Obligations As a Relevant Employer

Under the ORSO, the major statutory obligations for you, as a relevant employer of an ORSO registered scheme, are as follows:

Provision of Information and Benefits to Scheme Members
• You must provide information on the criteria and conditions of membership, how contributions are calculated, what benefits are payable, and the conditions for payment.
  
  
• You must provide each employee (scheme member) with an annual statement within six months after the end of the scheme's financial year. This statement must include their vested benefits, and the benefits expected to be received on their retirement in respect of the qualifying service already rendered.
  
  
• You must inform your scheme members about the particulars of any amendment to the scheme upon receipt of such notice from the administrator of the scheme.
  
  
• You must provide each scheme member with particulars of any benefits under the scheme when he or she ceases to be employed by you (i.e. ceases to be under your employment to which the scheme relates), on request in writing made by the employee, not later than three months after such cessation.
  
  
• You must also inform each member about the termination of the scheme within 14 days of the commencement of the winding up or termination process.
  
  Payment of Periodic Fees to the MPFA
• You need to pay an annual prescribed fee of HK$2,400 for an individual scheme, HK$1,200 for a pooled scheme and HK$600 for an exempted scheme. This should be paid within one month after the first or any subsequent anniversary of the date of the scheme's registration, or the date of the exemption certificate. If the said fee remains unpaid after the one-month period, a surcharge of the same amount as the periodic fee must be paid in addition to the prescribed fee. As a relevant employer, you have a legal obligation to pay periodic fees on time.
  
  Notification of Changes to the MPFA
• You must notify the MPFA of any change to your company's name or address, any change of the administrator or the relevant employer, or change of scheme name within one month of such change. Click here to download relevant notification forms.
  
  
• You must inform the MPFA about the termination of your scheme within 14 days of the commencement of the winding up or termination process.
  
  Funding and Audit of Schemes
• As an employer, you must provide sufficient funds to the scheme for the payment of benefits to members.
  
  
• Where the registered scheme is a defined contribution scheme, you must pay contributions in accordance with the terms of the scheme. For a defined benefit scheme, you must implement the actuary's recommendations as regards the scheme's funding.
  
  
• You must appoint an auditor to conduct an annual audit on the contributions made to the scheme. An employer's auditor's statement prepared in accordance with the guidelines issued by the MPFA (i.e. Form A and Form B) should be submitted to the administrator's auditor for the preparation of the auditor's report on the scheme.

For MPF exempted ORSO schemes, relevant employers have to comply with, amongst other things, the following additional requirements:

1. You must provide options to existing members and new eligible employees, if applicable, to choose between the ORSO scheme and an MPF scheme;
2. You must provide an option to a member to join an MPF scheme when you decide to reduce such member's future benefits or rights under the ORSO scheme;
3. You must ensure the exemption certificate is exhibited at all times in a conspicuous position at your principal office in Hong Kong, or if there is no such office, at each premises where a member of the ORSO scheme is employed by you; and
4. You must provide each member under your employment with a copy of the exemption certificate.
5. With regard to an MPF exempted ORSO registered scheme, you (as the relevant employer of such a scheme) are reminded that where a new member is entitled to receive benefits under the scheme, the minimum MPF benefits of the member have to be transferred, in accordance with the governing rules of the scheme, by the trustee of the scheme as soon as reasonably practicable:
   • to an MPF scheme in which the member's new employer is a participating employer; or
   • to an MPF master trust scheme or an MPF industry scheme, as nominated by the member, that accepts transfer of minimum MPF benefits.
   As the relevant employer, you should ensure the necessary information is obtained from all members concerned.