements and / or crossed cheques in person to Bank Consortium Trust Company Limited, 18/F Cosco Tower, 183 Queen’s Road Central, Hong Kong during the office hours.
Please make a crossed cheque payable to (post-dated cheque will not be accepted):
i) BCT (MPF) Pro Choice: Bank Consortium Trust Company Limited — Client A/C — Master Clearing
ii) BCT (MPF) Industry Choice: Bank Consortium Trust Company Limited — Client A/C — Industry Clearing
Office hours: Monday to Friday 9:00am to 6:00pm (Except public holiday)
Employers must submit the remittance statement of BCT (MPF) Pro Choice and BCT (MPF) Industry Choice through the following channels or methods:
Please consult individual designated bank and your bank for the scope of services.
Submission of remittance statement
1
C-Online△
C-Online is an online contribution system specially designed for employers who use calendar month as payroll cycle (cycle starts from the first day of the month and ends on the last day of the month), and can generate and submit remittance statements instantly through BCT Employer Website.
△ Not applicable to casual employees
2
Flexi2△
Flexi2 is a tailor-made software for employers to manage the employee records, prepare the remittance statements, administer payroll, and prepare pay records and employee tax returns. Employers may also submit contribution data files (FPE File) through BCT Employer Website, and via “Designated Banks”. Please refer to the sections of BCT Employer Website, Internet Banking of “Designated Banks” or consult “Designated Banks” for scope of services in receiving Flexi2 contribution data files.
Employer may submit the remittance statements via BCT employer website (files can be in various electronic formats). Please follow the steps below to upload the related file:
Step 1: Go to our website, login to our employer website from “Your Online Account”
Step 2: Upload the related file at “Contribution Data Submission”.
4
By Post to Bank Consortium Trust Company Limited
Bank Consortium Trust Company Limited, 18/F Cosco Tower, 183 Queen’s Road Central, Hong Kong.
5
Branch Teller Counters of “Designated Banks”
Employers may submit the remittance statements together with the contributions in cash, cheque or by bank account transfer, at the branch teller counters of the “Designated Banks”
Please consult “Designated Banks” on the cut-off time.
6
Cheque Drop-in Boxes of “Designated Banks”#
Employers may drop remittance statements with cheque attached in the cheque drop-in boxes# at the branches of “Designated Banks”#. Please do not drop remittance statements without cheque attached and other documents into cheque drop-in box.
# Applicable to Chong Hing Bank, CMB Wing Lung Bank, Fubon Bank, ICBC (Asia), Public Bank and Shanghai Commercial Bank only.
Please consult “Designated Banks”# for the cut-off time.
7
Internet Banking Service of “Designated Banks”▲
Employers may upload the Flexi2 contribution data files through the internet banking services▲ of the “Designated Banks”▲
▲ Applicable to NET Banking of CMB Wing Lung Bank, DS-Direct Services and 328 Business e-Banking of Dah Sing Bank and Internet Banking of Shanghai Commercial Bank only. Please consult the above banks on cut-off time and scope of services.
8
In Person
Employers may submit the remittance statements in person to Bank Consortium Trust Company Limited, 18/F Cosco Tower, 183 Queen’s Road Central, Hong Kong during the office hours.
Office hours: Monday to Friday 9:00am to 6:00pm (Except public holiday)
Note:
For employers who subscribed the Autobill service, please note that the document you receive monthly from BCT is the remittance statement.
Contribution Receipt
A contribution receipt together with payment details of individual employees will be sent to you for your record.
Pay Record
Under the MPF legislation, you are required to provide pay records to your employees.
Regular Employee - within seven working days after making contribution payment to us.
*Servicing banks include, Chong Hing Bank, CMB Wing Lung Bank, Dah Sing Bank, Fubon Bank, ICBC (Asia), OCBC Bank, Public Bank (Hong Kong) and Shanghai Commercial Bank
The first contributions for new employees are to be made on or before the 10th day of the calendar month following the end of the 60th day of employment.
Your contributions are calculated from the 1st day of the employees’ employment.
Your employees are entitled to a “30-day contribution holiday” and their contributions are calculated from the 31st day of employment. However, the first incomplete payroll cycle (for monthly payroll cycles or payroll cycles more frequent than monthly) or calendar month (for payroll cycles less frequent than monthly) immediately following the 30-day contribution holiday is also waived.
The MPF First Contribution Calculator helps you calculate on first contribution.
