- General Switching Arrangements
- Feature comparison of FRMT and RCM Plan
- Further information of FRMT and RCM Plan
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| (A) |
General Switching Arrangements
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On 1 May 2007, RCM MPF Plan (RCM Plan) (formerly known as Allianz Global Investors MPF Plan) was introduced, in addition to the existing Fidelity Retirement Master Trust (FRMT), as another MPF scheme for choice by members.
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MPF members may switch from FRMT to RCM Plan or vice versa on either 1 st April or
1 st October, for not more than once every calendar year.
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New appointees who were given the choice between FRMT and RCM Plan when he/she first enrolled into the University's MPF scheme may switch scheme starting from next calendar year of enrolment.
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Upon switching, membership in the existing MPF scheme will be terminated and all the MPF benefit accrued under member's current employment with the University will be transferred to the newly switched MPF scheme.
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Members who elect to switch between the two MPF schemes viz. FRMT and RCM Plan should follow the below steps:
Read and understand the Timeline and Information Concerning change of MPF scheme.
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Complete the Election Form ¡V Change of MPF Scheme
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Complete the Membership Enrolment Form for the new MPF scheme
(FRMT or RCM Plan)
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Return the completed forms in step 5b and 5c above to the Payroll & Superannuation Unit of Bursary by the prescribed closing date.
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It should be noted that members can have their membership and MPF benefits in one MPF scheme only, at any one time during their employment at the University. Contribution amounts and arrangements will be the same for both MPF schemes.
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For further information, please refer to the FAQ section on Proposed to add a new MPF Service Provider and Change of MPF scheme.
- For enquiry, please contact the Payroll & Superannuation Unit of Bursary at 2609-7246 or 2609-7251.
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| (B) |
Feature comparison of FRMT and RCM Plan
MPF service provider
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RCM |
Fidelity |
MPF plan |
RCM MPF Plan (RCM Plan) (4) |
Fidelity Retirement Master Trust (FRMT) |
Type of firm |
A fund management company |
A fund management company |
Name brand and financial strength |
- Company profile increased in recent years in fund management industry
- Relatively low in name recognition |
- Strong global brand
- Over US$1 trillion in assets under management globally |
Investment managers |
RCM, manager within AGI group |
Fidelity |
Administrator |
HSBC Institutional Trust Services (Asia) Limited |
HSBC Institutional Trust Services ( Asia) Limited |
MPF assets size (HK$m) |
2,550 (2) |
12,324 (3) |
No. of MPF members |
31,882 (2) |
over 200,000 (3) |
Products range |
- 8 fund choices
- Includes 4 lifestyle funds |
- 19 fund choices
- Includes 4 lifestyle funds
- Introduced 5 SaveEasy Funds in 2008 |
Investment capabilities and approach |
- Global network with 200 investment professionals
- Research-driven equities approach |
Portfolio manager is the key decision makers in stock selection |
Investment performance
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Please refer to Investment Performance of our MPF website for latest information. |
Please refer to Investment Performance of our MPF website for latest information. |
Investment risk |
Above-median risk in general |
Lower-than-median risk in general |
Fees |
- CPF: 0.83% p.a. (transfer-in assets) and 1.03% p.a. (future contributions)
- Other funds: 1.18% p.a. (transfer-in assets) and 1.33% p.a. (future contributions) |
- CPF: 1.21% p.a. (transfer-in assets) and 1.36% p.a. (future contributions)
- Other funds: 1.42% - 1.62% p.a. (transfer-in assets) and 1.57% - 1.77% p.a. (future contributions) |
Note:
- Both providers give similar membership services.
- Both providers gave similar net return on Capital Preservation Fund for all periods.
Sources:
(1) Mercer Investment Consulting, MPF Provider Selection Report ( August 2006)
(2) RCM Asia Pacific Ltd (December 2007)
(3) Fidelity Investments Management (Hong Kong) Limited (December 2007)
(4) Formerly known as Allianz Global Investors MPF Plan
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| (C) |
Further information of FRMT and RCM Plan
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