“Enjoy Bonus Together” Program

When changing jobs or terminating employment, if the trustee does not receive terminating of member’s instructions for handling the MPF benefits in your contribution account within three months after receiving your former employer’s notice of terminating employment, your accrued benefits will automatically be transferred to a personal account under the scheme of your previous job, in which your MPF benefits will continue to be invested. If you are unaware of this arrangement, you may have a new personal account every time you change jobs. The simplest way to manage your multiple personal accounts more efficiently is to consolidate them.

With the implementation of MPF “Employee Choice Arrangement” (“ECA”), employees can have greater control over and more flexibility in their MPF accounts. As an employee, you can transfer all of your accrued benefits derived from the employee mandatory contributions during your current employment from a contribution account to a personal account under a MPF scheme of your own choice once every calendar year¹. You can henceforth reposition your MPF and plan for a better retirement life.

¹ Calendar year means the period from January 1 to December 31 in any given year.

Sun Life Rainbow MPF Scheme (the “Scheme”) offers 14 constituent funds with different categories*. The constituent fund categories include:

• Equity Fund (Global, Asia (ex-Japan), Hong Kong Index Tracking, Hong Kong and Greater China)
• Mixed Asset Fund (>20% - 40% Equity, >40% - 60% Equity and >60% - 80% Equity)
• Bond Fund (Global and Hong Kong)
• Money Market Fund (RMB and HKD)
• Default Investment Strategy (Core Accumulation Fund and Age 65 Plus Fund)
• MPF Conservative Fund

* The above fund categories are determined based on Lipper’s Hong Kong Pension Fund Classification.

If you do not want the burden of managing your investment portfolio on a regular basis, you can consider joining Fund Cruiser. This program adopts a pre-determined asset allocation method², which automatically rebalances your MPF portfolio every year according to your age on your birthday³. The risk level of the portfolio will therefore shift from high to low gradually as you get closer to your retirement.

Note: Members should note that the pre-determined asset allocation under “Fund Cruiser” is a standard arrangement only and does not constitute any investment advice to individual members. The arrangement does not take into account factors other than age, which members may also need to consider, such as their investment objectives, financial needs, risk tolerance, market and economic situations.

In addition, you may consider choosing Default Investment Strategy (“DIS”). The DIS is not a fund - it is a strategy that uses two constituent funds, namely the Core Accumulation Fund and the Age 65 Plus Fund (collectively the “DIS CFs”) to automatically reduce members’ risk exposure as member’s approach their retirement age through investing in the DIS CFs according to the pre-set allocation percentages specified by law.

Note: Members should note that the DIS adopts pre-determined asset allocation and automatically adjusts asset allocation based only upon a member’s age. The DIS does not take into account factors other than age, such as market and economic conditions nor member’s personal circumstances including investment objectives, financial needs, risk tolerance or likely retirement date. Members who want their MPF portfolio to reflect their own personal circumstances can make their own selection of funds from the range available in the Scheme.

For more details of the constituent funds, Fund Cruiser and DIS under Sun Life Rainbow MPF Scheme, please refer to the MPF Scheme Brochure of the Scheme.

² For more details of asset allocation of Fund Cruiser, please refer to the MPF Scheme Brochure of the Scheme.

³ If the member’s birthday falls on a non-business day, the MPF portfolio will be rebalanced on the first business day after the birthday.

Sun Life Hong Kong launches “Enjoy Bonus Together” Program. You and your relatives or friends may enjoy up to HK$13,000 of bonus unit rebate. Please find more details and terms and conditions as follow

“ECA Transfer” refers to the transferred accrued benefits derived from the employee mandatory contributions under current employment in their contribution accounts to a scheme of their own choice once a calendar year and/or transferred accrued benefits derived from the employee contributions from former employments transferred to the contribution accounts under current employment to a scheme of their own choice.

“Extra Bonus Unit Rebate” refers to the amount of extra bonus unit rebate (listed below in Table 2 – Details of Extra Bonus Unit Rebate) which will be received by members who meet the requirements mentioned in the terms and conditions of the “Enjoy Bonus Together” Program.

