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July 14, 2018
Lin Guanliang
MPF
The HKMA announced last year that its underlying mortgage company is studying the public annuity plan, giving pensioners in Hong Kong an option, the author also Some comments have been made in this column. Long awaited, a public annuity called "Hong Kong Annuity Plan" was officially launched on July 9th. She will be available for eligible candidates on July 19 and will also come to Dawn to help with advertising, but readers want to insure this Hong Kong annuity. Before planning, you should not consider the following points in detail.
Different from General Annuity Products
Annuity is one of the insurance products generally available after the insured has provided the specified amount of insurance, such as the monthly withdrawals, up to the amount of the guarantee. Or the payment period. An annuity in Hong Kong is a lifetime annuity of a lump sum premium (that is, the single payment of an applicant) After the payment of the premium, the insured will receive a fixed amount of money each month for life. As long as he is a permanent resident of Hong Kong, you can apply to 65 years old without physical examination, at least 50,000 yuan, up to 1 million yuan. For example, a 65-year-old man pays $ 1 million and can withdraw $ 5,800 a month until he dies. If the candidate unfortunately dies two months after participating in the program, the withdrawal amount is reduced by the guarantee period and the balance is paid to the beneficiary. The guaranteed amount of the Hong Kong annuity is 105% of the premium paid.
To allocate funds to
to buy or buy, depending on individual capabilities and needs, carefully calculate the distribution. For example, when you retire at age 65, you have already recovered an MPF, as well as savings or other investments. You must first calculate monthly expenses and emergency preparedness .Suppose that the plaintiff has 2 million yuan and spends 10,000 per month. Yuan, can keep half a year of spending 60,000 yuan for emergency use, and then retain 5,000 yuan a month, a total of 15 years is 900,000 yuan of expenditure, with 870,000 yuan to buy Hong Kong annuity , monthly income of 5.046 yuan, more before saving The monthly reserve of 5,000 yuan is 10046 yuan a month. When I was about 81 years old, I had to live on a rent of 5,046 yuan a month for the rest of my life because my savings were exhausted. Compared to the purchase of an annuity, only 2 million yuan savings for living expenses, 10,000 yuan a month, can only be maintained for 16.6 years, c & 39; that is to say that 81 years will not be able to continue. The calculations above do not take into account inflation and other sudden expenses, so that applicants take into account their personal situation and their needs.
The trend of interest rates does not affect returns
Hong Kong annuity yield guarantee of 105%, the internal rate of return is 4%. A friend asked if it is equal to 4% per year If the interest rate rises, is it more flexible to use money as term deposit? This comparison is not appropriate because the internal yield is not the interest rate, which is the discount rate when the net present value (NPV) equals zero, that is, equal to the total present value. Therefore, rising and falling market interest rates do not affect the amount of annuity payments. In addition, the current bank deposit interest should be added to 4%, I believe that it will not appear in the short term. On the contrary, it is recommended that if this friend has the ability and money, in addition to buying the Hong Kong annuity, he can also buy low-risk, high-interest shares in the market for the collection of interests. If the reader wants to calculate how much annuity will be spent on the annuity company's website, enter the age, gender and amount of the purchase.
Early retirements are rejected
This public pension is under the supervision of the Hong Kong Annuity Company of the Mortgage Corporation and is sold by the big banks, which is covered by the government and avoids competition with the companies. Local insurance. Because there are more than ten annuity schemes on the market, the government can avoid direct competition with insurance companies, and the second is the bottom of the government, do not be afraid of bankruptcy . However, as the author proposed last year, the open competition is the blessing of the family.
Since the plan only applies to persons 65 years of age and over, even though long-term food has certain life guarantees as another pillar of retirement, but this age limit does not benefit youth. Can go on the commercial market. As a pillar of retirement, the MPF is not enough, and the Hong Kong annuity is an option for those who have the ability.If the accumulation or accumulation of funds is low, the annuity that can be bought is also a drop in the ocean.
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