Member Benefit Statement Principal MPF Scheme Series 800

    The Glossary

    Terms Description
    Account Gain / (Loss) Dollar value of overall investment return of a member's account in a scheme during the financial / reporting period. The figure represents the change in value of the account balance during the financial / reporting period after netting off fund transactions like contributions and transfers during the year / period.
    Closing Balance Dollar value of the MPF accounts of a scheme member as at the end of the financial / reporting period.
    Contributions from current employment Contributions paid to a scheme under the current term of employment.
    Contributions from former employment Contributions paid to a scheme from former employment excluding contributions in preserved account.
    Credit Credit is the dollar value of units of funds credited into scheme member’s accounts by way of bonus unit during the financial period.
    Miscellaneous Adjustments Adjustment made to the figures after the financial year-end date of the scheme or adjustments made within the financial period.
    Opening Balance Dollar value of the closing balance of the MPF accounts of a scheme member as at the end of last financial / reporting period.
    Switch-in to Fund Amount moved out of a fund that is invested in another fund in the same scheme during the financial / reporting period.
    Switch-out of Fund Amount received from the redemption of units of a fund that is moved from one fund to another fund in the same scheme during the financial / reporting period.
    Total Contributions Total contributions paid to a scheme during the financial / reporting period and invested into funds.
    Total Fees Charged to Your Account This refers to member account level fees and expenses that are incurred directly by the member at the member account level. It is part of the management fee charged by way of unit deduction. It does not include fees paid out of the funds to trustees, investment managers, and other service providers for services provided to the funds or costs incurred investing into other funds.
    Transfer-in to Scheme Amount moved to a scheme during the financial / reporting period invested into funds.
    Transfer-out of Scheme Amount moved out of a scheme to another registered scheme during the financial / reporting period or dollar value of proceeds from the redemption of units of funds withdrawn by scheme member during the financial period.
    Unit Deduction Method of charging fees to the scheme members by reducing the number of units held by the scheme members.
    Unvested Benefits Dollar value of MPF account balances not yet accrued to a scheme member according to the governing rules of the scheme, usually referring to the benefits derived from employer’s voluntary contributions to which the member is not entitled.
    Vested Benefits Dollar value of MPF account balances accrued to a scheme member according to the governing rules of the scheme.
    Vested Percentage A percentage of benefits derived from employer’s voluntary contributions accrued to a scheme member according to the governing rules of the scheme. It usually relates to the year of services counted from the member’s date of employment or date of joining the scheme.