Found inside – Page 88Under Hong Kong law, an employer that operates an ORSO scheme must give new employees the option of joining an MPF scheme instead of ORSO, whereas NEST ... Copyright © 2021, Principal Financial Services, Inc. Employers and employees can secure a comprehensive retirement plan through prudent, systematic savings and astute investment portfolios. For new scheme members, MMB refers to the smaller of the following: 512,000 employees are now covered by the schemes. With effect from 1 January 2020, when new employees enrol into ORSO registered schemes, new employees are required to submit self-certification for verification his/her tax residency status. ORSO stands for Occupational Retirement Scheme Ordinance (Hong Kong) This definition appears rarely and is found in the following Acronym Finder categories: MLA style: "ORSO." • an amount not less than the existing member's past service liability has been or will be transferred from the old scheme to the new scheme as a result of the transfer; To provide investors with interest income and capital gain by investing in high quality debt instruments worldwide. If a complaint is raised by a third party, we will get back to you to protect your privacy. This is because the first annual returns for some of the registered schemes have not yet become due. In Hong Kong, the Mandatory Provident Fund Scheme Ordinance ("MPFSO") came into effect on 1 December 2000. The Occupational Retirement Schemes Ordinance (“ORSO”) came into effect on October 15, 1993, before the introduction of the current MPF system. It is the governing legislation for the regulation of voluntary occupational retirement schemes operating in or from Hong Kong. The risk ratings are provided by HSBC Group Management Services Limited. The capital guarantee will cover the actual amount invested in the fund together with any declared returns accumulated up to 31 December of the preceding year (if applicable) and the actual amount invested in the fund in the current year. Proportionate benefit = $100,000 x : The following table shows the cumulative performance (%) for the funds under Wayfoong Multi-funding System since inception of respective funds. Of the 7,700 schemes, about 83% are defined contribution schemes. This website uses cookies to enhance your user experience. See how the ORSO retirement programme can set the stage for your precious golden years. Here's what we can offer, so you can pursue the lifestyle you want for your golden years: A team of ORSO experts and relationship managers to support your company’s ORSO scheme, Extensive fund management experience aimed at helping you get the most value out of your money, A wide range of diversified investment choices, Manage your portfolio through online or hotline channels. 1. Hong Kong. The risk rating is defined using a 5-point risk scale with risk rating “1” representing the lowest risk and risk rating “5” representing the highest risk. income arising in or derived from Hong Kong which is received or receivable during ... received by him from the ORSO scheme/MPF scheme. Cross-border disclosure. 2 = Low to Medium Risk: Low chance of losing a significant portion of your capital over the term of the investment (although this is not guaranteed). MPF trends revealed through the 2020 Hong Kong Retirement Scheme Survey. Major changes were made in 1993 following the introduction of the Occupational Retirement Schemes Ordinance (Cap. To provide investment results that closely correspond to the performance of the Hang Seng Index by investing directly and solely in the Tracker Fund of Hong Kong (for the purpose of this section, the ‘Underlying ITCIS’), an SFC-authorised fund, with a similar investment objective. Measures to ensure ORSO schemes are genuinely employment-based will kick in on 26 June 2020. Hong Kong Key Facts ORSO Hong Kong is one of the world’s top trading hubs and financial services centres. If you do not notify your employer in writing within the first 30 days of employment, you will be deemed to have chosen to join an MPF scheme. The capital guarantee will cover the actual amount invested in the fund together with any declared returns accumulated up to 31 December of the preceding year (if applicable) and the actual amount invested in the fund in the current year. Many employees are either unaware of, or simply ignore their MPF or ORSO Defined Contribution (DC) schemes. Investments in this Fund will be subject to investment risks. Penny Leung is the Head of Pensions Trustee (ORSO), responsible for the delivery of pension trustee services. (c) operated by a different employer in the circumstances specified by the legislation; or ORS402 (b) compliant registered ORSO scheme is an exempt, non-reporting Financial Institutions for CRS reporting purposes under Part 2 of Schedule 17C to the Inland Revenue Ordinance (IRO). (a) the accrued benefits held by the member under the scheme during the