MPF Calculator | Know Your Financial Gap - Convoy
Convoy provides free online MPF calculator which allows you to instantly know your financial gap and access whether MPF can meet your retirement need. Contact our professional financial consultants for an all-round retirement plan.
The MPF Hong Kong is a retirement scheme mandatory for all the citizens of Hong Kong. We at convoy have developed an online MPF calculators to calculate whether your financial needs can be met by the MPF. This calculator instantly tells about your financial gap and access whether MPF can meet your retirement need. This calculator is for projecting MPF accrued benefits and needed retirement funds to facilitate the user’s retirement planning and show the impact of different variables on the accrued benefits and needed retirement funds.
Meet Your Retirement Goals
MPF calculators help to meet your retirement goals with keeping in consideration your current financial conditions like your monthly income then your monthly voluntary contribution. The calculation we adopt in convoy is based on standard assumptions and other hypothetical data and variables as needed. To know how your retirement goals can be met calculations, you can follow the following steps and know your results.
Calculate Your Retirement Goals
Firstly, you need to need to fill in your personal details like your gender and the current age since that will the time from where your calculations will begin then comes the expected retirement age which depends on the individual and even the company’s policy in which the individual is working. The last slot of the first tab is the life expectancy since this is highly uncertain but still can be judged according to the diseases he is suffering from and other factors which is totally dependent on the individual’s personal view.
The second tab asks the individual to fill in the most general and basic information that is the monthly expenditure so that an estimate can be made as in how much he can pay for the MPF.
Then comes the option of expected inflation rate as in what would be the inflation rate since it would affect the amount that the individual will receive at the end.
The last tab asks the other more relevant and important information like how much an individual earns monthly that is the monthly income then there is an important slot of monthly monetary contribution as in how much amount an individual pays in a month voluntarily.
In case the individual already has some MPF balances then the MPF calculators ask for the information of the MPF balance an individual might have. The last slot is the expected annual investment return of MPF in percentage form.
Maximize Your Results with Convoy MPF calculator
After filling in all the details required the shows two important results, firstly it will show the retirement gap that exists between retirement goals that are set and how is it met by the accrued MPF benefits. The second important result that is unique to this MPF calculators we use is it tells how the gap can be filled between the goals and the benefits. The MPF calculators then even act as a guide since it guides and suggests the way the gap can be bridged. Like it can suggest that an individual can save a certain amount of money. It even suggests alternatives to the first solution.
Thus, MPF calculators are a revolutionary idea, and it makes the work of the clients very easy, and the clients can avail the maximum benefit by calculating it and even getting the suggestions. Though the result generated by MPF calculators are only for illustrative proposes but can’t really be used for professional investment advice. The result of the needed retirement fund calculated by the calculator may be different from the reality of the individual retirement needs. The actual amount of the MPF benefits depends upon the amount and the duration of the contribution, the fees and the charges paid, the actual MPF investment returns. It could differ from company to company. We at convoy global holdings limited work to provide you the best suggestion how to bridge the gap between retirement goals and the MPF benefits.
This is a calculator for projecting MPF accrued benefits and needed retirement funds to facilitate the user’s retirement planning and to demonstrate the impact of different variables on the accrued benefits and needed retirement funds.
The calculation is based on the standardized assumptions, and other hypothetical data and individual variable(s) input by the user.
The results generated by this calculator are for illustrative purposes only and not intended to be a substitute for professional investment advice. The results may differ from other similar calculators when different assumptions are adopted. The results do not represent, or promise, the actual amount of the MPF accrued benefits the user will receive at retirement. The result of needed retirement fund may be different with the reality need. The actual amount of the MPF benefits will depend on, among other things, the amount and duration of contributions, the actual MPF investment returns, fees and charges paid and other personal and external factors. It could be different from the projected results.
Convoy Global Holdings Limited and its subsidiaries shall not be liable for any human or mechanical errors or omissions in or any reliance placed upon the projected results. Convoy Global Holdings Limited and its subsidiaries shall not be liable for the consequences of any decision or action taken upon or as a result of the information provided by the above calculator.
Remarks: The dollar amounts in the calculator are in Hong Kong dollar