FAQs on Periodic Fees of ORSO Schemes

13.	What are the periodic fees payable by a relevant employer of an ORSO scheme and how are they determined?
	Answer:	A periodic fee is payable by a relevant employer of an ORSO scheme annually, commencing from the first anniversary date of registration, or the first anniversary of the date of the exemption certificate. These fees should be paid not later than one month after the first day of the period in respect of which they are payable. If a fee is not paid within the aforesaid one month timeframe, a surcharge equal to the amount of the unpaid fee shall be payable. The Occupational Retirement Schemes (Fees) Rules specify the following types of periodic fees payable for ORSO schemes: - ORSO exempted scheme $600 - ORSO registered scheme participating in a pooling agreement $1,200 - ORSO registered scheme not participating in a pooling agreement $2,400 Relevant employers of ORSO schemes should note that it is not the MPFA's obligation to issue a Periodic Fee Payment Advice ahead of the due date. Negligence by employers, non-receipt or late receipt of the Payment Advice, or other reasons would not exempt employers from the statutory requirements of paying periodic fees before the due date.
14.	Will a relevant employer receive a receipt from the MPFA after paying a periodic fee?
	Answer:	The MPFA pledges to issue an official receipt within eight working days from cheque clearance.
15.	As a relevant employer, I have wound up my ORSO registered scheme and informed the MPFA. Why do I still receive a Payment Advice on the periodic fee of my ORSO scheme from the MPFA?
	Answer:	Pursuant to section 29 of the Occupational Retirement Schemes Ordinance, a relevant employer and designated person of an ORSO registered scheme must give notice of the winding up of the scheme to the Registrar and to each member of the scheme, within 14 days of the commencement of the winding up or termination process. However, the MPFA will proceed to cancel the registration of the ORSO scheme only upon receiving the confirmation and any necessary documents to its satisfaction from the employer and designated person of the scheme. Before the deletion of the registration entry, the Payment Advice will continue to be sent to the employer.