MPF/ORSO
                                               
                                               

                                              BCT Service Pledge

                                              BCT is dedicated to providing quality service.

                                              BCT unveils an updated platform for BCT (MPF) Pro Choice with certain restructuring and changes of investment policies which will take effect on 23 April 2018. During the transition period of restructuring (particularly, after the imposition of relevant cut-off deadlines), our service pledges (as stated below) in relations to certain services with relevant constituent funds will not be applicable. For details of the restructuring, please refer to the "Notice to Participating Employers and Members".

                                              TrusteeBank Consortium Trust Company Limited
                                              MPF SchemeBCT (MPF) Industry ChoiceBCT (MPF) Pro Choice
                                              Change of investment allocation of existing account balance
                                              Change of investment mandate of future contributions
                                              By mail Number of free changes (per calendar year / per scheme year) Unlimited Unlimited
                                              Required time to complete 4 Date of receipt of the completed instruction Date of receipt of the completed instruction
                                              By fax Number of free changes (per calendar year / per scheme year) Unlimited Unlimited
                                              Cut-off time 4:00 p.m. 4:00 p.m.
                                              Required time to complete 5 Date of receipt of the completed instruction Date of receipt of the completed instruction
                                              Through website Number of free changes (per calendar year / per scheme year) Unlimited Unlimited
                                              Cut-off time 4:00 p.m. 4:00 p.m.
                                              Required time to complete 5 Date of receipt of the completed instruction Date of receipt of the completed instruction
                                              Confirmation Statement for Change of Investment Mandate True True
                                              Footnote
                                              4

                                              From the day following the day of receipt of member's duly completed form by the trustee's administration centre to the working day on which the trustee has completed updating the investment allocation of future contributions (exclusive of the day of receipt of the form by the trustee). However, the relevant information may not be updated simultaneously to the trustee's website and IVRS. You may contact the trustee for details. If the form is submitted through other channels provided by the trustee (e.g. bank branch), it may take extra time to pass the form to the administration centre of the trustee.