Amount of mandatory contributions (per working day)
Daily Income (HK$)
Employer's contributions (HK$)
Employee's contributions (HK$)
Less than 280
10
Not required
280 to less than 350
15
15
350 to less than 450
20
20
450 to less than 550
25
25
550 to less than 650
30
30
650 to less than 750
35
35
750 to less than 850
40
40
850 to less than 950
45
45
950 or more
50
50
Remittance Statement
When making contribution payments, you need to submit a remittance statement that states the contribution details of all your employees enrolled in the MPF scheme. Please click here to download the remittance statement template.
We understand that the monthly contribution process can be time consuming. To make the process easier, BCT provides several options to facilitate you to manage your remittance statement. Should you need any assistance, please feel free to contact our representative through our Employer Hotline at 2298 9388.
This calculator (to be used with Microsoft Excel) is designed to help you prepare remittance statements (applicable to contribution payments within 10 days after the contribution period). Click here to learn more.
Ready made pre-printed forms (applicable to contribution payments on or before the next working day (excluding Saturdays) following the payment of relevant income to employees).
MPF Contribution Authorized Channels
Employer and self-employed persons must make MPF contributions through the following channels. The “Designated Banks” mentioned below refer to Chong Hing Bank, CMB Wing Lung Bank, Dah Sing Bank, Fubon Bank, ICBC (Asia), OCBC Bank, Public Bank and Shanghai Commercial Bank.
Contribution Payment Methods
Cut-off Time
1
Direct Debit Authorisation (DDA)
The contributions will be debited directly from the employer’s “Designated Banks” account upon verification of the remittance statement by Bank Consortium Trust Company Limited.
Self-employed persons may also make contributions through DDA and the contributions will be debited directly from their personal bank accounts. When the DDA service becomes effective, the contributions will be debited directly from the “Designated Banks” accounts on the contribution day. The service is applicable to monthly or yearly contributions. The default debit date is the last day of each contribution period.
Please make contributions through other channels or methods before the DDA is set up.
Please consult your bank for the applicable charges.
You may make contributions through internet banking services. Please select “Insurance or Pension Services” from the merchant list and select “BCT (MPF) Pro Choice” or “BCT (MPF) Industry Choice”.
Please consult your bank for the scope of services.
On or before the contribution day. Please consult your bank for the cutoff time.
3
PPS
You may make contributions through PPS: Please call 18011, or visit www.ppshk.com
BCT Merchant Code:
BCT (MPF) Pro Choice: 6289
BCT (MPF) Industry Choice: 6291
On or before the contribution day. Please note the cut-off time of PPS and the processing time (it may take one to two days, excluding Saturdays, Sundays and public holidays).
4
Direct Deposit
You may make contributions by cash, cheque or bank transfer at the branch teller counters of “Designated Banks” during the office hours.
Please make a crossed cheque payable to (post-dated cheque will not be accepted):
i) BCT (MPF) Pro Choice: Bank Consortium Trust Company Limited — Client A/C — Master Clearing
ii) BCT (MPF) Industry Choice: Bank Consortium Trust Company Limited — Client A/C — Industry Clearing
Besides, self-employed persons should provide their participating plan numbers at the teller counter of “Designated Banks” branches, while employers should provide the remittance statements at the same time; if a remittance statement is not available, their participating plan numbers.
On or before the contribution day. Please consult “Designated Banks” for the cut-off time.
ii) Self-employed persons please drop the cheques with participation plan number written into the cheque drop-in box at any branch of “Designated Banks”◆
Please make a crossed cheque payable to (post-dated cheque will not be accepted):
i) BCT (MPF) Pro Choice: Bank Consortium Trust Company Limited - Client A/C - Master Clearing
ii) BCT (MPF) Industry Choice: Bank Consortium Trust Company Limited - Client A/C - Industry Clearing
◆ Applicable to Chong Hing Bank, CMB Wing Lung Bank, Fubon Bank, ICBC (Asia), Public Bank and Shanghai Commercial Bank only.
On or before the contribution day. Please consult “Designated Banks”◆ for the cut-off time.
6
Direct Deposit through Internet Banking of “Designated Banks”*
You may transfer the contributions to the account of BCT (MPF) Pro Choice or BCT (MPF) Industry Choice through internet banking service of “Designated Banks”*.
Please consult “Designated Banks”* for the scope of services
* Applicable to NET Banking of CMB Wing Lung Bank, DS-Direct Services and 328 Business e-Banking of Dah Sing Bank and Internet Banking of Shanghai Commercial Bank only.
On or before the contribution day. Please consult “Designated Banks” for the cut-off time.
