According to the MPF Schemes Ordinance, an employer has to set up an MPF scheme for employees. A good MPF scheme should provide suitable fund choice with quality performance to employees and comprehensive services to both of employer and employees.
Whenever you change your job or implementation of the Employee Choice Arrangement, you will face the choice of MPF scheme for your Personal Account. Too many Personal Account will affect your overall MPF investment performance & increase the difficulty of management. Therefore, you should consolidate those Personal Accounts at an appropriate time.
In addition to mandatory contribution, you may open a Tax Deductible Voluntary Contributions account to enjoy a maximum of HKD 60,000 yearly tax deductible. Most MPF trustees offer TVC accounts. You may opt for TVC accounts in any MPF schemes which offer such accounts and make contributions directly to the trustees without involving your employers. Please feel free to contact us for comparison.
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