BeSmart

Calculate well for a great retirement

Your retirement should be worry-free and we are here to help.
Have you considered compound interest and its rolling effect on your long-term savings? What about your MPF and investment returns? On top of it all, future medical and insurance expenses as well as the inevitable inflation - these are only some of the factors that contributes to your retirement reserve.


At Sun Life Hong Kong, we offer MPF, Savings & Life insurance as well as Medical protection for you to create a comprehensive plan.
Our services and products are well recognized and awarded in in the industry. Below are the Four Pillars of a Total Retirement Solution.

Four Pillars of a
Good Retirement Plan

Long-term Investment Plan smart
Be smart:
Look for disparity in returns
Be prudent:
Choose a value-for-money MPF scheme

Build your savings with compound interest
Be bright:
Use the Power of Time
Be sharp:
Choose an annuity plan to cope with longevity

Guard against uncertainties
Be insightful:
Foresee future trends in society
Be protected:
Choose a comprehensive medical protection plan

Whole Person Wellness Live long and joyfully in body and soul
Be mindful:
Understand what defines a truly happy retirement
Be knowledgeable:
Learn what will help you to be the person you want to be

Sun Life
Total Retirement Solution


Retirement Plans At A Glance

Retirement Plans
At A Glance

Drag and drop one of the cases here
for a preview of the strategies

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Sunny, A Learned Professional

Age 30, Monthly income HKD40K
Set retiring age at 60


Preview the strategy

John, A management echelon

Age 40, Monthly income HKD120K
Set retiring age at 60


Preview the strategy

Mr. Koo, a family man

Age 45, Monthly income of HKD60K
Set retiring age at 60


Preview the strategy

Mary, a freelancer

Age 25, Monthly income HKD25K
Set retiring age at 65


Preview the strategy

Ms Wong, a single lady of high net-worth

Age 55, Monthly income of HKD60K
Set retiring age at 70


Preview the strategy

Patrick, a SME owner

Age 35, Monthly income HKD50K
Set retiring age at 65


Preview the strategy

Sunny, A Learned Professional

Age 30, Monthly income HKD40K+

Sunny is happily married with his wife, earning a living together. The couple has brought a new member to the family earlier the year. Sunny plans to retire with his wife at the age of 60. After years of hard work, he has managed to accumulate HKD300K in his pocket.

before retirement
Use the power of time: contribute what he can afford when he is young, so he can stop paying in at later stage and enjoy a comfortable retirement.

Annual
contribution
amount
(HKD '000)
100
80
60
40
20
0

Stage 1
(age 30 to 44)
Stage 2
(age 45 to 54)
Stage 3
(age 55 to 59)
after retirement
TVC
Total contribution
HKD 690K
Projected account balance (age 60)1
HKD 1,432K
Projected cumulative growth1
+107%
Remark 1 [+ Expand]

The projected TVC account balance in the above example is calculated based on the assumption that the annualized rate of return net of fees is 4% and does not take into account other factors of MPF investments (e.g. the changes of investment portfolio during the investment period). The above example is based on an assumption with positive returns. Investor should be aware of any situations with negative returns during the investment period. The figures in the above example are hypothetical and for illustration purpose only, and it is not intended to provide any forms of guarantee or investment advice.

General Disclaimer [+ Expand]

This article, which is for informational purposes only, sets forth the views as of the date published. The foregoing information provided is for illustration purpose only. It is not a recommendation to purchase, sell or hold any particular products/funds. The underlying assumptions and these views are subject to change without notice. There is no guarantee that any forecasts expressed will be realized. The information contained in the above article is obtained and/or compiled from sources believed to be reliable and current. The Company cannot and does not warrant, guarantee or represent, either expressly or impliedly, the accuracy, validity or completeness of such information. The Company makes no express or implied warranties or representations with respect to any performance data contained herein (including its accuracy, completeness and timeliness). The Company accepts no liability whatsoever for any direct or indirect consequential loss arising from use of any information, opinion or estimate herein.

