MPF/ORSO
                                                               
                                                               

                                                              Self-employed Persons


                                                              Eligibility

                                                              Self-employed Persons (SEP)

                                                              An applicant should apply in an individual capacity as a self-employed person and must fulfil all of the following criteria:

                                                              1. Must have successfully created an MPF “Self-employed person” account (“MPF SEP account”) on or before 31 December 2021, and has not terminated the account at the time of application; and
                                                              2. If an eligible self-employed person has more than one "MPF SEP account", only one application can be submitted

                                                               


                                                              Means of Application and Information Required

                                                              (Please click here to read the list of information required for application for self-employed persons.)

                                                               

                                                              Subsidy for Self-employed Persons

                                                              Eligible SEPs will be granted a one-off subsidy of $8,000.

                                                               

                                                              When will applicants receive the subsidies?

                                                              Eligible SEPs who have provided accurate and complete information shall be able to receive the subsidies within the four-week period after submission of application.

                                                               

                                                              Frequently Asked Questions by Self-employed Persons of 2022 ESS
                                                              https://www.ess.gov.hk/en/faq.html#section_sep?

                                                               

                                                               

                                                              Employer (MPF Scheme)


                                                              Eligibility

                                                              Employer (MPF Scheme)

                                                              An applicant should apply in the capacity of a company/ corporation/ organisation/ natural person and must fulfil all of the following criteria:

                                                              1. Is not an employer listed in Part I of the Exclusion List(see list)
                                                              2. Must have participated in MPF Schemes on or before 31 December 2021;
                                                              3. Has not been involved in winding up, deregistration or striking off process or has not become dormant; and
                                                              4. Has fully settled all clawback/penalty of 2020 Employment Support Scheme (if any) on or before 10 May 2022.

                                                               

                                                              Wage Subsidy and Calculation Method

                                                              The government-appointed agent will base on the following four conditions and calculation methods to calculate the wage subsidy:

                                                              1. Reference month (for details, please click here)
                                                              2. Subsidised quota cap and maximum subsidy amount (for details, please click here)
                                                              3. Sector-specific cap (for details, please click here)
                                                              4. Chosen subsidised headcount (for details, please click here)

                                                               

                                                              Means of Application and Information Required
                                                              (Please click here to read the list of information required for application for employers)

                                                              To facilitate the application, eligible employers of the 2022 ESS should have the following items ready:

                                                              1. "BCT Employer Website" password
                                                              2. If the employers need to retrieve the password, please complete the PIN Re-generation Request Form (For Participating Employer) and fax it to 2992 0507 or send it to our office at 18/F, Cosco Tower, 183 Queen's Road Central, Hong Kong.
                                                              3. 2020 ESS Application Number and password (if applicable)
                                                              4. Please click here for retrieving relevant application number.

                                                               

                                                              Warm reminder from BCT: employer applicants need to pay attention to the following
                                                              1. Preparation before application:
                                                                - Company supporting documents (e.g. Business Registration Certificate), please refer to the list of information required for application for employers
                                                                - MPF Schemes Information (Applicable to applicants whose application for 2020 ESS had not been approved/not having applied for 2020 ESS)
                                                                1. Names of MPF trustees
                                                                2. Names of MPF schemes
                                                                3. MPF scheme registration/participation numbers
                                                                4. Documents clearly showing above three mentioned items
                                                                - Respective subsidy headcount and salary figures according to the number of employees in May, June and July 2022
                                                              2. As 2020 ESS did not include casual employees of industry schemes (including those whose wages are paid on a daily basis), employer applicants of industry schemes can use the MPF scheme records in 2021 Q4 as reference month.
                                                              3. Subsidy to be received each month will be calculated based on the respective chosen subsidised headcount in May, June and July 2022, not the respective subsidised quota in the reference month. The chosen subsidised headcount should not exceed the subsidised quota cap in the reference month.
                                                              4. MPF contribution records for 2021 Q4 must be completed on or before 28 February 2022. Contributions for 2021 Q4 that were made on or after 1 March 2022 will not be taken into account in the calculation.
                                                              5. For an employer who had submitted a 2020 ESS application, if his/her company has undergone restructuring, spin-off or other changes during the period between the 2020 ESS and 2022 ESS which have affected the quantity, number and name of the MPF schemes/Certificate of Incorporation/Business Registration Certificate, he/she should approach the government-appointed agent early by sending an email to This email address is being protected from spambots. You need JavaScript enabled to view it. via the registered email address under the 2020 ESS to explain the employer’s situation. The employer should set out the name, the employer’s MPF Registration/Participation Number before and after re-structuring or spin-off of the organisation in the email with the relevant supporting documents. The government-appointed agent will advise the employer what to do after reviewing relevant information.
                                                              6. If an employer whose application had been approved in the 2020 ESS has switched to another MPF trustee, changed MPF scheme, or increased/decreased the number of accounts in the past year, relevant employers should declare ALL MPF schemes that are in force. They can submit relevant information when completing the online application form.
                                                               
                                                               

                                                              Subsidy Disbursement Arrangements

                                                              The government-appointed agent will notify applicants of their application results via SMS and email. If approved, the subsidy will be credited to the applicant's bank account listed in the application form.

