The Hong Kong Mortgage Corporation Limited announced a further expansion of the referral network for HKMC Retire 3, authorising the tied agency force at BOC Group Life Assurance Company Limited to refer the offering to eligible customers. The expansion extends distribution of the retirement planning package through BOC Life's tied agents rather than changing the underlying products. HKMC Retire 3 comprises the Reverse Mortgage Programme, the Policy Reverse Mortgage Programme and the HKMC Annuity Plan. The corporation said the products are designed to help Hong Kong citizens manage longevity risk by converting residential properties, life insurance policies and savings into lifelong, stable income. The Reverse Mortgage Programme and Policy Reverse Mortgage Programme are operated by HKMC Insurance Limited, while the HKMC Annuity Plan is underwritten by HKMC Annuity Limited, both wholly owned subsidiaries of the Hong Kong Mortgage Corporation.
Hong Kong Monetary Authority2026-07-20
Hong Kong Mortgage Corporation expands HKMC Retire 3 referral network to BOC Life tied agents
The Hong Kong Mortgage Corporation Limited has expanded the referral network for HKMC Retire 3 by authorising BOC Life's tied agency force to refer the products to eligible customers. HKMC Retire 3 includes the Reverse Mortgage Programme, the Policy Reverse Mortgage Programme and the HKMC Annuity Plan, which are intended to convert assets into lifelong retirement income.