Retirement Trio / Self-made Longevity Income Calculator

The market label “retirement trio” usually means the HKMC Annuity Plan, the Reverse Mortgage Programme and the Policy Reverse Mortgage Programme. They are not the same product. The annuity is insurance: a lump-sum premium for a lifetime monthly amount. The two reverse-mortgage plans are HKMC Insurance Limited loans. Monthly draws accrue interest. They are not rent or wages. This page only compares official quotations with living costs. It will not turn a property value or premium into a payout.

HK Annuity Plan is generally for Hong Kong permanent residents aged 60 or above, with a single premium of about HK$50,000 to HK$5,000,000. The guaranteed monthly amount depends on age, sex and the terms then in force. Reverse mortgage is generally for people aged 55 or above with a valid Hong Kong identity card; an unexpired subsidised-sale flat generally needs age 60. The property must be a Hong Kong home, held in a qualifying way, usually 50 years old or less, and not let.

Policy reverse mortgage is also generally from age 55. The life policy must be paid up, in Hong Kong or US dollars, owned and insured by the borrower, and not investment-linked. A monthly draw is a loan, not a surrender. Quotations are nominal and are not inflated with expenses. Locked MPF before the access age should not be treated as cash in hand.

Get the official HKMC Annuity and HKMC Insurance calculators first, then weigh liquidity, estate and inflation. Annuity premium is hard to use as emergency cash. Reverse mortgage usually lets you stay, but the loan is recovered from the property or the estate when it ends. The institutions’ approval remains decisive.