Which MPF scheme should I CHOOSE?
|
|
- Hugo Wright
- 5 years ago
- Views:
Transcription
1 Which MPF scheme should I CHOOSE?
2 Choose MPF scheme with care; study fees, services and fund options Currently, you have to choose an MPF scheme under five situations: You are an employer You are a self-employed person When your employer has enrolled in two or more schemes When you want to make special voluntary contributions When you cease to be employed and want another trustee to look after your MPF assets accumulated in your former employment When choosing a scheme, you should consider: Range and quality of services of trustees and their service providers Choices and suitability of funds (past performance is not a guide to the future performance of an MPF fund) Fees and charges (always compare funds of the same type)
3 36 Our Business Operations Protecting the Interests of Scheme Members OVERVIEW Our role Ensure that employers, employees and self-employed persons covered by the MPF System comply with MPF requirements In , we Recovered $197.4 million in default MPF contributions through the courts, or by persuasion and counselling of the employers concerned Filed 716 claims at the Small Claims Tribunal, District Court and High Court on behalf of employees Applied for summonses in respect of default contributions and non-enrolment Submitted 306 claims via liquidators on behalf of employees Issued 50 financial penalty notices to 48 employers Increased the visibility of MPFA s law enforcement actions through an enhanced section on enforcement work on MPFA s website and an episode produced for the Police Magazine broadcast on television Stepped up enforcement against scheme members who make false statements to withdraw their accrued benefits on the grounds of permanent departure from Hong Kong As at 31 March 2011 Close to 100%, 98% and 77% respectively of employers, employees and self-employed persons were enrolled in MPF schemes 85% of the working population in Hong Kong have been covered under various retirement protection schemes The MPFA s primary mission is to protect the rights and interests of MPF scheme members. Through our continual enforcement efforts to combat employers non-compliance, we hope to remind employers of their MPF obligations under the MPF legislation and encourage employees to pay attention to their MPF rights.
4 Mandatory Provident Fund Schemes Authority Annual Report ENROLMENT 85% of the working population in Hong Kong have been covered under various retirement protection schemes, including MPF schemes, MPF-exempted ORSO schemes or statutory pension plans (such as the Civil Service Pension Scheme). The remaining 15% included 12% who were exempt from the MPF System (employed persons aged below 18 or above 65, domestic employees and self-employed hawkers, etc), and 3% who should have joined an MPF scheme but have yet to do so. Participation rates in the MPF System remained high throughout the year. As at 31 March 2011, about employers, employees and self-employed persons ( SEPs ) have joined the MPF System, representing respective enrolment rates of close to 100%, 98% and 77%. For the Industry Schemes set up for casual employees in the catering and construction industries, the members enrolled were employers, employees and SEPs. Detailed statistics on enrolment are included in Part A of the Statistics section of this report. ENQUIRIES AND COMPLAINTS In , enquiries were received by the MPFA. They were mostly about transfer or withdrawal of benefits, contribution arrangements, and enrolment arrangements. During the year, complaints were received as compared with in Complaints relating to default contributions accounted for the majority of the cases recorded, followed by those relating to non-enrolment. Statistics relating to enquiries and complaints are in Part E of the Statistics section. DETERRENT TO NON-COMPLIANCE Most employers are law-abiding. Unfortunately, there are still some who seek to evade their MPF obligations by not enrolling their employees in any MPF scheme or not making mandatory contributions for them. We reviewed our strategies and measures in the light of operational experience and continued to step up enforcement of the MPF legislation against non-compliance to protect the retirement interests of scheme members. While effective strategies and measures were maintained, some new strategies were implemented to achieve a greater deterrent effect and to enhance efficiency of operations.
5 38 Our Business Operations Protecting the Interests of Scheme Members (cont d) We notice that non-compliance is sometimes due to misunderstanding and/or unawareness of MPF requirements. While we strive to enforce the MPF legislation, we also help employers understand their MPF obligations. The section on enforcement work on our website has been significantly revamped and redesigned to include new information, including significant enforcement cases and common fallacies with a view to enhancing deterrent effect and promoting understanding of MPF legislation. Separately, we completed the development of a database to capture information on employers and officers who have noncompliance records. On the basis of the information, we have compiled a list of these employers and officers for publication on our website starting from 23 May The section on enforcement work on MPFA s website was revamped to include new information, including significant enforcement cases and common fallacies, to enhance deterrent effect and to promote understanding of MPF legislation
6 Mandatory Provident Fund Schemes Authority Annual Report To augment the deterrent effect against non-compliant employers, we are preparing legislative proposals to make failure of employers to rectify non-payment of mandatory contributions a continuous offence; and to create an offence against failure of employers to pay any sum awarded by a tribunal or court. The latter proposal is similar to the arrangement introduced under the Employment (Amendment) Ordinance Debt Recovery Actions All along, we have been striving to recover defaulted MPF contributions for employees. While employees have the right to complain about suspected non-compliance of employers, trustees are statutorily responsible for reporting defaulted cases to us. When a case is substantiated, we will persuade the employers concerned to honour their obligations and, where appropriate, initiate civil claims and criminal prosecutions against them. In accordance with the MPF legislation, a surcharge calculated at 5% of the default contribution amount is imposed on employers who fail to make MPF contributions for their employees. The surcharges received are credited into the employees MPF accounts. During the year, surcharge notices were issued to employers with defaulted cases reported by trustees. In , we completed investigations into about employers regarding contributions and surcharges in arrears. On the substantiated cases, we filed one claim with the High Court, 100 claims with the District Court and 615 claims with the Small Claims Tribunal on behalf of 758, and employees respectively. In addition, we made 306 applications for employees to liquidators in respect of default contribution cases. Where sufficient evidence is available, we refer non-compliant cases to the Department of Justice and the Police for criminal prosecution. We applied for and 159 summonses in respect of default contribution and non-enrolment cases respectively. All the 141 employers (involving summonses) who had taken plea by 31 March 2011 pleaded guilty or were convicted. The total amount of fines imposed was $5,042,500. Among the summonses issued, 556 were laid against 48 directors/managers of limited companies. 29 of these directors/managers were convicted and fined between $2,000 and $90,000 each. The rest were pending court judgment. In addition, three summonses were laid against two MPF intermediaries for giving false and misleading information to the MPFA. One of the MPF intermediaries was convicted and fined $10,000. The other was pending court judgement. We also applied for 10 court orders to compel convicted employers to rectify their MPF non-compliance in order to protect the interests of scheme members.
