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Welcome to the MPF calculator. This is a simplified model that will give
you a rough idea of your projected retirement benefits at age 65.
This illustration is a basic mathematical
model and yield rough estimates only. It does not reflect all possible
variables which may affect results. It is not intended to reflect or
guarantee any specific investment offered by AXA China Region.
Projected Retirement Amount at today's value
A dollar today may not be equal to a dollar tomorrow, it depends on the rate of inflation. We have used the inflation of 3% p.a. to calculate the present value of your projected benefit. You may also select another inflation rate
% to estimate the result again.
Inflation
Inflation is the rise in the price of goods and services
over time.
Even a gentle annual increase in prices
will affect the 'purchasing power' of our dollars. In other words, if
prices are rising steadily, after a number of years, we will be able
to afford to buy significantly fewer goods and services. Many people
forget about inflation when calculating retirement goals, but it is
an important aspect. If there were no inflation over the next 10 years,
HK$100,000 would still be worth HK$100,000, but with 3% inflation HK$100,000
could buy goods worth only HK$74,409.
The historic CPI in Hong Kong since 1989 has an average of
7.72%p.a.
Desired Retirement benefits you may need
On average most retirees at age 65 will live
another 15 years. And if you are like most people who want to maintain
their present life style in retirement, you will need an annual income
of about 65% of what you are currently earning. Based on these assumption,
we have worked out the amount you need for retirement.
So while you may not be able to save enough
for your retirement under MPF, you may need to start thinking on contributing
more voluntarily or have additional investment through some other means.
You are advised to seek professional help on your personal retirement
planning.
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