                                                              The employers' wage subsidies will be paid in four tranches:

                                                              1st tranche 100% of subsidies of May 2022
                                                              2nd tranche 100% of subsidies of June 2022
                                                              3rd tranche 70% of subsidies of July 2022
                                                              4th tranche 30% of subsidies of July 2022 after deducting subsidies to be returned to the Government and penalties to be paid (if any)

                                                               

                                                               

                                                              Warm reminder from BCT: employers need to pay attention to the following in order to obtain the subsidy amount
                                                              1. If applicants hire new employees during the subsidy period, they are required to open MPF employee accounts for the relevant employees in that month, provide wage for May, June and July 2022 information to MPF trustees and make contributions on or before the MPF contribution day as announced by the MPF Schemes Authority to prove that wages have been paid to the relevant employees for the month.
                                                              2. If applicants have hired employees aged 65 or above or casual employees (including those whose wages are paid on a daily basis), they are also required to report on or before the MPF contribution day the monthly wage of employees aged 65 or above and casual employees, and to make MPF contributions for the casual employees.
                                                              3. If the applicant's MPF contribution period is not a complete calendar month, or if the employer is making contributions more/ less than once every month, please click here for the Illustrative Example on Calculating Monthly Wage.

                                                               

                                                              Employers' Undertaking and Penalty

                                                              Applicants shall undertake to employ sufficient number of employees in fulfilling the criteria in each subsidy month, and reflect the respective employment situation in the records of the MPF Schemes. (for details, please click here)

                                                              If applicants could not fully fulfil the above undertaking in any month within the subsidy period, apart from returning the relevant subsidy amount, they are also required to pay a penalty equivalent to 10% of the subsidy amount to be returned.

                                                               

                                                              Warm reminder from BCT: employers need to be aware of the following to avoid penalty
                                                              There are different definitions of monthly wages for "Half subsidy" and "Elderly subsidy" by the government. Details are as follows:
                                                                At the time of application when the subsidy is distributed
                                                              "Half subsidy quota" "Elderly subsidy quota" "Half subsidy headcount" "Elderly subsidy headcount"
                                                              Definitions of monthly wages Employees with a monthly wage of at least $3,000 but less than $8,000 Employees aged 65 or above with a monthly wage less than $3,000 Employees with a monthly wage of $4,000 or above Employees aged 65 or above with a monthly wage of $4,000 or above

                                                               

                                                              Applicants should note that if they declare as "Half subsidy quota" and "Elderly subsidy quota" at the time of application, but the wages of employees in May, June and July 2022 are less than $4,000, they will be defined as could not fully fulfil the conditions of "Half subsidy headcount" and "Elderly subsidy headcount. Apart from returning the relevant subsidy amount, they are also required to pay a penalty equivalent to 10% of the subsidy amount to be returned.

                                                               

                                                              Frequently Asked Questions by Employers of 2022 ESS
                                                              https://www.ess.gov.hk/en/faq.html#section_er

                                                              Employer (ORSO Scheme)

                                                              For details, please enquire with the relevant account manager.

                                                              About 2022 Employment Support Scheme

                                                              Overview

                                                              The Hong Kong Special Administrative Region Government has launched the 2022 Employment Support Scheme ("the Scheme") under the Anti-epidemic Fund to provide wage subsidies to employees for three months (i.e. May, June and July 2022) to retain their current employees or even employ more staff when the business revives as soon as the epidemic situation permits. Eligible self-employed persons can also apply for a one-off subsidy.

                                                              The application period of the Scheme is from 29 April 2022 at 8:00 am to 12 May 2022 at 11:59 pm.

                                                               

                                                              Enquiry:
                                                              2022 Employment Support Scheme Website: www.ess.gov.hk
                                                              Telephone hotline (including booking for Service Centres): 1836-122
                                                              Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
                                                              Applicants who have submitted the application may click on the link and log into the system to check the application status.

                                                              Service Centres:
                                                              If applicants would like to seek help from dedicated staff, they may schedule an appointment through the hotline (1836-122) and visit the following service centres. Service hours during the application period (29 April to 12 May 2022): 9 a.m. to 6 p.m.

