We apply a 70% replacement ratio for post-retirement spending as market consensus believes most people need approximately 70% of their current spending to maintain reasonable post-retirement living standards. Therefore, in this retirement calculator, “Monthly income required at retirement” equals to 70% of the “Current monthly expenses” regardless of inflation impact. “Current monthly expenses” is also used for calculating “Total required at retirement”, but not used for calculating “Total available at retirement”.
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Annual Inflation Rate
3.12% per annum, based on the average composite consumer price index since 2017.
Source: BCT Financial Limited, Census and Statistics Department, data as of 31st Dec 2017
Expected annual MPF/ORSO return
The default return is based on the average of the 3-year annualized return of BCT’s constituent funds under respective risk category that matches the result of the questionnaire. If the result of the questionnaire is risk category 4, then the default return is the average of the 3-year annualized return of BCT’s constituent funds under risk category 4.
Life Expectancy
Life expectancy at birth for male in 2017: 81.5 years
Life expectancy at birth for female in 2017: 87.5 years
Source: Census and Statistics Department, data as of 30th September 2017
Special Voluntary Contribution (SVC)
A fixed amount contributed to MPF account in addition to mandatory and any voluntary contributions.
SVC are paid directly by the employee to trustee without going through the employer. Making contribution and withdrawing accrued benefits are neither tied to employment nor subject to preservation requirements.
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Please call our Employer Hotline at 2298 9388 for details. Our representatives will also be glad to meet you in person to discuss your specific needs and to assist you to set up a plan with BCT.
Start Up Kit
You can download the start up kit to set up the plan.
Update Company Information
To keep you and your employees informed of the latest MPF related information and investment performance, please keep us updated of your company details including:
- Company name
- Correspondence address
- E-mail address
- Contact person and contact telephone number
- Any other relevant information
You are also advised to change the authorised signer of your company resulting from staff movement.
What to Do
Step 1
Complete Form
- Change general information: Complete the Information Update Form [FORM REF. IU (ER)] (For Participating Employer)
- Change your company’s authorized signer: Complete the Authorised Signature Specimen Form [FORM REF. AS (ER)]
Step 2
Submission
Send the original forms to us as soon as the information becomes effective.
If you are self-employed person, you can simply call our Member Hotline at 2298 9333 or visit any branch of our servicing banks. For details, please click here.
