FAQs on the Reporting of ORSO Schemes

10.	What are the requirements regarding the annual reporting of an ORSO registered scheme? What should a relevant employer or trustee do if they are unable to meet the submission deadline?
	Answer:	The Occupational Retirement Schemes Ordinance ("the ORSO") requires the designated person of an ORSO registered scheme to send to the MPFA the following documents within six months from the end of the scheme's financial year: an annual return in the specified form containing statistical, financial and other information of the scheme, and confirming compliance with the ORSO's requirements such as independent trusteeship and disclosure of information to members or consultative committees; and a copy of the financial statements of the scheme for that year together with the auditor's report. The designated person must submit the prescribed Form ORS-4 for a non-MPF exempted ORSO registered scheme, and the prescribed Form MPF(ORSO) - AR for an MPF exempted ORSO registered scheme. If the designated person wants to extend the deadline for the submission of the documents, he should apply in writing to the MPFA stating the details of the scheme, the financial year concerned, the proposed deadline for submission as well as the grounds for application.
11.	Is there any annual reporting requirement for an ORSO exempted scheme?
	Answer:	Yes. The relevant employer is required to provide the specified information annually to the MPFA, within 14 days after each anniversary of the date of the exemption certificate. The type of information to be provided is determined by the grounds on which the ORSO exemption certificate is issued. The MPFA issues an exemption certificate to a relevant employer on either one of the following grounds: the scheme is registered or approved by an overseas authority which performs functions generally analogous to those of the MPFA; not more than either 10% or 50 of that scheme's members, whichever is less, are Hong Kong permanent identity card holders. If the ORSO scheme is approved on the basis of it being registered or approved by an overseas authority, the employer must give the MPFA documentary evidence satisfying the MPFA of the continued validity of the relevant registration or approval of the scheme. As for schemes approved on the basis of the number of permanent identity card holders, the employer is required to submit a written statement specifying the number of members of the scheme and the number of scheme members who are Hong Kong permanent identity card holders. Please click here for a specimen of the Annual Membership Statement.
12.	What are the requirements when reporting changes of an ORSO scheme by the relevant employer?
	Answer:	The following specified forms are used to report scheme changes by a relevant employer (or the representative employer in a group scheme consisting of more than one employer). The employer is obliged to notify the MPFA within one month of any change. Type of change Specified form Change of scheme name ORS-5 Change of relevant employer of the scheme by way of replacement ORS-6 Change (joining or withdrawal) of relevant employer of the scheme where no replacement is involved ORS-7 Change of name and/or address of the relevant employer of a scheme not caused by change of its legal entity ORS-8 Change of administrator of an ORSO registered scheme ** ORS-9 Change of representative employer of a group scheme ORS-11 Change of name and/or address of the representative employer of a group scheme not caused by change of its legal entity ORS-12   ** With regard to an MPF exempted ORSO scheme, please note that prior approval by the MPFA is required for the appointment or retirement of an individual trustee and/or corporate trustee that is not registered as a trust company.