“Member Voluntary Sub-account” refers to the employee’s voluntary sub-account of the contribution account, self-employed person (SEP) member’s voluntary sub-account of the contribution account and the voluntary personal sub-account of the personal account.

“Non-ECA Transfer” refers to any transferred accrued benefits other than from “ECA Transfer” as defined above.

“One-off Bonus Unit Rebate” refers to the amount of one-off bonus unit rebate (listed below in Table 1 - Details of One-off Bonus Unit Rebate) which will be received by members who meet the requirements mentioned in the terms and conditions of the “Enjoy Bonus Together” Program.

“Promotion Period” means the period from 10 January, 2023 – 31 March 2023, both dates inclusive.

“Relevant Members” refers to the members who completed and submitted the “Enjoy Bonus Together” Program Application Form^{^} together and applied for the Transfer of Accrued Benefits during the Promotion Period.

“Transfer of Accrued Benefits” refers to member’s MPF accrued benefits transferred from other MPF schemes to a personal account^§ and/or a contribution account (that is, a self-employed person account and/or an employee account) under the Scheme during the Promotion Period, which may be ECA Transfer or Non-ECA Transfer, or both but excluding the transfer of accrued benefits elected by an employer.

“Validation Day” refers to the date of May 31, 2023.

^§ If a member has more than one personal accounts, he/she should choose the personal account with the latest set up date for receiving the Transfer of Accrued Benefits.

^{^} Each group of Relevant Members is required to submit one “Enjoy Bonus Together” Program Application Form only

Members may enjoy a One-off Bonus Unit Rebate if they apply for transfer of accrued benefits from other MPF schemes to the Scheme of not less than HK$50,000 of Transfer of Accrued Benefits during the Promotion Period and the Transfer of Accrued Benefits is successfully completed on or before the Validation Day.

Members who are eligible to enjoy the One-off Bonus Unit Rebate may receive an Extra Bonus Unit Rebate with the amount equivalent to 10% of the One-off Bonus Unit Rebate if the Transfer of Accrued Benefits applied during the Promotion Period and successfully completed on or before the Validation Day includes both ECA Transfer and Non-ECA Transfer.

If a member assembles another member to form a group of two to apply for “Enjoy Bonus Together” Program^{^}, both of them being the Relevant Members, they may receive an Extra Bonus Unit Rebate with the amount equivalent to 20% of the One-off Bonus Unit Rebate if they apply the transfer of accrued benefits from other MPF schemes to the Scheme with not less than HK$50,000 of Transfer of Accrued Benefits during the Promotion Period and the Transfer of Accrued Benefits are successfully completed on or before the Validation Day.

For Relevant Members under the “Enjoy Bonus Together” Program who are eligible to enjoy the One-off Bonus Unit Rebate, they may receive an Extra Bonus Unit Rebate with the amount equivalent to 30% of One-off Bonus Unit Rebate if the Transfer of Accrued Benefits applied during the Promotion Period and successfully completed on or before the Validation Day includes both ECA Transfer and Non-ECA Transfer.

The One-off Bonus Unit Rebate and the Extra Bonus Unit Rebate (if applicable) will be credited on or before July 14, 2023 as additional fund units to Member Voluntary Sub-account under the Scheme in which the Transfer of Accrued Benefits are received. If the Transfer of Accrued Benefits are transferred to more than one member account of that particular member under the Scheme, all the additional fund units will be credited to the member account with the latest set-up date in which the Transfer of Accrued Benefits are received.

Please refer to the following tables for the details of the One-off Bonus Unit Rebate, the Extra Bonus Unit Rebate and the terms and conditions of the program.

^ Each group of Relevant Members is required to submit one “Enjoy Bonus Together” Program Application Form only.