Investment involves risks and past performance is not indicative of future performance. Investment return may rise as well as fall. You should read the relevant principal offering document for further details and risk factors prior to making investment decision.

John, A management echelon

Age 40, Monthly income HKD120K

John and his wife, Mary raise a twin together. Mary stays home to take care of the family while John has been the bread-winner ever since they are married. John plans to retire at the age of 60 and that gives him 20 more years to achieve the goal. At this juncture in life, he has already accumulated an asset of 8 million dollars. How can he further secure a retired life of no worry?

before retirement
Use the power of time: contribute what he can afford when he is young, so he can stop paying in at later stage and enjoy a comfortable retirement.

Annual
contribution
amount
(HKD '000)
150
120
90
60
30
0

Monthly contribution of TVC HKD 1,000

Stage 1
(age 40 to 49)
Stage 2
(age 50 to 59)
after retirement
QDAP
Premium payment term: 10 years,
Annuity start age: 60, Annuity period: 15 years
Total premiums paid
HKD 1,200K
Total monthly annuity payment (guaranteed + non-guaranteed) at end of annuity period1
HKD 2,724K
+
TVC
Total contribution
HKD 600K
Projected account balance (age 60)2
HKD 1,683K
Projected cumulative growth2
+180%
Remark 1 [+ Expand]

The example assumes that all Monthly Annuity Payments are distributed to the insured monthly during the Annuity Period. The actual total Monthly Annuity Payment may be higher or lower than the above figures.

The Non-guaranteed Monthly Annuity Payment is determined and payable based on the accumulated Reversionary Bonus. The Non-guaranteed Monthly Annuity Payment as well as the Reversionary Bonus are non-guaranteed and are subject to change from time to time at the sole discretion of Sun Life Hong Kong Limited (“The Company”). They may vary based on the performance of a number of experience factors, with the investment return normally being the main determinant. Other factors include, but are not limited to, claim experience, policy expenses, taxes, and Policy Owner termination experience. If there is any change to Reversionary Bonus and Non-guaranteed Monthly Annuity Payment, total IRR will be affected. Under this plan, withdrawal of any cash value of accumulated Reversionary Bonus is only allowed after the end of premium payment term. After the end of premium payment term, such withdrawal will decrease the face value and cash value of the accumulated Reversionary Bonus, and the future Non-guaranteed Monthly Annuity Payment.

Remark 2 [+ Expand]

The projected TVC account balance in the above example is calculated based on the assumption that the annualized rate of return net of fees is 4% and does not take into account other factors of MPF investments (e.g. the changes of investment portfolio during the investment period). The above example is based on an assumption with positive returns. Investor should be aware of any situations with negative returns during the investment period. The figures in the above example are hypothetical and for illustration purpose only, and it is not intended to provide any forms of guarantee or investment advice.

General Disclaimer [+ Expand]

This article, which is for informational purposes only, sets forth the views as of the date published. The foregoing information provided is for illustration purpose only. It is not a recommendation to purchase, sell or hold any particular products/funds. The underlying assumptions and these views are subject to change without notice. There is no guarantee that any forecasts expressed will be realized. The information contained in the above article is obtained and/or compiled from sources believed to be reliable and current. The Company cannot and does not warrant, guarantee or represent, either expressly or impliedly, the accuracy, validity or completeness of such information. The Company makes no express or implied warranties or representations with respect to any performance data contained herein (including its accuracy, completeness and timeliness). The Company accepts no liability whatsoever for any direct or indirect consequential loss arising from use of any information, opinion or estimate herein.

Investment involves risks and past performance is not indicative of future performance. Investment return may rise as well as fall. You should read the relevant principal offering document for further details and risk factors prior to making investment decision.

Mr. Koo, a family man

Age 45, Monthly income of HKD60K

Mr. Koo lives a life with one single purpose:to provide the best for his loved ones. His wife is dedicated to taking care of their daughter at home 24/7. Mr. Koo has an asset of 4 million dollars already. He plans to work for 15 more years and retire at the age 60. To get the best out the coming years, what can he do to maximize his retirement funds?

before retirement
Use the power of time: contribute what he can afford when he is young, so he can stop paying in at later stage and enjoy a comfortable retirement.