7
By Post (Making Crossed Cheque Payable to Bank Consortium Trust Company Limited)
You may send the remittance statements and / or crossed cheques (post-dated cheque will be not accepted) by post to Bank Consortium Trust Company Limited, 18/F Cosco Tower, 183 Queen’s Road Central, Hong Kong.
Please make a crossed cheque payable to:
i) BCT (MPF) Pro Choice: Bank Consortium Trust Company Limited — Client A/C — Master Clearing
ii) BCT (MPF) Industry Choice: Bank Consortium Trust Company Limited — Client A/C — Industry Clearing
Please make sure that there is sufficient time for postage (particularly during seasonal pressure periods) and that the contributions and remittance statements can be received by Bank Consortium Trust Company Limited on or before the contribution day.
The delivery time may vary between the post offices located in different regions.
8
E-Cheque
1. Please send the e-cheque and the remittance statements / contribution files, if applicable, to the designated email account: echeque@bcthk.com or upload by logging into BCT Employer Website www.bcthk.com.
2. Employers and self-employed persons should provide their participating plan numbers at the field of “remarks” in the e-cheque.
3. Please make a crossed cheque payable to (post-dated cheque will not be accepted):
i) BCT (MPF) Pro Choice: Bank Consortium Trust Company Limited — Client A/C — Master Clearing
ii) BCT (MPF) Industry Choice: Bank Consortium Trust Company Limited — Client A/C — Industry Clearing
On or before the contribution day. (Daily cut-off time: 23:59 (as per BCT system record))
9
In Person
You may deliver the remittance statements and / or crossed cheques in person to Bank Consortium Trust Company Limited, 18/F Cosco Tower, 183 Queen’s Road Central, Hong Kong during the office hours.
Please make a crossed cheque payable to (post-dated cheque will not be accepted):
i) BCT (MPF) Pro Choice: Bank Consortium Trust Company Limited — Client A/C — Master Clearing
ii) BCT (MPF) Industry Choice: Bank Consortium Trust Company Limited — Client A/C — Industry Clearing
Office hours: Monday to Friday 9:00am to 6:00pm (Except public holiday)
Employers must submit the remittance statement of BCT (MPF) Pro Choice and BCT (MPF) Industry Choice through the following channels or methods:
Please consult individual designated bank and your bank for the scope of services.
Submission of remittance statement
1
C-Online△
C-Online is an online contribution system specially designed for employers who use calendar month as payroll cycle (cycle starts from the first day of the month and ends on the last day of the month), and can generate and submit remittance statements instantly through BCT Employer Website.
△ Not applicable to casual employees
2
Flexi2△
Flexi2 is a tailor-made software for employers to manage the employee records, prepare the remittance statements, administer payroll, and prepare pay records and employee tax returns. Employers may also submit contribution data files (FPE File) through BCT Employer Website, and via “Designated Banks”. Please refer to the sections of BCT Employer Website, Internet Banking of “Designated Banks” or consult “Designated Banks” for scope of services in receiving Flexi2 contribution data files.
Employer may submit the remittance statements via BCT employer website (files can be in various electronic formats). Please follow the steps below to upload the related file:
Step 1: Go to our website, login to our employer website from “Your Online Account”
Step 2: Upload the related file at “Contribution Data Submission”.
4
By Post to Bank Consortium Trust Company Limited
Bank Consortium Trust Company Limited, 18/F Cosco Tower, 183 Queen’s Road Central, Hong Kong.
5
Branch Teller Counters of “Designated Banks”
Employers may submit the remittance statements together with the contributions in cash, cheque or by bank account transfer, at the branch teller counters of the “Designated Banks”
Please consult “Designated Banks” on the cut-off time.
6
Cheque Drop-in Boxes of “Designated Banks”#
Employers may drop remittance statements with cheque attached in the cheque drop-in boxes# at the branches of “Designated Banks”#. Please do not drop remittance statements without cheque attached and other documents into cheque drop-in box.
# Applicable to Chong Hing Bank, CMB Wing Lung Bank, Fubon Bank, ICBC (Asia), Public Bank and Shanghai Commercial Bank only.
Please consult “Designated Banks”# for the cut-off time.
7
Internet Banking Service of “Designated Banks”▲
Employers may upload the Flexi2 contribution data files through the internet banking services▲ of the “Designated Banks”▲
▲ Applicable to NET Banking of CMB Wing Lung Bank, DS-Direct Services and 328 Business e-Banking of Dah Sing Bank and Internet Banking of Shanghai Commercial Bank only. Please consult the above banks on cut-off time and scope of services.
8
In Person
Employers may submit the remittance statements in person to Bank Consortium Trust Company Limited, 18/F Cosco Tower, 183 Queen’s Road Central, Hong Kong during the office hours.
