To encourage voluntary savings for retirement for the Hong Kong workforce, the government has just passed the Tax Deductions for Annuity Premiums and MPF Voluntary Contributions (Amendment) Bill 2018 (Amendment Bill) on March 20, 2019. Eligible MPF or ORSO member can set up and make contributions to this account, known as the Tax Deductible Voluntary Contributions (TVC) account.

The TVC is separate from the normal voluntary contribution (VC) and is subject to different rules. Main differences are that the TVC is tax deductible (up to $60,000) and subject to the same preservation and withdrawal restrictions applicable to mandatory contributions. Please see our notice for more detail.

Please contact your customer service officer or email us at mpf@riskmgtgroup.com if you have any questions or if you would like to set up the TVC account.