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The Mandatory Provident Fund Schemes Authority (MPFA) has issued four sets of guidelines concerning the interface arrangement of occupational retirement schemes with the Mandatory Provident Fund system (ORSO Interface guidelines).

"These guidelines will facilitate employers with qualified ORSO schemes to consider whether or not to seek MPF exemption and to proceed with the necessary arrangement," a MPFA spokesman said today (Tuesday).

The ORSO Interface guidelines are:

(a) Guidelines on MPF Exempted ORSO Schemes - Application for Exemption of ORSO Exempted Schemes;

(b) Guidelines on MPF Exempted ORSO Schemes - Application for Exemption of ORSO Registered Schemes;

(c) Guidelines on MPF Exempted ORSO Schemes - Treatment of Accrued Rights of Existing Members who join MPF Schemes; and

(d) Guidelines on MPF Exempted ORSO Schemes - Preservation of Benefits.

The spokesman said that the guidelines had been distributed to The Hong Kong Federation of Insurers, Hong Kong Investment Funds Association, Hong Kong Trustees' Association Limited, the Actuarial Society of Hong Kong, Hong Kong Bar Association, the Hong Kong Capital Markets Association and the Hong Kong Retirement Scheme Association.

Service providers are encouraged to obtain relevant guidelines from their own associations. Hard copies may also be obtained at the office of the MPFA at Suites 1407-09, One Pacific Place, 88 Queensway, Hong Kong.

(Note: ORSO Schemes refer to Schemes governed by the Occupational Retirement Schemes Ordinance.)

End/Tuesday, April 27, 1999

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