7 40 Our Business Operations Protecting the Interests of Scheme Members (cont d) During the year, we issued one statutory demand to an employer, who was a repeat offender, requesting it to settle outstanding MPF contributions and surcharges within 21 days, failing which we would file a windingup/bankruptcy petition with the High Court. As this employer was subsequently wound up by a third party, we made an application to the liquidator in respect of the default contribution case. The case is being investigated by the liquidator. The MPFA is empowered under the MPF legislation to impose financial penalties on defaulting employers. During the year, 49 financial penalties of $5,000 for each case or 10% of the outstanding contribution, whichever was the greater, were imposed on 47 employers for default offences. They were mainly repeat defaulters. In addition, one financial penalty of $10,000 was imposed on an employer who failed to provide remittance statements to its trustee. We conducted proactive inspections into employment establishments to check on non-enrolment and default contributions. Major targets of these inspections included catering establishments, retail outlets and construction sites. To enhance the efficiency of our enforcement efforts, we maintained close communication and exchange intelligence with relevant stakeholders. Proactive inspections, for instance, were held jointly with the Labour Department. These collaborative efforts aimed to strengthen deterrence against noncompliant employers. We maintained close contact with labour unions to monitor and keep abreast of the situations of specific industries, especially those which tended to have more non-compliant cases, including the catering, retail, cleaning, security and construction industries. In , we recovered $197.4 million in default MPF contributions. Statistics on enforcement action taken are set out in Part F of the Statistics section. Enforcement Actions Against Target Groups We continued to take measures to enhance the compliance of SEPs. By distributing leaflets to SEP groups, we reminded them of their MPF obligations and encouraged them to actively look after their MPF investments. We conducted proactive inspections against suspected non-compliant SEPs and made outbound calls to selected SEPs to check on their compliance with MPF requirements and followed up any non-compliant instances identified.
8 Mandatory Provident Fund Schemes Authority Annual Report Under the MPF legislation, the benefits accrued in an MPF scheme member s account are to be preserved until retirement. Permanent departure from Hong Kong is one of the circumstances under which a scheme member may withdraw his accrued benefits before attaining retirement age. In recent years, some scheme members made false statements to withdraw accrued benefits on such grounds, and we have been taking actions to deter such abuses. In collaboration with the Police Public Relations Branch, an episode on a permanent departure case was produced for the Police Magazine and broadcast on local television channels. The aim was to warn scheme members against making false statements to withdraw accrued benefits on such grounds. Meanwhile, we continued to liaise with the relevant Government departments to vet the permanent departure claims and investigated suspected cases of abuse. During the year, we prosecuted 79 scheme members for making false statements in this regard. 46 of the scheme members pleaded guilty and were fined between $3,000 and $18,000 each. The other cases were pending court judgement as at 31 March 2011.
Business Operations MPF PRODUCTS. The DIS. Preparation and implementation. Design and development. Communication, publicity and education
We are an advocate of the MPF System, striving to refine it and maximize its value for scheme members. This section summarizes major results of our efforts in the year in improving MPF products, ensuring
More informationPart A MPF Scheme Members
Part A MPF Scheme Members 1. Employed Population (by Type of Retirement Schemes) (as at 31.3.2017) 12% 3% 12% Employed Population 3 792 000 73% Joined MPF schemes (2 774 000 persons) Joined other retirement
More informationWho are covered by the MPF System?