                                              5 From the day following the day of receipt of member's valid instruction (before the cut-off time on that day) by the trustee's administration centre to the working day on which the trustee has completed updating the investment allocation of future contributions (exclusive of the day of receipt of the instruction by the trustee). However, the relevant information may not be updated simultaneously to the trustee's website and IVRS. You may contact the trustee for details. If the instruction is received by the trustee after the cut-off time on a working day or at any time on a non-working day, it will be deemed to have been received on the next working day.
                                              Contribution allocation
                                              Required time to complete (after the date of receipt of required documents) Employer pays by cheque 6 Within 4 working days Within 4 working days
                                              Employer pays by Direct Debit Method 7 Within 6 working days Within 6 working days
                                              Employer pays by Telegraphic / Bank Transfer 8 Within 4 working days Within 4 working days
                                              Footnote
                                              6 From the day following the day of receipt of employer's completed Remittance Statement and cheque by the trustee's administration centre to the working day on which the trustee has used the contributions to subscribe for units in the relevant constituent fund(s) (i.e. the date on which the fund price used for fund subscription is quoted) for the member (exclusive of the day of receipt of the Remittance Statement and cheque by the trustee). If the document is submitted through other channels provided by the trustee (e.g. bank branch), it may take extra time to pass the form to the administration centre of the trustee.
                                              7 From the day following the day of receipt of employer's completed Remittance Statement by the trustee's administration centre to the working day on which the trustee has received the contributions from employer's designated bank account and then used the contributions to subscribe for units in the relevant constituent fund(s) (i.e. the date on which the fund price used for fund subscription is quoted) for the member (exclusive of the day of receipt of the Remittance Statement by the trustee). If the document is submitted through other channels provided by the trustee (e.g. bank branch), it may take extra time to pass the form to the administration centre of the trustee.
                                              8 From the day following the day of receipt of employer's completed Remittance Statement and the contributions by the trustee's administration centre to the working day on which the trustee has used the contributions to subscribe for units in the relevant constituent fund(s) (i.e. the date on which the fund price used for fund subscription is quoted) for the member(exclusive of the day of receipt of the Remittance Statement and the contributions by the trustee). If the document is submitted through other channels provided by the trustee (e.g.bank branch), it may take extra time to pass the form to the administration centre of the trustee.
                                              Transfer of MPF Benefits
                                              Employee Choice Arrangement As a new trustee, the processing time for serving a copy of election form on the original trustee (after the date of receipt of completed instruction) 9 Within 5 working days Within 5 working days
                                              As an original trustee, the processing time for redeeming the fund units in member's account 10 Within 4 working days Within 4 working days
                                              As an original trustee, the processing time for transferring MPF benefits out to new scheme after redemption of fund units 11 Within 6 working days Within 6 working days
                                              As a new trustee, the processing time for transferring MPF benefits in from original scheme 12 Within 2 working days Within 2 working days
                                              Transfer arrangement for self-employed person, personal account holder or employee ceasing employment As a new trustee, the processing time for serving a copy of election form on the original trustee (after the date of receipt of completed instruction) 9 Within 5 working days Within 5 working days
                                              As an original trustee, the processing time for redeeming the fund units in member's account 10 Within 7 working days Within 7 working days
                                              As an original trustee, the processing time for transferring MPF benefits out to new scheme after redemption of fund units 11 Within 6 working days Within 6 working days
                                              As a new trustee, the processing time for transferring MPF benefits in from original scheme 12 Within 2 working days Within 2 working days
                                              Footnote
                                              9 From the day following the day of receipt of member's duly completed election form by the new trustee's administration centre to the working day on which the new trustee has served a copy of the election form on the original trustee (exclusive of the day of receipt of the form by the new trustee). If the form is submitted through other channels provided by the trustee (e.g. bank branch), it may take extra time to pass the form to the administration centre of the trustee.
                                              10 From the day following the day on which the original trustee receives a copy of the duly completed election form and all required supporting documents from the new trustee to the working day on which the original trustee has redeemed the fund units in the member's account (exclusive of the day of receipt of the copy of the form and the supporting documents by the original trustee).
                                              11 From the day following the day on which the original trustee has redeemed the fund units in the member's account to the working day on which the original trustee has transferred the accrued benefits out to the new trustee (exclusive of the day of redemption of fund units by the trustee).
                                              12 From the day following the day on which the new trustee receives the accrued benefits from the original trustee to the working day on which the new trustee has used the transferred-in benefits to subscribe for units in the relevant constituent fund(s) (i.e. the date on which the fund price used for fund subscription is quoted) for the member (exclusive of the day of receipt of the accrued benefits by the new trustee).
                                              Withdrawal of MPF benefits
                                              In a lump sum The processing time for redeeming the fund units in member's account (after the date of receipt of completed instruction) 13 Within 7 working days Within 7 working days
                                              The processing time for paying the accrued benefits out by trustee after redemption of fund units 14 Within 6 working days Within 6 working days
                                              By instalments (applicable to claims of benefits on the grounds of attaining the retirement age of 65 and early retirement only) Number of free withdrawals by instalments offered (per account in a calendar year) Unlimited Unlimited
                                              Fees charged for exceeding the number of free withdrawals by instalments offered (per withdrawal) Nil Nil
                                              The processing time for redeeming the fund units in member's account 15 Within 7 working days Within 7 working days
                                              The processing time for paying the accrued benefits out by trustee after redemption of fund units 14 Within 6 working days Within 6 working days
                                              Footnote
                                              13 From the day following the day of receipt of claimant's duly completed claim form and all required supporting documents by the trustee's administration centre to the working day on which the trustee has redeemed the fund units in the member's account (exclusive of the day of receipt of the form and the required supporting documents by the trustee). To facilitate members' comparison, the processing time provided in this field assumes that the claim for payment is made on the ground of attaining the retirement age of 65, early retirement, total incapacity, terminal illness, death, or small balance. The trustee may need more time to process claims under other circumstances. If the form is submitted through other channels provided by the trustee (e.g. bank branch), it may take extra time to pass the form to the administration centre of the trustee.
                                              14 From the day following the day on which the trustee has redeemed the fund units in the member's account to the working day on which the trustee has paid the accrued benefits to the claimant (exclusive of the day of redemption of fund units by the trustee).
                                              15 From the day following the day of receipt of claimant's duly completed claim form and all required supporting documents by the trustee's administration centre to the working day on which the trustee has redeemed the fund units in the member's account (exclusive of the day of receipt of the form and the required supporting documents by the trustee), unless otherwise agreed between the trustee and the claimant. If the form is submitted through other channels provided by the trustee (e.g. bank branch), it may take extra time to pass the form to the administration centre of the trustee.