How Does DIS Affect You?
- You HAVE NOT given investment instruction
Your MPF assets may be affected. If you are under or become 60 years old on the Effective Date (or we are not aware of your date of birth), you should have received the "DIS Re-investment Notice" (“DRN”) within 6 months of the Effective Date. If you did not respond within 42 days of the date of the DRN, your MPF assets would be invested according to the DIS. - You are NOT SURE if you have given investment instruction
You should contact us as soon as possible to review your MPF investment instructions, and verify personal details (especially your address) to ensure you can receive important information from us. - You HAVE GIVEN investment instruction
In general, you would not receive the “DIS Re-investment Notice”. We will continue to invest according to the investment instruction you have given.
However, there are some exceptions. For example, the future contributions in some cases may also be redirected to DIS although you have given investment instruction before.
If you are not sure which situation you are in, please contact us.
Point to Note on De-risking Process
If one or more of the specified fund switching instruction(s) is / are being processed on the annual date of de-risking, the annual de-risking will only take place on the next dealing day upon the completion of these instructions where necessary. You should note that the annual de-risking may be postponed as a result.
Notice Distribution Schedule and "Opt-out" Arrangement
| Name of Notice | Target | Send Out Time |
|---|---|---|
| DIS Pre-Implementation Notice (“DPN”) & Important Note | All members | December 2016 to January 2017 |
| DIS Re-Investment Notice ("DRN") | Relevant members | 20 April 2017 |
Members who HAVE NOT given any investment instruction would receive the "DIS Re-investment Notice" ("DRN"). If the relevant members do not agree to accept the new arrangement, they need to opt-out by replying to BCT. If no reply is given within 42 days of the date of the "DIS Re-investment Notice", any MPF assets already accumulated, future contributions and MPFs transferred from another scheme in the future would be invested in accordance with the DIS.
Relevant members have until "Due Date" (i.e. 42 days after the date of the DRN) to give instruction in response to the DRN. If they want to stay invested in the original default fund, they must respond to the DRN through the following "authorized" channels, so that relevant instruction is received by us before the following cut-off times on the Due Date. Channels other than those set out below are not authorized for DIS purposes and submitting the instruction through unauthorized channels (e.g. via e-mail, intermediaries or bank branches) is generally not acceptable (although the trustee may, on a case basis, choose to accept and process such instruction based on the actual time of receipt by the trustee).
| Authorized Channels for DIS Purpose | Cut-off Time on the Due Date |
|---|---|
| By post / In person (for instruction given by way of the attached Option 2 Form) | 6:00 pm on the Due Date. Please make sure that sufficient time is allowed for postage (if applicable), so that the completed option 2 form can be received by Bank Consortium Trust Company Limited before the above cut-off time. |
| Fax (for instruction given by way of the attached Option 2 Form) | 23:59:59 pm on the Due Date |
| BCT website / BCT mobile apps (for instruction given via such website / apps) | 23:59:59 pm on the Due Date |