The Mandatory Provident Fund (MPF) System aims at assisting the employed population of Hong Kong to accumulate retirement savings. This leaflet helps you better understand how the MPF System relates to
More informationSupervision of the MPF Industry Professional
Professional [ 22 ] Mandatory Provident Fund y Schemes Authority Supervision of the MPF Industry The MPFA is responsible for overseeing the operations of the approved trustees and the registered MPF products
More informationThe Mandatory Provident Fund
The Mandatory Provident Fund Hong Kong Shanghai Beijing Yangon www.charltonslaw.com The Mandatory Provident Fund Hong Kong has a rapidly ageing population: people aged 65 and above currently account for
More informationMANDATORY PROVIDENT FUND SCHEMES AUTHORITY. Guidelines on Election for Transfer of Accrued Benefits
MANDATORY PROVIDENT FUND SCHEMES AUTHORITY IV.3 Guidelines on Election for Transfer of Accrued Benefits INTRODUCTION Sections 145, 146, 147, 148, 148A, 148B, 149, 150 and 150A of the Mandatory Provident
More informationMANDATORY PROVIDENT FUND SCHEMES ORDINANCE (CAP. 485) ( the Ordinance )
AIA Pension and Trustee Co. Ltd. (Incorporated in the British Virgin Islands with limited liability) 1/F, AIA Building 1 Stubbs Road Hong Kong T: (852) 2100 1888 (Employer) (852) 2200 6288 (Member) F:
More informationAn Overview of Default Investment Strategy, the Regulator s Role and its Public Communication Plan
The Hong Kong Retirement Schemes Association Default Investment Strategy Seminar Planning & Implementation An Overview of Default Investment Strategy, the Regulator s Role and its Public Communication
More informationMPFA Updates: Latest Developments of MPF System and Their Impacts on HR Practitioners
MPFA Updates: Latest Developments of MPF System and Their Impacts on HR Practitioners Mr Cheng Yan-chee Chief Corporate Affairs Officer and Executive Director Mandatory Provident Fund Schemes Authority
More informationGood MPF Employer Award Detailed Eligibility and Assessment Criteria
Good MPF Employer Award 2016-17 Detailed Eligibility and Prerequisite Employers have participated in an MPF scheme for at least one year (as of 31 March 2017). An employer must have continuously participated
More informationStatistical Report on Claims for Offsetting Severance Payment and Long Service Payment against MPF Accrued Benefits
Statistical Report on Claims for Offsetting Severance Payment and Long Service Payment against MPF Accrued Benefits (1 January 2014 31 December 2014) Mandatory Provident Fund Schemes Authority 2015 Published
More informationFORM MPF(S) W(R) MPF(S) W(R)
FORM MPF(S) W(R) MPF(S) W(R) Claim Form For Payment Of Accrued Benefits On Ground Of Attaining The Retirement Age Of 65 Or Early Retirement Please read the following important notes before completing this
More informationMANDATORY PROVIDENT FUND SCHEMES AUTHORITY. Guidelines on Payment of Accrued Benefits Documents to be Submitted to Approved Trustees
Guidelines IV.4 MANDATORY PROVIDENT FUND SCHEMES AUTHORITY IV.4 Guidelines on Payment of Accrued Benefits Documents to be Submitted to Approved Trustees INTRODUCTION In accordance with section 15 of the
More informationMPF.AIA.COM.HK (MPF) RETIREMENT.AIA.COM.HK (ORSO) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE (CAP. 485) ( the Ordinance )
AIA Pension and Trustee Co. Ltd. (Incorporated in the British Virgin Islands with limited liability) 1/F, AIA Building 1 Stubbs Road Hong Kong T: (852) 2100 1888 (Employer) (852) 2200 6288 (Member) F:
More informationStatistical Report on Claims for Offsetting Severance Payment and Long Service Payment against MPF Accrued Benefits
Statistical Report on Claims for Offsetting Severance Payment and Long Service Payment against MPF Accrued Benefits (1 January 2016 31 December 2016) Mandatory Provident Fund Schemes Authority 2017 Published
More informationMANDATORY PROVIDENT FUND SCHEMES ORDINANCE (CAP. 485) ( the Ordinance )
AIA Pension and Trustee Co. Ltd. (Incorporated in the British Virgin Islands with limited liability) 1/F, AIA Building 1 Stubbs Road Hong Kong T: (852) 2100 1888 (Employer) (852) 2200 6288 (Member) F:
More informationFrequently Ask Questions: Employee
Frequently Ask Questions: Employee 1. Can the member withdraw the accrued benefits from his/her account in the MPF if he or she needs money? Ans: The member can only withdraw the accrued benefits under
More informationMANDATORY PROVIDENT FUND SCHEMES ORDINANCE (CAP. 485) ( the Ordinance )
Annex A to V.11 FORM MMB - W MANDATORY PROVIDENT FUND SCHEMES ORDINANCE (CAP. 485) ( the Ordinance ) CLAIM FORM FOR WITHDRAWAL OF MINIMUM MPF BENEFITS FROM MPF EXEMPTED ORSO REGISTERED SCHEME NOTES: (1)
More informationSTUDY GUIDE PENSION. Role of actuaries in pension market in Hong Kong Main type of retirement schemes. schemes practice available in Hong
