An ORSO scheme which is granted an exemption certificate must comply with the requirements of ORSO, which include (but are not limited to):
The relevant employer of an exempted scheme shall provide annually to the Registrar-
These documents must be provided within 14 days after the expiration of the 12-month period or such longer period as the Registrar may allow.
The relevant employer shall notify the Registrar of any changes of the relevant employer / representative employer, scheme name, name and address of relevant employer (in a form specified by the Registrar) within one month of such changes.
The relevant employer shall pay an annual fee of $600 for an exempted scheme. This should be paid within one month after the annual due date, which means the last day of such period of 12 months during which the exemption certificate continues to be valid and beginning on the first or any subsequent anniversary of the date of the exemption certificate. If the fee is not paid within one month after the due date, a surcharge equal to the amount of the unpaid fee will be imposed.
For more details, please click to view A Guide to the Occupational Retirement Schemes Ordinance.
In addition to the above, an MPF exempted ORSO exempted scheme (i.e. an ORSO exempted scheme granted with an MPF exemption certificate) must also comply with the following:
Before the commencement of the MPF System, employers who had applied for an MPF exemption certificate were required to provide a one-time option to existing ORSO scheme members to remain in the ORSO scheme or become members of an MPF scheme. Since the commencement of the MPF System, these employers are required to provide a one-time option to new eligible employees (if applicable) to choose between the ORSO scheme and an MPF scheme.
An application shall be made by the relevant/representative employer in the prescribed format (i.e. Form WD-EE).
The relevant employer is also required to:
Last Revision Date: 19/01/2015