                                                              • Room 1501, AT Tower, 180 Electric Road, North Point
                                                              • Suite 1004, Kwun Tong View, 410 Kwun Tong Road, Kwun Tong
                                                              • Suite 601-2, 9 Wing Hong Street, Cheung Sha Wan
                                                              • Suite 2310, Metropole Square, 2 On Yiu Street, Shek Mun, Shatin
                                                              • Units 3301-3303, 33/F The Octagon, 6 Sha Tsui Rd, Tsuen Wan

                                                              How to select your provider 5 major factors to consider

                                                              Trusted Partner
                                                              Fund Choice
                                                              Fund Performance
                                                              Fee
                                                              Service for Employers and Members
                                                              1
                                                              How trustworthy is your MPF/ORSO provider?
                                                              Trusted Partner

                                                              Trusted Partner

                                                              A trusting partnership with the right MPF/ORSO provider is important for every employer. The right partner can provide you with quality products, trusted care, and professional services. With a good business partner, you can rely on their expertise while you focus on managing your business.

                                                              How can BCT help? Replay
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                                                              BCT is your
                                                              Trusted Partner

                                                              Solid Backing
                                                              Sound Background

                                                              With sound background from 8 established financial institutions, BCT focuses on offering MPF and ORSO services to help employers plan their employee benefits.

                                                              Experienced Pension Experts
                                                              Pension Specialists

                                                              Over 360 pension professionals focused on the provision and servicing of pension and investment funds.

                                                              Replay
                                                              2
                                                              You should consider whether your provider has sufficient constituent fund choices to cater to your employees' needs.
                                                              How many constituent funds does your existing MPF provider offer to your employees?
                                                              Fund Choice

                                                              Fund Choice

                                                              Diversified constituent fund choices are important because different life stages, risk tolerance levels and financial situations require different types of portfolios in order to achieve the retirement goals of your employees.

                                                              How can BCT help? Replay
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                                                              Our MPF schemes have a wide range of constituent funds^

                                                              A Wide Range of Funds

                                                              Our MPF schemes offer constituent funds managed by different investment managers that are not affiliated with the BCT Group. This enables us to independently appoint investment managers with diverse investment styles and philosophies to be used in our schemes. For further details, please refer to the latest principal brochure. As of today, 8 fund managers have been engaged to help managing your MPF. Overall speaking, the use of multiple fund managers allows us to focus on, among others, the service quality of the fund managers through our selection and monitoring process and provides us with the flexibility to replace fund managers independently.

                                                              ^ BCT offers 2 MPF schemes, namely, BCT MPF (Pro) Choice and BCT (MPF) Industry Choice which offer a wide range of constituent funds.

                                                              BCT (MPF) Pro Choice
                                                              BCT (MPF) Pro Choice

                                                              BCT (MPF) Pro Choice has 5 constituent fund categories which provides 23 constituent funds covering a wide spectrum of risk.

                                                              • Equity Funds
                                                              • Equity Funds - Market Tracking Series
                                                              • Target Date Mixed Asset Funds
                                                              • Mixed Asset Funds
                                                              • Bond / Money Market Funds

                                                              Target Date Mixed Asset Funds - We are one of the first MPF providers to launch the SaveEasy Fund Series. The SaveEasy Funds are designed to shift their underlying investments from equities towards a greater exposure to bonds and cash as the relevant SaveEasy Fund gets closer to its particular target year. Please refer to Principal Brochure for more details.

                                                              In addition, our Equity Funds - Market Tracking Series consists of three constituent funds. Each constituent fund invests in one or more "Index Tracking Collective Investment Scheme (ITCIS)". All three constituent funds under this series are classified as "Low Fee Fund" (Fund Expense Ratio ≤1.3% or Management Fee ≤1%) as defined by the MPFA.

                                                              BCT (MPF) Industry Choice
                                                              BCT (MPF) Industry Choice

                                                              BCT (MPF) Industry Choice has 3 constituent fund categories which provides 12 constituent funds covering a wide spectrum of risk.

                                                              • Equity Funds
                                                              • Mixed Asset Funds
                                                              • Bond / Money Market Funds

                                                              BCT (MPF) Industry Choice is created specifically for those working in the catering and construction industries.

                                                              Replay
                                                              3
                                                              Are you satisfied with your existing MPF fund performance?
                                                              Fund Performance

                                                              Fund Performance

                                                              A stable and consistent investment return can help members accumulate and grow their MPF asset for a quality retirement life.

                                                              How can BCT help? Replay
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                                                              Professionally Managed Constituent Funds

                                                              BCT has Funds are well-managed

                                                              BCT engages different fund managers and selects the most appropriate fund manager(s) for each asset class based on their expertise and a set of criteria.

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                                                              4
                                                              Are you satisfied with the existing fees and charges of your MPF scheme(s)?
                                                              Do they provide value-for-money?
                                                              Competitive Fee

                                                              Fee

                                                              Fees directly affect investment returns. It is an important factor to consider when making fund choices.