1. Members will be entitled to receive the One-off Bonus Unit Rebate if they meet the following requirements:
   1. members apply for Transfer of Accrued Benefits during the Promotion Period; and
   2. the Transfer of Accrued Benefits applied are successfully transferred on or before the Validation Day to member’s personal account^§ and/or contribution account (that is, a self-employed account and/or an employee account(as the case may be)) under the Scheme; and
   3. the amount of Transfer of Accrued Benefits to the Scheme per member reaches HK$50,000 or above; and
   4. members are required to retain all amount of the Transfer of Accrued Benefits under the same account until June 30, 2023. Otherwise, Sun Life Hong Kong Limited shall have a right not to provide the offer to such members.
2. Members who fulfill the terms and conditions in point 1 above will be entitled to receive 10% of the One-off Bonus Unit Rebate as the Extra Bonus Unit Rebate if their Transfers of Accrued Benefits to the Scheme include both ECA Transfer and Non-ECA Transfer.
3. Members who fulfill the terms and conditions in point 1 above will be entitled to received 20% of the One-off Bonus Unit Rebate as the Extra Bonus Unit Rebate if they meet the following requirements:
   1. two members form a group of two and submit one “Enjoy Bonus Together” Program Application Form^ , together and applied for the Transfer of Accrued Benefits ; and
   2. both Relevant Members fulfill the terms and conditions in point 1 above.
4. Members who fulfill the terms and conditions in point 1 above will be entitled to receive 30% of the One-off Bonus Unit Rebate as the Extra Bonus Unit Rebate if they also fulfill the terms and conditions in point 2 and point 3 above.
5. The amount of the Extra Bonus Unit Rebate is subject to the member’s fulfillment of the terms and conditions in point 1, point 2 and point 3 above, and the required member’s amount of the Transfer of Accrued Benefits.
6. Each Relevant Member can apply for the “Enjoy Bonus Together” Program only once. If a Relevant Member applies for more than once, only the first completed application document received will be processed.
7. The Relevant Members stated and specified on the “Enjoy Bonus Together” Application Form^{^} cannot be changed once submitted.
8. The maximum amount of the One-off Bonus Unit Rebate and the Extra Bonus Unit Rebate in total per member or Relevant Member in this promotion program is capped at HK$13,000.
9. The One-off Bonus Unit Rebate and the Extra Bonus Unit Rebate (if applicable) will be credited on or before July 14, 2023 as additional fund units to Member Voluntary Sub-account under the Scheme in which the Transfer of Accrued Benefits are received. If the Transfer of Accrued Benefits are transferred to more than one member account of that particular member under the Scheme, all the additional fund units will be credited to the member account with the latest set-up date in which the Transfer of Accrued Benefits are received.
   The investment allocation of the additional fund units will follow the latest investment mandate of the voluntary contributions under the member account in which the additional fund units are received. If members do not have any investment mandate in respect of the voluntary contributions under their personal accounts^§ receiving the additional fund units, the additional fund units will be invested according to the Default Investment Strategy.
10. The same level of fees and charges currently applies to the account for receiving the additional fund units will be charged on the additional fund units.
11. Sun Life Hong Kong Limited will notify the eligible members by surface mail on July 31, 2023 for the successful credit of the bonus unit rebate to their accounts.
12. Regarding this promotion program, in case of any dispute, the decision of Sun Life Hong Kong Limited shall be final and conclusive.
     

^§ If a member has more than one personal accounts, he/she should choose the personal account with the latest set up date for receiving the Transfer of Accrued Benefits.

^{^} Each group of Relevant Members is required to submit one “Enjoy Bonus Together” Program Application Form only.

Investment involves risks and past performance is not indicative of future performance. Investment return may rise as well as fall due to market condition and currency movement which may affect the value of investments. The value of units may vary due to changes in exchange rates between currencies. Emerging markets may involve a higher degree of risk than in developed markets and are usually more sensitive to price movements.

The return of Sun Life MPF RMB and HKD Fund may be adversely affected by movements in RMB exchange rates as well as foreign exchange controls and repatriation restrictions imposed by the Chinese government as the fund invests part of its assets in RMB denominated money market and debt instruments

You are advised to read the MPF Scheme Brochure and the relevant marketing materials of the Scheme for further details including risk factors prior to making any investment decision