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The Mandatory Provident Fund Schemes Authority (MPFA) has issued 15 sets of guidelines concerning licensing, reporting requirements, scheme operations and ORSO interface.

The guidelines include -

Licensing

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* Guidelines on Central Securities Depositories;

Reporting Requirements

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* Guidelines on Monthly Returns of Registered Schemes;

* Guidelines on Monthly Returns of Approved Pooled Investment Funds being Capital Preservation Funds;

* Guidelines on Quarterly Returns of Constituent Funds;

* Guidelines on Annual Statements of Registered Schemes;

* Guidelines on Annual Statements of Approved Pooled Investment Funds;

* Guidelines on Internal Control Report for Each Registered Scheme;

Scheme Operations

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* Guidelines on Disclosure of Annual Fees;

* Guidelines on Reports Relating to Payment of Mandatory Contributions;

* Guidelines on Election Forms for Transfer of Accrued Benefits;

* Guidelines on Payment of Accrued Benefits - Documents to be Submitted to Approved Trustees;

* Guidelines on Payment of Accrued Benefits - Permanent Departure from Hong Kong;

* Guidelines on Notice for Unclaimed Benefits;

* Guidelines on Fees for Portability; and

ORSO Interface

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* Guidelines on MPF Exempted ORSO Schemes - Illustrative Examples.

A spokesman for the MPFA 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.

End/Sunday, May 16, 1999

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