Section 3.3 Study Guide P. 0 of 15 STUDY GUIDE ASHK Examinations PENSION Role of actuaries in pension market in Hong Kong Main type of retirement schemes Role available of actuaries in Hong in Kong pension
More informationMANDATORY PROVIDENT FUND SCHEMES AUTHORITY. Guidelines on Election Forms for Transfer of Accrued Benefits
Guidelines IV.3 MANDATORY PROVIDENT FUND SCHEMES AUTHORITY IV.3 Guidelines on Election Forms for Transfer of Accrued Benefits INTRODUCTION Section 151 of the Mandatory Provident Fund Schemes (General)
More information(I) Introduction to Mandatory Provident Fund 2-3. (II) Enrolment 4. (III) Contribution Arrangement 5-6. (IV) Voluntary Contributions 7
Contents Pages (I) Introduction to Mandatory Provident Fund 2-3 (II) Enrolment 4 (III) Contribution Arrangement 5-6 (IV) Voluntary Contributions 7 (V) Change of Investment Mandate or Fund Switching 8 (VI)
More informationMANDATORY PROVIDENT FUND SCHEMES AUTHORITY. V.11 Guidelines on MPF Exempted ORSO Schemes Withdrawal of Minimum MPF Benefits
MANDATORY PROVIDENT FUND SCHEMES AUTHORITY V.11 Guidelines on MPF Exempted ORSO Schemes Withdrawal of Minimum MPF Benefits INTRODUCTION In accordance with section 6 of Schedule 2 to the Mandatory Provident
More informationUniversal Retirement Protection: The Relevance of MPF in the Debate. Diana Chan Managing Director Mandatory Provident Fund Schemes Authority
Universal Retirement Protection: The Relevance of MPF in the Debate Diana Chan Managing Director Mandatory Provident Fund Schemes Authority Challenges of an Ageing Population Like many other societies
More informationMPF Guide. HSBC Mandatory Provident Fund
MPF Guide HSBC Mandatory Provident Fund Your total MPF planning HSBC MPF Employer Hotline 2583 8033 HSBC MPF Website www.hsbc.com.hk/mpf L-MPF001B v09/0417 (0417) H Important notes The HSBC Mandatory Provident
More informationHong Kong s Judiciary Procedures
Hong Kong s Judiciary Procedures Prosecution for Tax Offences 5 September, 2012 Inland Revenue Department Hong Kong SAR Preliminary Assessment Prosecution potential Available facts Intelligence Search
More informationMANDATORY PROVIDENT FUND SCHEMES AUTHORITY. Guidelines on Payment of Accrued Benefits Documents to be Submitted to Approved Trustees
MANDATORY PROVIDENT FUND SCHEMES AUTHORITY IV.4 Guidelines on Payment of Accrued Benefits Documents to be Submitted to Approved Trustees INTRODUCTION In accordance with section 15 of the Mandatory Provident
More informationMPF Guide. Hang Seng Mandatory Provident Fund
MPF Guide Hang Seng Mandatory Provident Fund Your total MPF planning Hang Seng MPF Direct 2997 2838 Hang Seng MPF website hangseng.com/empf L-HAMPF001B v11/0318 (0318) H Important notes The Hang Seng Mandatory
More informationSFC Code on MPF Products
SFC Code on MPF Products Securities and Futures Commission 2014 April 2003 first edition April 2004 second edition August 2008 third edition June 2010 fourth edition April 2013 fifth edition August 2014
More informationAIA MPF Contribution Guide
AIA MPF Contribution Guide mpf.aia.com.hk To help you easily fulfil your contribution obligations, AIA MPF offers various tools to ease your administrative burden. Contribution Guide Three simple steps
More informationMANDATORY PROVIDENT FUND SCHEMES AUTHORITY. V.4 Guidelines on MPF Exempted ORSO Schemes - Preservation of Benefits
MANDATORY PROVIDENT FUND SCHEMES AUTHORITY V.4 Guidelines on MPF Exempted ORSO Schemes - Preservation of Benefits INTRODUCTION Pursuant to sections 4, 5 and 6 of Schedule 2 to the Mandatory Provident Fund
More informationService and Support for your Retirement Plan
Principal MPF Scheme Series 600 and 800 Service and Support for your Retirement Plan Employer Guide Contents Introduction of Employer Guide 1 New Business Installation 2 Enrolment 3 Contribution / Billing
More informationAIA MPF Contribution Guide
PENSION - MPF AIA MPF Contribution Guide mpf.aia.com.hk To help you easily fulfil your contribution obligations, AIA offers various tools to ease your administrative burden. Contribution Guide Three simple
More informationCODE OF CONDUCT FOR MPF INTERMEDIARIES
CODE OF CONDUCT FOR MPF INTERMEDIARIES Fifth Edition October 2005 Hong Kong TABLE OF CONTENTS CHAPTER 1 INTRODUCTION Page 1 Introduction 1 2 Regulatory Framework 2 3 Application 5 4 Effect of Breach 6
More informationEnrolment Kit. HSBC Mandatory Provident Fund
Enrolment Kit HSBC Mandatory Provident Fund Your total MPF planning HSBC MPF Member Hotline 3128 0128 HSBC MPF Website www.hsbc.com.hk/mpf L-MPF003B v11/0318 (0318) H Important notes The HSBC Mandatory
More informationNOTES TO TRANSFER OF BENEFITS BY SCHEME MEMBER (for self-employed person, personal account holder or employee ceasing employment)
NOTES TO TRANSFER OF BENEFITS BY SCHEME MEMBER (for self-employed person, personal account holder or employee ceasing employment) Please read the following important notes before completing this Form.
