The following is issued on behalf of the Hong Kong Monetary Authority:

     The Hong Kong Mortgage Corporation Limited (HKMC) has been collaborating with various institutions to promote the "HKMC Retire 3" and the development of the retirement planning market. The HKMC announced today (July 20) a further expansion of its existing referral network for the "HKMC Retire 3", authorising tied agency force at BOC Group Life Assurance Company Limited (BOC Life) to refer the "HKMC Retire 3", including the Reverse Mortgage Programme (RMP), the Policy Reverse Mortgage Programme (PRMP) and the HKMC Annuity Plan (Note), to their eligible customers.

     Executive Director and the Chief Executive Officer of the HKMC, Mr Colin Pou, said, "The HKMC is grateful for the support from BOC Life, which enables more customers to learn about the 'HKMC Retire 3'. Over the years, these products have provided Hong Kong citizens with effective retirement planning solutions for generating lifelong payouts and enhancing the quality of their retirement lives. In the future, we will continue to work closely with various institutions in stepping up the promotion of the 'HKMC Retire 3' and assisting Hong Kong citizens in retirement financial planning."

     The "HKMC Retire 3" can help Hong Kong citizens manage longevity risks by turning their residential properties, life insurance policies and savings into lifelong, stable income. For details of individual products and the respective list of authorised referral institutions, please visit the HKMC website (www.hkmc.com.hk) and the HKMC Annuity Limited (HKMCA) website (www.hkmca.hk).

Note: The RMP and the PRMP are operated by the HKMC Insurance Limited (HKMCI), and the HKMC Annuity Plan is underwritten by the HKMCA. The HKMCI and the HKMCA are wholly-owned subsidiaries of the HKMC.

Ends/Monday, July 20, 2026
Issued at HKT 16:00

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