Office hours: Monday to Friday 9:00am to 6:00pm (Except public holiday)
Note:
For employers who subscribed the Autobill service, please note that the document you receive monthly from BCT is the remittance statement.
Contribution Receipt
A contribution receipt together with payment details of individual employees will be sent to you for your record.
Pay Record
Casual Employee - within seven working days after making contribution payment to us if you choose to make contribution payment within 10 days after the contribution period**
**Pay record is not required if you choose to make contribution payments on or before the next working day (excluding Saturday) following the payment of relevant income to employees.
Employer and self-employed persons must make MPF contributions through the following channels. The “Designated Banks” mentioned below refer to Chong Hing Bank, CMB Wing Lung Bank, Dah Sing Bank, Fubon Bank, ICBC (Asia), OCBC Bank, Public Bank and Shanghai Commercial Bank
Contribution Payment Methods
Cut-off Time
1
Direct Debit Authorisation (DDA)
The contributions will be debited directly from the employer’s “Designated Banks” account upon verification of the remittance statement by Bank Consortium Trust Company Limited.
Self-employed persons may also make contributions through DDA and the contributions will be debited directly from their personal bank accounts. When the DDA service becomes effective, the contributions will be debited directly from the “Designated Banks” accounts on the contribution day. The service is applicable to monthly or yearly contributions. The default debit date is the last day of each contribution period.
Please make contributions through other channels or methods before the DDA is set up.
Please consult your bank for the applicable charges.
You may make contributions through internet banking services. Please select “Insurance or Pension Services” from the merchant list and select “BCT (MPF) Pro Choice” or “BCT (MPF) Industry Choice”.
Please consult your bank for the scope of services.
On or before the contribution day. Please consult your bank for the cutoff time.
3
PPS
You may make contributions through PPS: Please call 18011, or visit www.ppshk.com
BCT Merchant Code:
BCT (MPF) Pro Choice: 6289
BCT (MPF) Industry Choice: 6291
On or before the contribution day. Please note the cut-off time of PPS and the processing time (it may take one to two days, excluding Saturdays, Sundays and public holidays).
4
Direct Deposit
You may make contributions by cash, cheque or bank transfer at the branch teller counters of “Designated Banks” during the office hours.
Please make a crossed cheque payable to (post-dated cheque will not be accepted):
i) BCT (MPF) Pro Choice: Bank Consortium Trust Company Limited — Client A/C — Master Clearing
ii) BCT (MPF) Industry Choice: Bank Consortium Trust Company Limited — Client A/C — Industry Clearing
Besides, self-employed persons should provide their participating plan numbers at the teller counter of “Designated Banks” branches, while employers should provide the remittance statements at the same time; if a remittance statement is not available, their participating plan numbers.
On or before the contribution day. Please consult “Designated Banks” for the cut-off time.
ii) Self-employed persons please drop the cheques with participation plan number written into the cheque drop-in box at any branch of “Designated Banks”◆
Please make a crossed cheque payable to (post-dated cheque will not be accepted):
i) BCT (MPF) Pro Choice: Bank Consortium Trust Company Limited - Client A/C - Master Clearing
ii) BCT (MPF) Industry Choice: Bank Consortium Trust Company Limited - Client A/C - Industry Clearing
◆ Applicable to Chong Hing Bank, CMB Wing Lung Bank, Fubon Bank, ICBC (Asia), Public Bank and Shanghai Commercial Bank only.
On or before the contribution day. Please consult “Designated Banks”◆ for the cut-off time.
6
Direct Deposit through Internet Banking of “Designated Banks”*
You may transfer the contributions to the account of BCT (MPF) Pro Choice or BCT (MPF) Industry Choice through internet banking service of “Designated Banks”*.
Please consult “Designated Banks”* for the scope of services
* Applicable to NET Banking of CMB Wing Lung Bank, DS-Direct Services and 328 Business e-Banking of Dah Sing Bank and Internet Banking of Shanghai Commercial Bank only.
On or before the contribution day. Please consult “Designated Banks” for the cut-off time.
7
By Post (Making Crossed Cheque Payable to Bank Consortium Trust Company Limited)
You may send the remittance statements and / or crossed cheques (post-dated cheque will be not accepted) by post to Bank Consortium Trust Company Limited, 18/F Cosco Tower, 183 Queen’s Road Central, Hong Kong.