More informationManulife Global Select (MPF) Scheme. Member Operation Manual 1 / 26
Manulife Global Select (MPF) Scheme Member Operation Manual 1 / 26 TABLE OF CONTENTS PREFACE SECTION 1: INTRODUCTION 1.1 Our Product 1.2 Welcome to Manulife SECTION 2: MPF CONTRIBUTIONS 2.1 Employee Member
More informationMANDATORY PROVIDENT FUND SCHEMES AUTHORITY (MPFA) Notification of Change of Information by a Subsidiary Intermediary
MANDATORY PROVIDENT FUND SCHEMES AUTHORITY (MPFA) Notification of Change of Information by a Subsidiary Intermediary Form INT-7 SI-Change Particulars Name of Subsidiary Intermediary: MPF Registration No.:
More informationIOPS COUNTRY PROFILE: HONG KONG, CHINA
IOPS COUNTRY PROFILE: HONG KONG, CHINA DEMOGRAPHICS AND MACROECONOMICS GDP per capita (USD) 45 600 Population (000s) 7 122 Labour force (000s) 3 700 Employment rate 95.7 Population over 65 (%) 13.5 Dependency
More informationResidential Tenancy Branch Administrative Penalties Review. March 21, 2016
Residential Tenancy Branch Administrative Penalties Review Contents Introduction... 3 Intent of Administrative Penalties... 3 Best Practice in Administrative Penalties... 4 Residential Tenancy Branch Measures
More informationMANDATORY PROVIDENT FUND SCHEMES AUTHORITY. V.4 Guidelines on MPF Exempted ORSO Schemes Preservation of Benefits
MANDATORY PROVIDENT FUND SCHEMES AUTHORITY V.4 Guidelines on MPF Exempted ORSO Schemes Preservation of Benefits INTRODUCTION Pursuant to sections 4, 5 and 6 of Schedule 2 to the Mandatory Provident Fund
More informationMANDATORY PROVIDENT FUND SCHEMES AUTHORITY (MPFA) Application for Registration as a Principal Intermediary
MANDATORY PROVIDENT FUND SCHEMES AUTHORITY (MPFA) Application for Registration as a Principal Intermediary (under section 34T(1) of the Mandatory Provident Fund Schemes Ordinance, Cap.485( MPFSO )) Form
More informationAIA MPF Employer Contribution Quick Guide
AIA MPF Employer Contribution Quick Guide mpf.aia.com.hk Employer Contribution Quick Guide To help you easily fulfil your contribution obligations, AIA MPF provides you with various tools to ease your
More informationNOTES TO TRANSFER BENEFITS BY SCHEME MEMBER (for self-employed person, personal account holder or employee ceasing employment)
NOTES TO TRANSFER BENEFITS BY SCHEME MEMBER (for self-employed person, personal account holder or employee ceasing employment) Please read the following important information before you complete Form MPF(S)-P(M).
More informationNEW DUTIES OF FRENCH AN D HONG KONG COMPANIES IN LINE WITH OECD S UPSCALED STANDARD TO FIGHT AGAINST MONEY LAUNDERING WORLDWIDE 1 OUTLINE
NEW DUTIES OF FRENCH AN D HONG KONG COMPANIES IN LINE WITH OECD S UPSCALED STANDARD TO FIGHT AGAINST MONEY LAUNDERING WORLDWIDE 1 OUTLINE French Law. - Following the European Directive 2015/849 dated 20
More informationMPF. Embarking on My MPF Journey
MPF Embarking on My MPF Journey Welcome to your MPF Journey 2 MPF MPF The MPF System Background Joining an MPF scheme MPF contributions The MPF rights of part-time employees How to calculate the MPF contribution
More informationDefault Investment Strategy A New Milestone in the MPF System
Default Investment Strategy A New Milestone in the MPF System Cheng Yan-chee Chief Corporate Affairs Officer and Executive Director Mandatory Provident Fund Schemes Authority 5 October 2016 Retirement
More informationSator Regulatory Consulting Limited.
Sator Regulatory Consulting Limited Regulatory Risk Management Technical Advice Investigatory Assistance Resources Support for Business, International Standard Setters & Regulatory Authorities www.sator.je
More informationMANDATORY PROVIDENT FUND SCHEMES AUTHORITY (MPFA) Notification of Change of Information by a Subsidiary Intermediary
MANDATORY PROVIDENT FUND SCHEMES AUTHORITY (MPFA) Notification of Change of Information by a Subsidiary Intermediary Form INT-7 SI-Change Particulars Name of Subsidiary Intermediary: MPF Registration No.:
More informationMANDATORY PROVIDENT FUND SCHEMES ORDINANCE (CAP. 485) ( the Ordinance ) QUARTERLY STATISTICAL RETURN OF REGISTERED SCHEME
FORM S(QR) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE (CAP. 485) ( the Ordinance ) QUARTERLY STATISTICAL RETURN OF REGISTERED SCHEME NOTES: (1) This Form must be completed by the approved trustee ( the
More informationTERMS FOR THE APPOINTMENT OF CORRESPONDENTS OF FOREIGN INSURANCE UNDERTAKINGS FOR THE HANDLING OF MOTOR ACCIDENTS CLAIMS
TERMS FOR THE APPOINTMENT OF CORRESPONDENTS OF FOREIGN INSURANCE UNDERTAKINGS FOR THE HANDLING OF MOTOR ACCIDENTS CLAIMS In Article 4 of the Internal Regulations it is provided that each Bureau shall set
More informationSCHEME MEMBER S REQUEST FOR ACCOUNT CONSOLIDATION FORM (for consolidating multiple personal accounts into one account)