Annual
contribution
amount
(HKD '000)
100
80
60
40
20
0

Monthly contribution of TVC HKD 1,000

Stage 1
(age 45 to 49)
Stage 2
(age 50 to 59)
after retirement
QDAP
Premium payment term: 5 years,
Annuity start age: 60, Annuity period: 20 years
Total premiums paid
HKD 480K
Total monthly annuity payment (guaranteed + non-guaranteed) at end of annuity period1
HKD 1,058K
Remark 1 [+ Expand]

The example assumes that all Monthly Annuity Payments are distributed to the insured monthly during the Annuity Period. The actual total Monthly Annuity Payment may be higher or lower than the above figures.

The Non-guaranteed Monthly Annuity Payment is determined and payable based on the accumulated Reversionary Bonus. The Non-guaranteed Monthly Annuity Payment as well as the Reversionary Bonus are non-guaranteed and are subject to change from time to time at the sole discretion of Sun Life Hong Kong Limited (“The Company”). They may vary based on the performance of a number of experience factors, with the investment return normally being the main determinant. Other factors include, but are not limited to, claim experience, policy expenses, taxes, and Policy Owner termination experience. If there is any change to Reversionary Bonus and Non-guaranteed Monthly Annuity Payment, total IRR will be affected. Under this plan, withdrawal of any cash value of accumulated Reversionary Bonus is only allowed after the end of premium payment term. After the end of premium payment term, such withdrawal will decrease the face value and cash value of the accumulated Reversionary Bonus, and the future Non-guaranteed Monthly Annuity Payment.

General Disclaimer [+ Expand]

This article, which is for informational purposes only, sets forth the views as of the date published. The foregoing information provided is for illustration purpose only. It is not a recommendation to purchase, sell or hold any particular products/funds. The underlying assumptions and these views are subject to change without notice. There is no guarantee that any forecasts expressed will be realized. The information contained in the above article is obtained and/or compiled from sources believed to be reliable and current. The Company cannot and does not warrant, guarantee or represent, either expressly or impliedly, the accuracy, validity or completeness of such information. The Company makes no express or implied warranties or representations with respect to any performance data contained herein (including its accuracy, completeness and timeliness). The Company accepts no liability whatsoever for any direct or indirect consequential loss arising from use of any information, opinion or estimate herein.

Investment involves risks and past performance is not indicative of future performance. Investment return may rise as well as fall. You should read the relevant principal offering document for further details and risk factors prior to making investment decision.

Mary, a freelancer

Age 25, Monthly income HKD25K

Graduated from university years ago, Mary has been dedicated all her time to make money and hopefully own her own property with little help from her parents. In her mind, retirement is a matter that does not concern her in the near future. Yet if she plans ahead and set her retiring age at 65, how can she make the best out of the coming 40 years?

before retirement
Use the power of time: contribute what she can afford when she is young, so she can stop paying in at later stage and enjoy a comfortable retirement.

Annual
contribution
amount
(HKD '000)
100
80
60
40
20
0

Monthly contribution of TVC HKD 1,000

Stage 1
(age 25 to 34)
Stage 2
(age 35 to 44)
Stage 3
(age 45 to 54)
Stage 4
(age 55 to 64)
after retirement
QDAP
Premium payment term: 10 years,
Annuity start age: 65, Annuity period: 35 years
Total premiums paid
HKD 300K
Total monthly annuity payment (guaranteed + non-guaranteed) at end of annuity period1
HKD 1,785K
+
TVC
Total contribution
HKD 660K
Projected account balance (age 65)2
HKD 1,683K
Projected cumulative growth2
+155%
Remark 1 [+ Expand]

The example assumes that all Monthly Annuity Payments are distributed to the insured monthly during the Annuity Period. The actual total Monthly Annuity Payment may be higher or lower than the above figures.