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                                                              Fees under BCT's MPF Scheme

                                                              Reasonable Fees
                                                              Fees

                                                              BCT reviews the operating efficiency of its constituent funds on an ongoing basis and sets our fees at an appropriate level with an aim to deliver value for our members.


                                                              BCT (MPF) Pro Choice

                                                              Management fees of constituent funds range from 0.75% - 1.50% per annum of net asset value.

                                                              More Info BCT (MPF) Industry Choice

                                                              Management fees of constituent funds range from 0.75% - 1.6% per annum of net asset value.

                                                              More Info
                                                              Special Management Fees
                                                              Effective Management Fees*

                                                              General Personal Accounts
                                                              For Personal Accounts except members who have retired, we offer special management fees ranging from 0.75% - 1.38% per annum of net asset value of constituent funds under the Personal Account.

                                                              More Info

                                                              Special Voluntary Contributions Account and Tax Deductible Voluntary Contributions Account
                                                              Management fees of the constituent funds range from 0.75%-0.99% per annum of net asset value of constituent funds.


                                                              More Info

                                                              Retirees’ Personal Accounts
                                                              For Personal Account members who have retired: 0.59% - 0.99% per annum of net asset value depending on constituent fund chosen under the Personal Account.

                                                              Learn more about MPF fees and charges:

                                                              MPFA website: http://cplatform.mpfa.org.hk/MPFA/english/index.jsp

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                                                              5
                                                              Are you satisfied with the service of your current MPF/ORSO provider?
                                                              Service for Employers and Members

                                                              Service for Employers and Members

                                                              It is important for an MPF / ORSO provider to offer a complete solution to employers so that you can focus on your business without worrying about pension administration.

                                                              How can BCT help? Replay
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                                                              BCT's
                                                              Service for Employers and Members

                                                              Supporting Tools
                                                              Supporting Tools

                                                              Make use of the free software (C-Online, Flexi2 software, BCT MPF calculators and Auto-Bill) we offer to employers to help you manage MPF administration with greater ease.

                                                              Tools & Demos
                                                              Various Payment Methods
                                                              Various Payment Methods

                                                              Settle MPF/ ORSO payments via PPS, direct debit, direct transfer, cash or cheque. You can also visit a branch of BCT's Servicing Banks* to settle the payment.

                                                              Secured Website
                                                              Secured Website

                                                              View your employees information and contribution online.

                                                              Communication and Publications
                                                              Communication and Publications

                                                              Employer hotline and newsletter

                                                              *Public Bank (Hong Kong), Chong Hing Bank, Dah Sing Bank, Fubon Bank, ICBC (Asia), OCBC Wing Hang, Shanghai Commercial Bank and Wing Lung Bank

                                                              We Care We Serve

                                                              BCT's MPF administration and member services are well-recognised within the industry. See our Awards here. We care about your employees and provide a variety of services to help them manage their MPF accounts:

                                                              Online Platform
                                                              One-stop Contact Centre Service
                                                              Investor Education
                                                              Value Added Services
                                                              Communication, Publications
                                                              Online Platform
                                                              • Our Online Platform includes website, mobile applications, MPF eChannel, Social Media (Facebook and Youtube).
                                                              • Manage your MPF account for fund switching, change of investment mandate, MPF account balance of showing the gain and loss, and keep up-to-date with the latest news online.
                                                              One-stop Contact Centre Service
                                                              • A 24-hour interactive voice response system (IVRS) is available for you to manage your MPF.
                                                              • Our professional team can help you handle any enquiries about your MPF account.
                                                              • BCT's Contact Centre received numerous service awards for our outstanding customer service. Learn more
                                                              • Counter service is also available at BCT office. You can visit us during 9:00am - 6:00pm (Monday to Friday) at 18/F Cosco Tower, 183 Queen's Road Central, Hong Kong.
                                                              Investor Education
                                                              Value Added Services
                                                              Investment Planning Service (IPS)

                                                              Our Investment Planning Service helps members gain a better understanding of their investment goals and risk levels in order to make informed investment decisions. This service does not only cover MPF investments but also other fund ranges such as Collective Investment Scheme (CIS). Through one-on-one consultations, members can find the most suitable funds based on their investment goals.

                                                              Learn more
                                                              Retirement Planning Service (RPS)

                                                              Our Retirement Planning Service is aimed at assisting members to plan for retirement. Our experts will help members to get prepared for their retirement in financial, social as well as psychological aspects. Through this service, members will enjoy special management fee rates while being able to withdraw funds in phases.

                                                              Learn more
                                                              Communication and Publications
                                                              • Monthly MPF Account Balance via SMS and SMS notification of receipt of asset transfer-in, fund switching and change of investment mandate
                                                              • Investment Market Outlook
                                                              • e-statement
                                                              • Monthly performance table and quarterly fund performance fact sheet
                                                              • Members' newsletter and BCT e-News
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