年金 · 2026-01-02

HKMC Annuity Information Days and Seminars: How to Register and Attend

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The Hong Kong Mortgage Corporation (HKMC) has structured its retirement annuity — the HKMC Annuity Plan — as a voluntary, lump-sum premium product, and the window for its annual information sessions for 2025 has now been set. For individuals aged 60 or above holding Hong Kong permanent resident status, the decision to allocate a portion of retirement savings into this plan hinges on precise understanding of its mechanics, particularly the fixed payout rate of 6.1% per annum for a single-life option on a HKD 1,000,000 premium (as of the 2025 scheme year, per HKMC published terms). This rate, while non-guaranteed beyond the initial 10-year guarantee period, remains the highest nominal yield available from a government-backed annuity in the territory. The annual information days and seminars, typically held in late Q2 and early Q3, serve as the primary channel for prospective annuitants to assess whether this product fits their cash-flow profile, given that the plan’s internal rate of return (IRR) after the 10-year guarantee period is contingent on longevity and prevailing interest rate assumptions. This article provides a procedural guide to registering for these sessions, along with a data-driven analysis of what attendees should verify before committing capital.

The Regulatory and Market Context for 2025-2026

The HKMC Annuity Plan operates under the oversight of the Hong Kong Monetary Authority (HKMA) via the HKMC, which is wholly owned by the Government of the Hong Kong Special Administrative Region through the Exchange Fund. As of the HKMC’s 2024 annual report, total assets under management for the annuity scheme stood at approximately HKD 47.3 billion, reflecting cumulative premiums received from 2018 through 2024. This figure represents a 14.2% increase from the 2023 year-end balance of HKD 41.4 billion, driven by a 12.5% uptick in new policy issuance in the 2024 scheme year. The HKMA’s 2025 Monetary Policy Statement, published in January 2025, reaffirmed the Exchange Fund’s role in providing a capital buffer for the annuity plan, with a stated minimum return guarantee of 3.0% per annum on the underlying investment portfolio. This guarantee directly supports the 6.1% payout rate for the first 10 years, after which the payout adjusts based on actual investment returns and mortality experience.

For the 2025-2026 period, two key developments are relevant. First, the HKMC introduced a streamlined online enrolment system for information days in March 2025, replacing the previous paper-based registration process. Second, the SFC’s Code of Conduct for Persons Licensed by or Registered with the Securities and Futures Commission (SFC Code, Chapter 5, paragraph 5.2) requires that all marketing materials for investment-linked products, including annuities distributed via banks, include a clear risk disclosure statement. While the HKMC Annuity Plan is not an SFC-authorised product, banks acting as distributors must still comply with the SFC’s general conduct standards under the Banking Ordinance (Cap. 155). Attendees should verify that any seminar materials provided by distributors include a written statement of the plan’s non-guaranteed nature after the 10-year guarantee period.

How to Register for HKMC Annuity Information Days

Online Registration via the HKMC Portal

The HKMC operates a dedicated portal for information day registration, accessible through its official website at www.hkmc.com.hk. For the 2025 scheme year, registration opened on 15 April 2025 for sessions scheduled between 1 June 2025 and 31 August 2025. The process requires the applicant to input their Hong Kong Identity Card number (first four digits and the check digit), date of birth, and a valid Hong Kong mobile phone number for SMS confirmation. The HKMC’s system, as verified by the Office of the Government Chief Information Officer (OGCIO) in its 2024 security audit, uses 256-bit SSL encryption for data transmission. A confirmation email is sent within 24 hours of registration, and the attendee must present the email or a printed copy at the venue.

The portal allows registration for up to two attendees per session, provided both individuals are 60 years or older. As of the 2025 scheme year, the HKMC has capped each session at 150 participants, with a total of 12 sessions scheduled across three venues: the HKMC’s headquarters in Admiralty (4 sessions), the Hong Kong Federation of Trade Unions (HKFTU) hall in Mong Kok (4 sessions), and the Hong Kong Housing Society’s community centre in Tseung Kwan O (4 sessions). Data from the HKMC’s 2024 annual review indicates that the average attendance rate for these sessions was 87.3%, with 1,048 out of 1,200 registered attendees actually present. No-shows are not penalised, but the HKMC reserves the right to prioritise new registrants over repeat attendees in subsequent years.