AIA Pension and Trustee Co. Ltd. (Incorporated in the British Virgin Islands with limited liability) 1/F, AIA Building 1 Stubbs Road Hong Kong T: (852) 2100 1888 (Employer) (852) 2200 6288 (Member) F:
More informationOccupational health and safety compliance and enforcement policy
Occupational health and safety Edition 2 September 2018 Contents WorkSafe s role 3 Victoria s OHS laws 3 WorkSafe values and principles of compliance and enforcement 4 WorkSafe s regulatory model 5 Who
More informationAIA MPF - Prime Value Choice Principal Brochure
AIA MPF - Prime Value Choice mpf.aia.com.hk 1 Important Notes The MPF Conservative Fund, the Capital Stable Portfolio, the RCM Capital Stable Fund and the Fidelity Capital Stable Fund in the AIA MPF -
More informationCHARITABLE FUND-RAISING ACT
Province of Alberta CHARITABLE FUND-RAISING ACT Revised Statutes of Alberta 2000 Current as of November 5, 2014 Office Consolidation Published by Alberta Queen s Printer Alberta Queen s Printer Suite 700,
More informationBAF CAYMAN PENSION PLAN
BAF CAYMAN PENSION PLAN NEW YEAR CHANGES TO PENSIONS December 31, 2016 will mark not only the eve of a new year but also the commencement of The National Pensions (Amendment) Law 2016 (the Law ). The Law
More information(b) Passport number: (ONLY for scheme member without HKID Card) Flat/Room Floor Block Building. Estate Street no. Street
AIA Pension and Trustee Co. Ltd. (Incorporated in the British Virgin Islands with limited liability) 1/F, AIA Building 1 Stubbs Road Hong Kong T: (852) 2100 1888 (Employer) (852) 2200 6288 (Member) F:
More informationBill No. 2 Retirement Benefits Sector Liberalisation Bill 2011
THE RETIREMENT BENEFITS SECTOR LIBERALISATION BILL, 2011 ARRANGEMENT OF CLAUSES Clause 1. Commencement 2. Interpretation PART I PRELIMINARY PART II LIBERALISATION OF THE RETIREMENT BENEFITS SECTOR 3. Liberalisation
More informationThe Scheme. Trustee. MassMutual Trustees Limited 4/F & 12/F MassMutual Tower 38 Gloucester Road Wanchai, Hong Kong. Investment Manager.
A The Scheme Trustee MassMutual Trustees Limited 4/F & 12/F MassMutual Tower 38 Gloucester Road Wanchai, Hong Kong Investment Manager Allianz Global Investors Asia Pacific Limited 27/F, ICBC Tower, 3 Garden
More informationTHE PRIVATE SECURITY SECTOR PROVIDENT FUND LAUNCHES THE NATIONWIDE PRIVATE SECURITY SECTOR COMPLIANCE
THE PRIVATE SECURITY SECTOR PROVIDENT FUND LAUNCHES THE NATIONWIDE PRIVATE SECURITY SECTOR COMPLIANCE Fellow Trustees, Principal Officer, Chief Operations Officer and Members of the Media Ladies and Gentlemen
More informationMANDATORY PROVIDENT FUND SCHEMES AUTHORITY. Guidelines on Enrolment and Contribution Arrangements for Casual Employees
MANDATORY PROVIDENT FUND SCHEMES AUTHORITY IV.9 Guidelines on Enrolment and Contribution Arrangements for Casual Employees INTRODUCTION Sections 7, 7A and 7B of the Mandatory Provident Fund Schemes Ordinance
More informationSun Life MPF Master Trust. Consolidated Offering Document
Consolidated Offering Document VERSION December 2016 If you are in doubt about the meaning or effect of the contents of this document, you should seek independent professional advice. This document contains
More informationFINANCIAL SERVICES COMMISSION OF ONTARIO. Administrative Penalties Guideline. Contraventions under the Pension Benefits Act and its Regulations
FINANCIAL SERVICES COMMISSION OF ONTARIO Administrative Penalties Guideline Contraventions under the Pension Benefits Act and its s November 2018 Table of Contents PURPOSE... 3 OVERVIEW OF ADMINISTRATIVE
More informationCandidate Information Pack Transferees and Re-joiner Constables
Candidate Information Pack Transferees and Re-joiner Constables Contents Section One Section Two Section Three Role & Eligibility The Recruitment Process Salary & Pension Information Section One Role &
More informationBANKING ACT 2003 As amended 2004 ANALYSIS
BANKING ACT 2003 As amended 2004 ANALYSIS PART 1 PRELIMINARY 1. Short Title, commencement and application of this Act 2. Interpretation PART 2 LICENSING OF BANKING BUSINESS 3. Licence needed to carry on
More informationNOTES TO TRANSFER BENEFITS BY EMPLOYER. Please read the following important information before you complete Form MPF(S)-P(E).
NOTES TO TRANSFER BENEFITS BY EMPLOYER Please read the following important information before you complete Form MPF(S)-P(E). (1) Definition of terms: (a) Contribution account - an account in an MPF scheme
More informationContent. Management And Administration
Content Management and Administration... 1 Glossary...2 BCOM Joyful Retirement MPF Scheme...3 Constituent Funds...7 Fees and Charges...9 Choice of Constituent Funds...13 Tax Advantages...14 Reports, Statements
More informationPremier Professional
Premier Professional MEMBER REWARDS PARTNER Premier Professional Important: This is a claims made insurance, which means we must receive claims during the period of insurance. This Policy insures you.