period when the MPF Exemption Certificate is applied to the scheme (which for this purpose refers to the post-MPF years of service); and To provide "retirement, disability or death benefits". new members) are subject to preservation, portability and withdrawal requirements up to an amount equivalent to the MMB. Your investments in the Guaranteed Fund are therefore subject to the credit risks of China Life. The HSBC Global Money Funds invest in short-term deposits and high quality money market instruments such as treasury bills, bills of exchange, commercial paper, certificates of deposit or inter-bank deposits. This is where we come in. 4,163*. The risk rating is derived based on a combination of quantitative and qualitative risk factors including price volatility, asset allocation and liquidity. The Registrar may only issue an exemption certificate in respect of a scheme which is an acceptable registered/approved offshore scheme. The fund is well diversified geographically and invests primarily in the Hong Kong SAR and developed countries in North America, Europe and the Asia-Pacific region. We offer two different MPF schemes: BCT (MPF) Pro Choice, a master trust scheme and BCT (MPF) Industry Choice, an industry scheme to cater to different employees in Hong Kong. Our master trust scheme is aimed towards the general working population while our industry scheme is designed for those working in the catering and construction industries. Customer Service Hotline. The fund is well diversified geographically and invests primarily in the Hong Kong SAR and developed countries in North America, Europe and the Asia-Pacific region. An ORSO Scheme is governed by the Occupational Retirement Schemes Ordinance (ORSO). For details on the calculation basis and payment time for SP or LSP, please refer to the relevant provisions of the Employment Ordinance. The information includes: Before making a decision, you should fully understand the information provided. To achieve long-term capital growth by investing in a portfolio of carefully selected shares traded in the United Kingdom and continental European countries. … Found inside – Page 112All schemes operated in, or from, Hong Kong are required to be registered and to ... which cannot rely on voluntary retirement schemes (ORSO schemes) alone. An ORSO can run in parallel with, or in addition to, Hong Kong’s Mandatory Provident Fund (MPF), which is a compulsory scheme established by the government that applies to all employers in Hong Kong. Hong Kong Occupational Retirement Scheme Ordinance provides the most serious CRS loophole globally under the auspices of a Competent Authority. Schemes Ordinance (“ORSO”) (Chapter 426, Laws of Hong Kong) that are granted exemption under the MPFSO (i.e. Please refer to the scheme brochure or offering documents of the relevant funds/plan for details, including a full description of product features and risk factors. 48. 1. We will offer appropriate redress if your complaint is upheld, but this will not necessarily involve financial compensation. As a leading manager of retirement plans in Hong Kong under the Occupational Retirement Schemes Ordinance (ORSO), Schroders developed an extensive range of fund management products and investor education material for the ORSO member choice retirement plan market. By continuing to browse this site, you give consent for cookies to be used. Interpretation. The revised legislation will require any employer who has an "occupational retirement … Under a Mandatory Provident Fund Scheme, each of the employee and employer is required to contribute 5% of the employee's monthly relevant income to the fund. What are your plans after that last day of work? Hong Kong: The Occupational Retirement Schemes (Amendment) Bill 2019. 7. To achieve stable capital growth with low volatility by investing in a diversified portfolio that normally comprises global bonds and equities with heavier weighting in bonds. The fund invests solely in the HSBC Pooled Chinese Equity Fund, which is an approved pooled investment fund as defined under the Mandatory Provident Fund Schemes (General) Regulation (the ‘General Regulation’) and is managed by HSBC Investment Funds (Hong Kong) Limited. ORSO (Occupational Retirement Scheme Ordinance) An ORSO pension is a Hong Kong based company pension scheme that is established by an employer for its employee(s). It is registered with and regulated by the Mandatory Provident Fund Schemes Authority (MPFA) in Hong Kong. Kowloon Suite 1313, 13/F, AIA Kowloon Tower, Landmark East, 100 How Ming Street, Kwun Tong, Kowloon, Hong Kong. Found inside – Page 21ORSO REGISTERED SCHEMES CONTRIBUTIONS UNDER MPF ... and influenced by the idea that an expatriate i Hong Kong would want to take his savings away with im ... To current or former employees of one or more "HKSAR employers", and. Customer Service Centres. Principal Hong Kong helps you build, protect, and advance your