Rongchai Wang
Aug 07, 2026 04:39
HKMC Annuity Restricted companions with BOC Life to broaden entry to its retirement-focused annuity plan, reinforcing its function in Hong Kong’s public finance technique.
HKMC Annuity Restricted (HKMCA), a subsidiary of The Hong Kong Mortgage Company Restricted (HKMC), introduced a brand new partnership with BOC Group Life Assurance Firm Restricted (BOC Life) on August 7, 2026. This collaboration authorizes licensed insurance coverage intermediaries of BOC Life to introduce the HKMC Annuity Plan to their clients and refer eligible people to HKMCA. The aim: increase public entry to retirement earnings options.
“The HKMCA is dedicated to growing the native annuity market,” mentioned Mr. Daniel Leong, Government Director and CEO of HKMCA. “This collaboration with BOC Life permits a larger variety of intermediaries to assist the general public higher perceive the essential function the HKMC Annuity Plan performs in retirement planning.” He added that the initiative aligns with HKMCA’s mission to assist long-term, sustainable retirement objectives in Hong Kong.
The HKMC Annuity Plan, launched in 2018, is a government-backed life annuity scheme designed to transform a lump-sum premium into assured month-to-month earnings for retirees. This system enhances Hong Kong’s Obligatory Provident Fund (MPF) and personal insurance coverage choices, strengthening retirement earnings safety. HKMC Annuity Restricted operates as a part of HKMC Group, which is owned by the Hong Kong SAR Authorities by the Alternate Fund.
This new referral partnership with BOC Life represents a technique to deepen market penetration. By leveraging BOC Life’s community of insurance coverage intermediaries, HKMCA goals to succeed in a broader viewers, notably retirees searching for secure, long-term earnings streams. In line with HKMC’s 2024 Alternate Fund disclosures, HKMCA is capitalized at HK$12.5 billion, underscoring its function as a public monetary establishment reasonably than a commercially-oriented entity.
The partnership comes amid rising recognition of annuities as a obligatory device for retirement planning. With Hong Kong’s ageing inhabitants and longer life expectations, the demand for predictable retirement earnings is rising. By collaborating with a serious participant like BOC Life, HKMCA strengthens its capacity to deal with these demographic shifts whereas reinforcing its mandate to reinforce monetary stability in Hong Kong.
For extra data or to confirm the id of approved insurance coverage intermediaries, people can contact HKMCA’s customer support hotline at (852) 2512 5000.
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