The Non-guaranteed Monthly Annuity Payment is determined and payable based on the accumulated Reversionary Bonus. The Non-guaranteed Monthly Annuity Payment as well as the Reversionary Bonus are non-guaranteed and are subject to change from time to time at the sole discretion of Sun Life Hong Kong Limited (“The Company”). They may vary based on the performance of a number of experience factors, with the investment return normally being the main determinant. Other factors include, but are not limited to, claim experience, policy expenses, taxes, and Policy Owner termination experience. If there is any change to Reversionary Bonus and Non-guaranteed Monthly Annuity Payment, total IRR will be affected. Under this plan, withdrawal of any cash value of accumulated Reversionary Bonus is only allowed after the end of premium payment term. After the end of premium payment term, such withdrawal will decrease the face value and cash value of the accumulated Reversionary Bonus, and the future Non-guaranteed Monthly Annuity Payment.

Remark 2 [+ Expand]

The projected TVC account balance in the above example is calculated based on the assumption that the annualized rate of return net of fees is 4% and does not take into account other factors of MPF investments (e.g. the changes of investment portfolio during the investment period). The above example is based on an assumption with positive returns. Investor should be aware of any situations with negative returns during the investment period. The figures in the above example are hypothetical and for illustration purpose only, and it is not intended to provide any forms of guarantee or investment advice.

General Disclaimer [+ Expand]

This article, which is for informational purposes only, sets forth the views as of the date published. The foregoing information provided is for illustration purpose only. It is not a recommendation to purchase, sell or hold any particular products/funds. The underlying assumptions and these views are subject to change without notice. There is no guarantee that any forecasts expressed will be realized. The information contained in the above article is obtained and/or compiled from sources believed to be reliable and current. The Company cannot and does not warrant, guarantee or represent, either expressly or impliedly, the accuracy, validity or completeness of such information. The Company makes no express or implied warranties or representations with respect to any performance data contained herein (including its accuracy, completeness and timeliness). The Company accepts no liability whatsoever for any direct or indirect consequential loss arising from use of any information, opinion or estimate herein.

Investment involves risks and past performance is not indicative of future performance. Investment return may rise as well as fall. You should read the relevant principal offering document for further details and risk factors prior to making investment decision.

Patrick, a SME owner

Age 35, Monthly income HKD50K

Being a young and ambitious entrepreneur, Patrick runs his own online retail business for years and has successfully accumulated HKD1 million. Good at decision making, he plans for achieving the goal of retirement in 30 years.

before retirement
Use the power of time: contribute what he can afford when he is young, so he can reduce paying in at later stage and enjoy a comfortable retirement.

Annual
contribution
amount
(HKD '000)
100
80
60
40
20
0

Monthly contribution of TVC HKD 1,000

Stage 1
(age 35 to 44)
Stage 2
(age 45 to 54)
Stage 3
(age 55 to 64)
after retirement
QDAP
Premium payment term: 10 years,
Annuity start age: 65, Annuity period: 20 years
Total premiums paid
HKD 300K
Total monthly annuity payment (guaranteed + non-guaranteed) at end of annuity period1
HKD 1,226K
+
TVC
Total contribution
HKD 1,140K
Projected account balance (age 65)2
HKD 2,144K
Projected cumulative growth2
+88%
Remark 1 [+ Expand]

The example assumes that all Monthly Annuity Payments are distributed to the insured monthly during the Annuity Period. The actual total Monthly Annuity Payment may be higher or lower than the above figures.

The Non-guaranteed Monthly Annuity Payment is determined and payable based on the accumulated Reversionary Bonus. The Non-guaranteed Monthly Annuity Payment as well as the Reversionary Bonus are non-guaranteed and are subject to change from time to time at the sole discretion of Sun Life Hong Kong Limited (“The Company”). They may vary based on the performance of a number of experience factors, with the investment return normally being the main determinant. Other factors include, but are not limited to, claim experience, policy expenses, taxes, and Policy Owner termination experience. If there is any change to Reversionary Bonus and Non-guaranteed Monthly Annuity Payment, total IRR will be affected. Under this plan, withdrawal of any cash value of accumulated Reversionary Bonus is only allowed after the end of premium payment term. After the end of premium payment term, such withdrawal will decrease the face value and cash value of the accumulated Reversionary Bonus, and the future Non-guaranteed Monthly Annuity Payment.