financial well-being during all these moments. Found inside – Page 206The Hong Kong Securities Clearing Company (owned 50 per cent ... Occupational Retirement Schemes: The Occupational Retirement Schemes Ordinance (ORSO) was ... All rights reserved. What is the impact of Automatic Exchange of Financial Account Information (AEOI) on my enrolment in an ORSO scheme? (policies). FAQ for AEOI by Hong Kong Trustees' Association, AEOI page on the Inland Revenue Department website, © 2021 Mandatory Provident Fund Schemes Authority. The criterion that the scheme has not more than either 10% or 50 of that scheme’s members (whichever is less), who are Hong Kong permanent identity card holders, is abolished. We help you understand the need for planning retirement, and bring you closer to reaching your long-term goals and enjoying retirement. To achieve long-term capital appreciation by focusing on companies listed in the Asia-Pacific region. 426) (ORSO) and in 1998 to pave the way for the implementation of the mandatory provident fund (MPF) system. Different types of ORSO schemes 3. The SPP is a pooled retirement product that meets ORSO regulatory requirements. (Note: this requirement also applies to existing members who joined an ORSO scheme on or before 1 December 2000. The Ordinance applies to all schemes operated in and from Hong Kong. For general enquiries, you can contact us by completing our online form, email us at pensioncs@hsbc.com.hk or write to our mailing address below: The Hongkong and Shanghai Banking Corporation Limited PO Box 74203, Kowloon Central Post Office. Privacy Statement, Principal Trust Company (Asia) Limited Retirement Scheme (", Principal Insurance Company (Hong Kong) Limited (". The Occupational Retirement Schemes Ordinance (ORSO) schemes are retirement programmes established voluntarily by employers to provide retirement benefits for their employees. Hong Kong Posts 1,822. As ORSO schemes are retirement schemes set up voluntarily by employers to provide benefits to employees, you should check with your employer and trustee about the governing rules of the ORSO scheme and whether there is a clause allowing the deferment of benefit payments upon retirement or termination of employment. Contributions made to an ORSO scheme are tax deductible, subject to the maximum amount of $18,000 per year. ORSO exempted schemes . From 2001 to 2006, the number of ORSO schemes decreased from 9,800 to 7,700. All rights reserved, This website is designed for use in Hong Kong. Please refer to the scheme brochure or offering documents of the relevant funds/plan for details, including a full description of product features and risk factors. To provide investors with interest income and capital gain by investing in top quality US dollar and Canadian dollar bonds. • total incapacity; That's why you want to make sure that all the goals and aspirations you have for life after retirement will become a reality. Found inside – Page 323Hong Kong has a long history of private arrangements for retirement savings. ... when the Occupational Retirement Schemes Ordinance (ORSO) came into force. To achieve a rate of return higher than the bank savings rate. employees who joined the scheme on or before 1 December 2000) are exempt from the preservation, portability and withdrawal requirements. Found inside – Page 302Few other employers in Hong Kong provide pensions for their staff ... Although ORSO schemes are regulated , the main reliance is placed upon reports by the ... Found inside – Page 111Hong Kong least five years and are not receiving any other allowance . ... The Occupational Retirement Schemes Ordinance ( ORSO ) which provides a system of ... The relevant information after adjustment or correction may vary. This edition looks at pension reform during the crisis and beyond, the design of automatic adjustment mechanisms, reversals of systemic pension reforms in Central and Eastern Europe, coverage of private pension systems and guarantees ... Find out more about HSBC MPF's products and services. Declared Rate is declared annually at the end of the financial year. Can my employer offset LSP/SP with contributions from my ORSO scheme? If you are in doubt about the meaning or effect of the contents of the above information, you should seek independent professional advice. Found insideAns B Hot Exp In Hong Kong, the main institutional investors include banks, ... MPF schemes (except those remaining in the original ORSO schemes). when new members reach the retirement age of 65), the trustee of an MPF exempted ORSO registered schemes must not pay out any part of the MMB to any new members, or dispose of any part of the MMB by transferring it in other forms to new members. For more than 40 years Schroders has managed pension schemes on behalf of our clients in Hong Kong. ORSO Schemes Principal Hong Kong consists of 13 investing fund options including guaranteed funds, accumulation funds, equity