Please make a crossed cheque payable to:
i) BCT (MPF) Pro Choice: Bank Consortium Trust Company Limited — Client A/C — Master Clearing
ii) BCT (MPF) Industry Choice: Bank Consortium Trust Company Limited — Client A/C — Industry Clearing
Please make sure that there is sufficient time for postage (particularly during seasonal pressure periods) and that the contributions and remittance statements can be received by Bank Consortium Trust Company Limited on or before the contribution day.
The delivery time may vary between the post offices located in different regions.
8
E-Cheque
1. Please send the e-cheque and the remittance statements / contribution files, if applicable, to the designated email account: echeque@bcthk.com or upload by logging into BCT Employer Website www.bcthk.com.
2. Employers and self-employed persons should provide their participating plan numbers at the field of “remarks” in the e-cheque.
3. Please make a crossed cheque payable to (post-dated cheque will not be accepted):
i) BCT (MPF) Pro Choice: Bank Consortium Trust Company Limited — Client A/C — Master Clearing
ii) BCT (MPF) Industry Choice: Bank Consortium Trust Company Limited — Client A/C — Industry Clearing
On or before the contribution day. (Daily cut-off time: 23:59 (as per BCT system record))
9
In Person
You may deliver the remittance statements and / or crossed cheques in person to Bank Consortium Trust Company Limited, 18/F Cosco Tower, 183 Queen’s Road Central, Hong Kong during the office hours.
Please make a crossed cheque payable to (post-dated cheque will not be accepted):
i) BCT (MPF) Pro Choice: Bank Consortium Trust Company Limited — Client A/C — Master Clearing
ii) BCT (MPF) Industry Choice: Bank Consortium Trust Company Limited — Client A/C — Industry Clearing
Office hours: Monday to Friday 9:00am to 6:00pm (Except public holiday)
Employers may submit the remittance statement of BCT (MPF) Pro Choice and BCT (MPF) Industry Choice through the following channels or methods:
Please consult individual designated bank and your bank for the scope of services.
Submission of remittance statement
1
C-Online△
C-Online is an online contribution system specially designed for employers who use calendar month as payroll cycle (cycle starts from the first day of the month and ends on the last day of the month), and can generate and submit remittance statements instantly through BCT Employer Website.
△ Not applicable to casual employees
2
Flexi2△
Flexi2 is a tailor-made software for employers to manage the employee records, prepare the remittance statements, administer payroll, and prepare pay records and employee tax returns. Employers may also submit contribution data files (FPE File) through BCT Employer Website, and via “Designated Banks”. Please refer to the sections of BCT Employer Website, Internet Banking of “Designated Banks” or consult “Designated Banks” for scope of services in receiving Flexi2 contribution data files.
Employer may submit the remittance statements via BCT employer website (files can be in various electronic formats). Please follow the steps below to upload the related file:
Step 1: Go to our website, login to our employer website from “Your Online Account”
Step 2: Upload the related file at “Contribution Data Submission”.
4
By Post to Bank Consortium Trust Company Limited
Bank Consortium Trust Company Limited, 18/F Cosco Tower, 183 Queen’s Road Central, Hong Kong.
5
Branch Teller Counters of “Designated Banks”
Employers may submit the remittance statements together with the contributions in cash, cheque or by bank account transfer, at the branch teller counters of the “Designated Banks”
Please consult “Designated Banks” on the cut-off time.
6
Cheque Drop-in Boxes of “Designated Banks”#
Employers may drop remittance statements with cheque attached in the cheque drop-in boxes# at the branches of “Designated Banks”#. Please do not drop remittance statements without cheque attached and other documents into cheque drop-in box.
# Applicable to Chong Hing Bank, CMB Wing Lung Bank, Fubon Bank, ICBC (Asia), Public Bank and Shanghai Commercial Bank only.
Please consult “Designated Banks”# for the cut-off time.
7
Internet Banking Service of “Designated Banks”▲
Employers may upload the Flexi2 contribution data files through the internet banking services▲ of the “Designated Banks”▲
▲ Applicable to NET Banking of CMB Wing Lung Bank, DS-Direct Services and 328 Business e-Banking of Dah Sing Bank and Internet Banking of Shanghai Commercial Bank only. Please consult the above banks on cut-off time and scope of services.
8
In Person
Employers may submit the remittance statements in person to Bank Consortium Trust Company Limited, 18/F Cosco Tower, 183 Queen’s Road Central, Hong Kong during the office hours.
Office hours: Monday to Friday 9:00am to 6:00pm (Except public holiday)
Note:
For employers who subscribed the Autobill service, please note that the document you receive monthly from BCT is the remittance statement.
Contribution Receipt
A contribution receipt together with payment details of individual employees will be sent to you for your record.