Remark 2 [+ Expand]

The projected TVC account balance in the above example is calculated based on the assumption that the annualized rate of return net of fees is 4% and does not take into account other factors of MPF investments (e.g. the changes of investment portfolio during the investment period). The above example is based on an assumption with positive returns. Investor should be aware of any situations with negative returns during the investment period. The figures in the above example are hypothetical and for illustration purpose only, and it is not intended to provide any forms of guarantee or investment advice.

General Disclaimer [+ Expand]

This article, which is for informational purposes only, sets forth the views as of the date published. The foregoing information provided is for illustration purpose only. It is not a recommendation to purchase, sell or hold any particular products/funds. The underlying assumptions and these views are subject to change without notice. There is no guarantee that any forecasts expressed will be realized. The information contained in the above article is obtained and/or compiled from sources believed to be reliable and current. The Company cannot and does not warrant, guarantee or represent, either expressly or impliedly, the accuracy, validity or completeness of such information. The Company makes no express or implied warranties or representations with respect to any performance data contained herein (including its accuracy, completeness and timeliness). The Company accepts no liability whatsoever for any direct or indirect consequential loss arising from use of any information, opinion or estimate herein.

Investment involves risks and past performance is not indicative of future performance. Investment return may rise as well as fall. You should read the relevant principal offering document for further details and risk factors prior to making investment decision.

Ms Wong, a single lady of high net-worth

Age 50, Monthly income of HKD60K

Ms Wong leads a life without any burden of raising children. Throughout the years, she has already accumulated an asset of 3 million dollars under her name. She wants to retire at 70 in 20 years and enjoy annuity returns till age 100. What could she do to achieve that?

before retirement
Use the power of time: contribute what she can afford when she is young, so she can stop paying in at later stage and enjoy a comfortable retirement.

Annual
contribution
amount
(HKD '000)
100
80
60
40
20
0

Monthly contribution of TVC HKD 1,000

Stage 1
(age 50 to 54)
Stage 2
(age 55 to 69)
after retirement
QDAP
Premium payment term: 5 years,
Annuity start age: 70, Annuity period: 30 years
Total premiums paid
HKD 400K
Total monthly annuity payment (guaranteed + non-guaranteed) at end of annuity period1
HKD 1,526K
Remark 1 [+ Expand]

The example assumes that all Monthly Annuity Payments are distributed to the insured monthly during the Annuity Period. The actual total Monthly Annuity Payment may be higher or lower than the above figures.

The Non-guaranteed Monthly Annuity Payment is determined and payable based on the accumulated Reversionary Bonus. The Non-guaranteed Monthly Annuity Payment as well as the Reversionary Bonus are non-guaranteed and are subject to change from time to time at the sole discretion of Sun Life Hong Kong Limited (“The Company”). They may vary based on the performance of a number of experience factors, with the investment return normally being the main determinant. Other factors include, but are not limited to, claim experience, policy expenses, taxes, and Policy Owner termination experience. If there is any change to Reversionary Bonus and Non-guaranteed Monthly Annuity Payment, total IRR will be affected. Under this plan, withdrawal of any cash value of accumulated Reversionary Bonus is only allowed after the end of premium payment term. After the end of premium payment term, such withdrawal will decrease the face value and cash value of the accumulated Reversionary Bonus, and the future Non-guaranteed Monthly Annuity Payment.

