On November 1, 2012, the long-awaited implementation of the Employee Choice Arrangement (ECA) marked a new chapter in the development of Hong Kong’s Mandatory Provident Fund (MPF) scheme.

Before the enactment of the ECA, employers alone made the decision on which MPF scheme to join, despite the fact that employees also make mandatory contributions. Under the new arrangement, at least once a year, employees can now opt to transfer the self-paid portion of their mandatory contributions to an MPF scheme of their choice.

This newly gained autonomy has intensified the already keen competition in the MPF market in Hong Kong. Not only did Swiss Life Network Partner Sun Life’s MPF market share rise last year, it has also experienced a substantial increase in applications to transfer employees’ MPF assets to its scheme.

Sun Life’s MPF scheme delivers comprehensive value

Sun Life provides value to its customers through offering a fully comprehensive MPF scheme. Using a duty segregation model, Sun Life selects the best expertise in the key MPF functions, including investment management, and fund and scheme administration. The model is clearly working: the Sun Life MPF has won several awards for its service and performance.

To ensure sustainable and outstanding fund performance, Sun Life is continuously adding to its fund platform. For example, to cater to increasing consumer appetite for RMB investment vehicles, Sun Life was the first in the market to include a fund with RMB investment exposure in its MPF scheme last June.

At Sun Life, offering value to customers goes beyond providing outperforming returns. As a strong believer in investor education, Sun Life tries to help existing and potential customers make informed investment decisions. Its efforts to increase financial literacy include investment talks and seminars to members, as well as an innovative proprietary information website MyMPFChoice.com, which shows the performance of all the MPF funds on the market.
 

 
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Image above: MyMPFChoice.com provides simulations of the accrued benefits that can be accumulated based on a mathematical model using hypothetical data 

 

To showcase this user-friendly online platform and increase public understanding of the MPF and ECA, Sun Life ran a series of outreach activities last year that included road shows in MTR stations and shopping malls, as well as a mobile showroom offering MPF information and tips on managing MPF investments for the general public. 

 

 


Sun Life’s group insurance promotion* 

As a caring group insurance service provider, Sun Life provides insured employees not only with life and/or medical coverage, but also supports their well-being. One example of this is its new group insurance customer incentive program. During the promotional period from February 1 to July 31, 2013, all insured employees of eligible newly joined group insurance policyholders may be entitled to a complimentary eye examination. Please contact Sun Life for more information.

 *The above promotion and group insurance plan are subject to the respective terms and conditions.

 

Disclaimer

Information contained in this advertorial is for reference only. This advertorial should not be regarded as any form of guarantees or professional investment advice. It does not constitute any recommendations or offer; nor should it form the basis of any contract to sell or to purchase any products. The information contained herein is based on or derived from publicly available information or sources that are believed to be reliable. Sun Life does not guarantee their accuracy and will not be liable for any loss, damage, costs or expenses howsoever caused, arising from or related to the use of such information.