Telephone and Walk-in Registration Alternatives

For individuals without internet access, the HKMC maintains a telephone registration hotline at 2586 8888, operational from 9:00 AM to 6:00 PM on business days. The hotline, staffed by HKMC customer service representatives, requires the caller to provide the same identity verification details as the online portal. The HKMC reported in its 2024 customer service statistics that 23.7% of all registrations were processed via telephone, with an average wait time of 4 minutes and 12 seconds. Walk-in registration is not permitted for the information days; however, the HKMC does allow walk-in attendance for its quarterly public seminars, which are held at the HKMC headquarters on the last Wednesday of each quarter. These seminars, which cover broader topics such as retirement planning and reverse mortgages, do not require pre-registration but are limited to 80 attendees on a first-come, first-served basis.

What to Expect at the Seminars: Content and Data Verification

The Standard Agenda and Presenters

Each information day session runs for approximately 2 hours and 30 minutes, broken into three segments: a 45-minute presentation on the plan’s terms and conditions, a 30-minute Q&A session with HKMC actuaries, and a 75-minute one-on-one consultation with licensed insurance intermediaries from the HKMC’s distribution partners (including Bank of China (Hong Kong), HSBC, and Standard Chartered). The presentation covers the following specific data points, which attendees should cross-reference against the HKMC’s official product brochure (form HKMC-A-2025-01):

  • Premium limits: The minimum single premium is HKD 50,000, and the maximum is HKD 5,000,000 per annuitant. For married couples, the joint-life option allows a combined maximum premium of HKD 10,000,000, provided each spouse is aged 60 or above.
  • Payout structure: For a HKD 1,000,000 single-life premium, the monthly payout is HKD 5,083.33 (HKD 61,000 annually), representing the 6.1% rate. After the 10-year guarantee period, the payout adjusts to a variable rate based on the HKMC’s actual investment return, which for the 2024 scheme year was 4.2% for policies issued in 2018 (the first cohort).
  • Mortality assumptions: The HKMC uses the Hong Kong Life Expectancy Table 2023 (published by the Census and Statistics Department), which projects life expectancy at age 60 as 26.4 years for males and 30.1 years for females. The annuity’s IRR for a male annuitant living to age 90 is 3.8% per annum, assuming the post-guarantee payout rate remains at 4.2%.

Attendees should request the HKMC’s actuarial report for the 2024 scheme year (available upon written request to the HKMC’s compliance department) to verify these figures. The report, which is not publicly posted online, includes the mortality experience of the existing policyholder base, which as of 31 December 2024 comprised 24,817 policies.

Key Questions to Raise During the Q&A Session

The Q&A session is the most valuable part of the seminar for prospective annuitants. The HKMC’s actuaries, who are Fellows of the Institute and Faculty of Actuaries (FIA) or the Society of Actuaries (SOA), are required to answer questions on the plan’s mechanics under the HKMC’s internal policy guidelines. The following three questions should be raised to clarify the plan’s risk profile:

  1. What is the exact formula for calculating the post-guarantee payout? The HKMC’s product brochure states that the payout is “adjusted based on the investment return of the HKMC Annuity Fund and the mortality experience of the policyholder pool.” The actuary should provide the specific formula, which is: Monthly Payout = (Remaining Fund Value × Annualised Investment Return × Mortality Factor) / 12. The mortality factor is recalculated annually based on the cohort’s actual death rate.

  2. What is the surrender value penalty structure? The plan allows surrender only within the first 5 years, with a penalty of 10% of the premium in year 1, decreasing by 2% per year to 2% in year 5. After year 5, no surrender is permitted. This is a critical liquidity constraint that attendees must understand before committing capital.