More informationFORM F4 REGISTRATION INFORMATION FOR AN INDIVIDUAL
SUBMISSION TO NRD FORM 33-109F4 REGISTRATION INFORMATION FOR AN INDIVIDUAL Enter the following information using the online version of this submission at the NRD web site (www.nrd.ca). If the NRD filer
More informationEmployer s Guide. mpf.aia.com.hk
Employer s Guide mpf.aia.com.hk The information stated or expressed in this document is for reference purpose only. This document has been produced to help you better understand your MPF scheme and its
More informationBCT Default Investment Strategy ( DIS ) Frequently Asked Questions
BCT Default Investment Strategy ( DIS ) Frequently Asked Questions Basic Questions 1. What is DIS? One investment solution: The DIS is a ready-made and low-cost investment solution, designed mainly for
More informationThe Audit of Retirement Schemes
PN 860.1 (Revised) Issued December 2014; revised December 2015, October 2016 Effective for audits of financial statements for periods ending on or after 15 December 2016 Practice Note 860.1 (Revised) The
More informationStatement of Fact for Your Self Employed Tradesman Policy. Policy Number 97SEP This is an important document and You must read it in full
Statement of Fact for Your Self Employed Tradesman Policy Policy Number 97SEP3169421 Produced on 14/06/2018 This is an important document and You must read it in full Policy Details Policy number The Policyholder
More informationReport of the Finance Director to the meeting of the Governance & Audit Committee to be held on 29 th
Report of the Finance Director to the meeting of the Governance & Audit Committee to be held on 29 th September 2016 Subject: H Corporate Fraud Unit annual performance information. Summary statement: The
More informationChapter 2: Duties of Financial Intermediaries Section 1: Duty of Due Diligence
Federal Act 955.0 a. the Swiss National Bank; b. tax-exempt occupational pension institutions; c. persons who provide their services solely to tax-exempt occupational pension institutions; d. financial
More informationANNOUNCEMENT OF APPOINTMENT OF EXECUTIVE DIRECTOR AND CHIEF EXECUTIVE OFFICER OF HOSPITALITY *
ANNOUNCEMENT OF APPOINTMENT OF EXECUTIVE DIRECTOR AND CHIEF EXECUTIVE OFFICER OF HOSPITALITY * Like 0 Tweet 0 0 * Asterisks denote mandatory information Name of Announcer * Company Registration. Announcement
More informationFORM MPF(S) - P(C) SCHEME MEMBER S REQUEST FOR ACCOUNT CONSOLIDATION FORM (for consolidating multiple personal accounts into one account)
SUN LIFE RAINBOW MPF SCHEME Filling In This Form SCHEME MEMBER S REQUEST FOR ACCOUNT CONSOLIDATION FORM (for consolidating multiple personal accounts into one account) Please read the following important
More informationMANDATORY PROVIDENT FUND SCHEMES ORDINANCE (CAP. 485) ( the Ordinance ) WITHDRAWAL OF MINIMUM MPF BENEFITS FROM MPF EXEMPTED ORSO REGISTERED SCHEME
Annex A to V.11 FORM MMB - W MANDATORY PROVIDENT FUND SCHEMES ORDINANCE (CAP. 485) ( the Ordinance ) WITHDRAWAL OF MINIMUM MPF BENEFITS FROM MPF EXEMPTED ORSO REGISTERED SCHEME NOTES: (1) This Form is
More informationNovember 2018 Version
November 2018 Version Welcome Thank you for choosing BCT as your Mandatory Provident Fund ( MPF ) service provider. We are dedicated to providing best-inclass pension products and services to help employers
More informationDNS Associates Ltd SSAS. Small Self-Administrated Pension Scheme. Duties and Responsibilities of Scheme Administrator
DNS Associates Ltd SSAS Small Self-Administrated Pension Scheme Duties and Responsibilities of Scheme Administrator WWW.DNSASSOCIATES.CO.UK Role of Scheme Administrator To be registered by HMRC, a pension
More informationAnnex to II.6 MANDATORY PROVIDENT FUND SCHEMES ORDINANCE (CAP. 485) INTERNAL CONTROLS OF REGISTERED SCHEMES
MANDATORY PROVIDENT FUND SCHEMES ORDINANCE (CAP. 485) INTERNAL CONTROLS OF REGISTERED SCHEMES Version 2 July 2010 INTERNAL CONTROLS OF REGISTERED SCHEMES CONTENTS Page 1. Introduction 1 2. Reporting Requirements
More informationTRUSTED TRADER CONTENTS. Terms and conditions of scheme membership.
