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Legislation & Regulations

Circulars

MPF

19 March 2003

Circular Letter: SU/CTR/2003/002


To: All Approved Trustees of Registered Schemes


Dear Sirs,


Election Form for Transfer of Accrued Benefits


Pursuant to section 154(2) of the Mandatory Provident Fund Schemes (General) Regulation ("the Regulation"), the transferor trustee, after the completion of a transfer of accrued benefits, is required to give to the transferee trustee a copy of the transfer statement and a copy of the election form (Form MPF(S) - P(M) or Form MPF(S) - P(E)) completed by the transferor trustee.


It is noted that, in most of the cases, the transferor trustee has not added any information to the election form since receiving it from the transferee trustee under section 153(1) of the Regulation. The Authority is of the view that unless further information has been added to the election form by the transferor trustee, it is not necessary for the transferor trustee to give a copy of the election form to the transferee trustee, under section 154(2) of the Regulation.


For the avoidance of doubt, under section 153(1) of the Regulation, the transferee trustee is required to serve the election form on the transferor trustee after being notified of an election.


Should you have any question about the content of this circular letter, please feel free to contact your case officer at the Authority.


Yours faithfully,


(Hendena Yu)
Chief Operating Officer (Compliance)

Last Revision Date: 17/10/2014