General Disclaimer [+ Expand]

This article, which is for informational purposes only, sets forth the views as of the date published. The foregoing information provided is for illustration purpose only. It is not a recommendation to purchase, sell or hold any particular products/funds. The underlying assumptions and these views are subject to change without notice. There is no guarantee that any forecasts expressed will be realized. The information contained in the above article is obtained and/or compiled from sources believed to be reliable and current. The Company cannot and does not warrant, guarantee or represent, either expressly or impliedly, the accuracy, validity or completeness of such information. The Company makes no express or implied warranties or representations with respect to any performance data contained herein (including its accuracy, completeness and timeliness). The Company accepts no liability whatsoever for any direct or indirect consequential loss arising from use of any information, opinion or estimate herein.

Investment involves risks and past performance is not indicative of future performance. Investment return may rise as well as fall. You should read the relevant principal offering document for further details and risk factors prior to making investment decision.

How can a retirement plan
be well formulated?


Which should I choose: QDAP or TVC in a MPF scheme?

Both financial tools have their own merits, you might consider build up a combined portfolio according to your own needs, putting money in both of them to enjoy the advantages that each offers.

Qualifying Deferred Annuity Policy (QDAP)

To "add up" your financial reserves for retirement, in addition to choosing from the different investment tools to create your own retirement income, you could also consider a Qualifying Deferred Annuity Policy (QDAP). Not only will this help to create a stable income stream for you, it also offers tax concessions if you are eligible for tax deductions.

TVC in a MPF scheme

To boost your retirement savings efficiently, you could consider Tax Deductible Voluntary Contributions (TVC) in an MPF scheme. This will not only help your retirement plan, but also enable you to enjoy tax savings if you are eligible for tax deductions. So you can have a more worry-free and fruitful retirement.

To "add up" your financial reserves for retirement, in addition to choosing from the different investment tools to create your own retirement income, you could also consider a Qualifying Deferred Annuity Policy (QDAP). Not only will this help to create a stable income stream for you, it also offers tax concessions if you are eligible for tax deductions.

This tool creates a stable income stream within the annuity period.

The internal return rate for the guaranteed return has to meet a minimum requirement, so the insurance company has to provide a partial guaranteed return.

The earliest annuity payment period starts when the policy holder reaches the age of 50.

QDAP Q&A
1. What is a Qualifying Deferred Annuity Policy (QDAP)?
2. What is the difference between a QDAP and other annuity plans in the market?
3. What are the benefits of using a deferred annuity plan for retirement savings?
4. How much tax deduction can I enjoy with a QDAP?
Back

To boost your retirement savings efficiently, you could consider Tax Deductible Voluntary Contributions (TVC) in an MPF scheme. This will not only help your retirement plan, but also enable you to enjoy tax savings if you are eligible for tax deductions. So you can have a more worry-free and fruitful retirement.

MPF schemes cover different funds with different levels of risk and return to suit the individual needs of retirees.

Members can adjust their contribution amounts at any time

Benefits can only be withdrawn when members reach the age of 65 (or on other statutory grounds)

TVC in an MPF scheme Q&A
1. What are Tax Deductible Voluntary Contributions (TVC) in an MPF scheme? Who can make tax deductible voluntary contributions?
2. What are the differences between TVCs and the current MPF scheme?
3. If I want to make TVC, what should I do?
4. What are the advantages of planning retirement savings through TVC?
5. How much in tax deductions can I enjoy from TVC?
6. When can I start contributions for TVC? And when can I claim the tax deductions?
Back

Types of life insurance:

Foresight Deferred Annuity Plan

Foresight Deferred Annuity Plan

Benefit Term: To age 100
  • Offer stable income stream
  • With flexible plan options
  • Eligible for tax deduction
Foresight Deferred Annuity Plan
FlexiRetire Annuity Plan

FlexiRetire Annuity Plan

Benefit Term: To age 100
  • Flexible plan options
  • Provides Monthly Income
  • Simplified underwriting
FlexiRetire Annuity Plan

Vision

Benefit Term : To age 120 or 120 years since policy issue
  • 2 years premium payment
  • Offers Monthly Coupon
Commitment
Commitment

Commitment

Accumulation Term 10-35 years
  • 2 settlement options
  • Policy Continuation
    Benefit
Commitment

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