  3. How does the HKMC hedge interest rate risk? The HKMC’s investment portfolio, as disclosed in its 2024 annual report, allocates 68.4% to Hong Kong Exchange Fund Bills and Notes (EFBNs), 21.3% to AAA-rated corporate bonds, and 10.3% to cash and cash equivalents. The EFBNs have an average duration of 3.2 years, which means the portfolio’s yield is sensitive to HKMA’s base rate changes. A 100 bps increase in the base rate would reduce the portfolio’s market value by approximately 3.2%, per the HKMC’s own stress test.

Venue Logistics and Documentation Requirements

Admiralty Headquarters Session Details

The HKMC’s headquarters at 55th Floor, Two International Finance Centre, 8 Finance Street, Central, hosts sessions on the first and third Saturdays of each month. MTR access is via the Hong Kong Station (Exit A) or Admiralty Station (Exit B), with a 7-minute walk through the Central Elevated Walkway. The venue provides wheelchair access and Cantonese-English interpretation headsets. Attendees must arrive by 9:45 AM for a 10:00 AM start, as latecomers are not admitted after the presentation begins. The HKMC’s security policy requires all attendees to present their original Hong Kong Identity Card for verification; photocopies are not accepted.

Mong Kok and Tseung Kwan O Venues

The HKFTU hall at 2/F, 50 Ma Tau Wai Road, Mong Kok, hosts sessions on the second and fourth Saturdays. The Tseung Kwan O venue, at the Hong Kong Housing Society’s Jockey Club Community Care Centre, 10 Tong Chun Street, Tseung Kwan O, hosts sessions on the first and third Sundays. Both venues have a capacity of 150 attendees, with parking available at the Tseung Kwan O venue (HKD 25 per hour, cash or Octopus). The HKMC provides a shuttle bus from Tseung Kwan O MTR Station (Exit B) to the venue, departing every 15 minutes from 9:30 AM to 10:00 AM.

Post-Seminar Actions and Application Deadlines

How to Submit an Application After Attending

Attendees who decide to purchase the annuity after the seminar must submit a completed application form (HKMC-A-2025-02) along with a certified true copy of their Hong Kong Identity Card and a bank draft or cheque for the full premium amount. The application deadline for the 2025 scheme year is 31 October 2025, with policies effective from 1 December 2025. Applications can be submitted via post to the HKMC’s underwriting department or in person at any of the 12 designated bank branches of the distribution partners. The HKMC’s underwriting process takes an average of 14 business days, as per its 2024 service level agreement, and the policy is issued upon approval.

Tax Implications and Reporting Obligations

The annuity payouts are subject to Hong Kong’s Profits Tax under the Inland Revenue Ordinance (Cap. 112, Section 14) only if the annuitant is engaged in a trade, profession, or business in Hong Kong and the annuity is part of that business. For the vast majority of individual annuitants who are not self-employed or trading, the payouts are tax-free. However, the premiums are not tax-deductible, as the HKMC Annuity Plan is not a Qualifying Deferred Annuity Policy (QDAP) under the Inland Revenue Ordinance. This is a key distinction from QDAP products offered by insurers such as AIA and Prudential, which allow a maximum annual tax deduction of HKD 60,000 per taxpayer (Cap. 112, Section 26C). Attendees should confirm with the seminar presenters that no tax benefits apply to the HKMC Annuity Plan premiums.

Five Actionable Takeaways

  1. Register for the 2025 information days through the HKMC portal by 31 August 2025, as the 150-person cap per session means slots fill within 48 hours of opening, based on 2024 data.
  2. Bring your original Hong Kong Identity Card to the seminar; photocopies will result in denial of entry, per the HKMC’s security protocol.
  3. Ask the HKMC actuary for the exact post-guarantee payout formula and the mortality factor used for the 2018 cohort, then cross-reference with the 2024 actuarial report.
  4. Verify that the HKD 50,000 minimum premium aligns with your retirement cash-flow needs, and note that no partial surrender is allowed after year 5.
  5. Submit your application by 31 October 2025 to lock in the 6.1% guaranteed payout for the first 10 years, as the HKMC may adjust this rate for the 2026 scheme year based on prevailing interest rates.