TRUSTED TRADER Terms and conditions of scheme membership CONTENTS 1. Trusted Trader 2. Trading Standards Commitments 3. Business Code of Practice 4. Guide to Trading Fairly 5. Subcontracting 6. Promotion
More informationMANDATORY PROVIDENT FUND SCHEMES AUTHORITY. Guidelines on MPF Intermediary Registration and Notification of Changes
Guidelines VI.1 MANDATORY PROVIDENT FUND SCHEMES AUTHORITY VI.1 Guidelines on MPF Intermediary Registration and Notification of Changes INTRODUCTION Application for Registration as Principal Intermediary
More informationDirectors Duties and Responsibilities
Directors Duties and Responsibilities Directors of a corporation owe duties (and therefore may incur personal liability) to a broad group of persons including the corporation itself, shareholders of the
More informationMANDATORY PROVIDENT FUND SCHEMES AUTHORITY. IV.9 Guidelines on Enrolment and Contribution Arrangements for Casual Employees
MANDATORY PROVIDENT FUND SCHEMES AUTHORITY IV.9 Guidelines on Enrolment and Contribution Arrangements for Casual Employees INTRODUCTION Sections 7, 7A and 7B (collectively the Sections ) of the Mandatory
More informationHang Seng MPF. Annual Member Newsletter. Hang Seng MPF Service Hotline Hang Seng MPF website hangseng.com/empf August 2014
Hang Seng MPF Annual Member Newsletter 2014 8 August 2014 Hang Seng MPF website hangseng.com/empf Hang Seng MPF Service Hotline 2213 2213 Important notes The Hang Seng Mandatory Provident Fund SuperTrust,
More informationTitle of Report. Online Individual. Questionnaire Template. Credit Unions
2014 1 Title of Report Online Individual Questionnaire Template Credit Unions Table of Contents 1. Preliminary Questions... 3 2. Applicant Personal Details... 4 3. Professional Experience & other Relevant
More informationForm INT-2 MANDATORY PROVIDENT FUND SCHEMES AUTHORITY (MPFA) SI-Application (Individual)
Form INT-2 MANDATORY PROVIDENT FUND SCHEMES AUTHORITY (MPFA) SI-Application (Individual) Applications for Registration as a Subsidiary Intermediary (by an Individual) and Approval of Attachment of a Subsidiary
More informationREGULATORY OVERVIEW. I. Overview of the Laws and Regulations Relating to the Group s Business Operations in Hong Kong
IN HONG KONG I. Overview of the Laws and Regulations Relating to the Group s Business Operations in Hong Kong The key laws and regulations which relate to the Group s business and operations in Hong Kong
More informationNetworking and Engagement
The support from our stakeholders is essential to the sustainable development of the MPF System. We collaborate with various parties to supervise the operation of MPF schemes, promote public understanding
More informationBehavioural challenge
Behavioural challenge 1 January 2018 Helen Adams considers the findings of research commissioned by HMRC into tax evasion and the sharing economy and what more could be done to improve compliance What
More informationTRUSTED TRADER. Trusted Trader terms and conditions. Contents.
Trusted Trader terms and conditions Contents 1. TRUSTED TRADER... 2 2. TRADING STANDARDS COMMITMENTS... 2 3. TRUSTED DIRECTORY SERVICES LTD COMMITMENTS... 2 4. BUSINESS CODE OF PRACTICE... 3 5. REQUIREMENT
More informationApplication Self Assessment Form for Approval of Index Tracking Collective Investment Scheme ( ITCIS )
The applicant should note that a person who in any document given to the Authority makes a statement that the person knows to be false or misleading in a material respect, or recklessly makes a statement
More informationThis document has been provided by the International Center for Not-for-Profit Law (ICNL).
This document has been provided by the International Center for Not-for-Profit Law (ICNL). ICNL is the leading source for information on the legal environment for civil society and public participation.
More informationSCHEME MEMBER S REQUEST FOR ACCOUNT CONSOLIDATION FORM (for consolidating multiple personal accounts into one account)
SUN LIFE MPF BASIC / COMPREHENSIVE SCHEME SCHEME MEMBER S REQUEST FOR ACCOUNT CONSOLIDATION FORM (for consolidating multiple personal accounts into one account) Please read the following important notes
More informationPERSONAL QUESTIONNAIRES AND PERSONAL DECLARATIONS GUIDANCE NOTES
PERSONAL QUESTIONNAIRES AND PERSONAL DECLARATIONS GUIDANCE NOTES INTRODUCTION This document is intended to provide assistance by highlighting and clarifying areas of uncertainty that may arise when completing
More informationData Protection Register - Entry Details
Data Protection Register - Entry Details Registration Number: Z1083790 Date Registered: 17 October 2007 2013 Registration Expires: 16 October Data Controller: ICEX LIMITED Address: ICEX LTD CARLTON HOUSE
More informationWhy should an employer take out employees compensation insurance (ECI)?
Why should an employer take out employees compensation insurance (ECI)? According to section 40 of the Employees Compensation shall employ any employee in any employment unless there is in force a policy
More informationNFA response to government consultation on social housing fraud
NFA response to government consultation on social housing fraud March 2012 Introduction The National Federation of ALMOs (NFA) represents 55 ALMOs which manage over 800,000 council homes across 54 local
More informationThe Actuarial Society of Hong Kong MPF Market Size Projection
The Actuarial Society of Hong Kong MPF Market Size Projection Wong Tak Chi 15 Sep 2015 Agenda 1. What triggers such exercise 2. The Taskforce 3. The Projection Model 4. Assumptions 5. Key Results & Sensitivities
More informationProposer Details. Application Form for Professional Indemnity and Liability Insurances Surveyors
Application Form for Professional Indemnity and Liability Insurances Surveyors This application form must be completed signed and dated by your Principal, Director or Partner Please ensure that all questions
More information