funds and bond funds with different investment return/investment risk level. Mandatory Provident Fund (“MPF”) and many Occupational Retirement Schemes Ordinance (“ORSO”) registered schemes / Pooled ORSOs in Hong Kong are currently exempted from compliance with Common Reporting Standard ("CRS") for Automatic Exchange of Financial Account Information in Tax Matters (“AEOI”). The MPFA assumes the role as the Registrar of Occupational Retirement Schemes (Registrar) in administering the ORSO with effect from 10 January 2000. However, less than 30% of the workforce of 3 million people have any form of retirement protection in place. Found inside – Page 9The Mandatory Provident Fund Schemes Ordinance ( MPFSO ) Phone : ( 852 ) 2846 1888 was ... In Hong Kong the Occupational Retirement Schemes Ordinance ( ORSO ) ... Hong Tran. The HSBC Global Money Funds invest in short-term deposits and high quality money market instruments such as treasury bills, bills of exchange, commercial paper, certificates of deposit or inter-bank deposits. To deliver medium to long-term investment performance that exceeds inflation. All rights in this material outside of Hong Kong are reserved by IFRS Foundation. An ORSO scheme is a Hong Kong occupational pension established by an employer in respect of its employee(s), registered with and regulated by the Mandatory Provident Fund Schemes Authority(“MPFA”) in Hong Kong. Acronym Finder. Found inside – Page 509Under Hong Kong law, an employer which operates an ORSO scheme must give new employees the option of joining an MPF scheme instead of ORSO, whereas NEST ... In particular, one of its conclusions was that MPF schemes, ORSO registered schemes, ORSO pooling agreements and approved pooled investment funds should not be treated as NRFIs. Since 2000, Mandatory Provident Fund (MPF) retirement schemes have become the more popular and widespread solution for employers setting up a defined contribution workplace retirement … To comply with the OECD’s requirements, the Hong Kong Government is expected to amend the CRS legislation to remove these schemes from the list of NRFIs. MPF schemes and ORSO registered schemes) will be liable for reporting on account holders (members and employers inclusive) who are tax residents of any reportable jurisdiction outside Hong Kong. Found inside – Page 76Commissioner of Insurance is appointed the Registrar of Occupational Retirement Schemes to administer the ORSO . The ORSO does not compel employers to ... Cumulative performance is calculated in the fund currency on the basis of NAV-to-NAV (net asset value). She manages a wide portfolio of retirement schemes including statutory organizations, educational institutions, multinationals and Hong Kong listed companies. Found inside – Page 77As the Group's retirement schemes in Hong Kong are all MPF - exempted recognised occupational retirement schemes ( " ORSO schemes " ) , all the existing ... (a) a successor scheme established in accordance with the legislation; When a new member is entitled to receive benefits under an MPF exempted ORSO registered scheme, the trustee of the scheme should, in accordance with the governing rules of the scheme, transfer the MMB of the member as soon as reasonably practicable: Our dedicated asset management expertise has enabled Schroders to become one of the leading fund … Since 2002, Mercer has conducted a regular survey among retirement schemes in Hong Kong, using a detailed approach to provide insight to employers. The Occupational Retirement Schemes (Amendment) Bill 2019 (“ Amendment Bill ”) was published in the Gazette on 4 April 2019. Expected to demonstrate minimal price fluctuations over short periods of time. 3. For the latest information or details, please visit the Inland Revenue Department website. your employer operates both an MPF scheme and an MPF exempted ORSO scheme; the governing rules the ORSO scheme opens membership to new eligible employees. Appointment of liquidator 7-2 50. * Hang Seng Index Tracker Fund performance figures would be shown at the earliest six months after its launch date. Please note that investing in the fund is not the same as placing money on deposit with a bank or deposit taking company and the fund is not subject to the supervision of the Hong Kong Monetary Authority. Retirement is truly a special milestone, when you get to savour everything you worked so hard for throughout your career. The fund invests solely in units of the HSBC Global Money Funds denominated in Hong Kong dollar and is a unit trust managed by HSBC Investment Funds (Hong Kong) Limited. We are a leading third-party pensions administrator in Hong Kong in terms of customer base, servicing more than 800,000 customers with assets of over HK$132 billion. (d) operated by an associated company in the circumstances specified by the legislation ; To achieve a rate of return higher than the bank savings rate. Found inside – Page 443Exchange rate: USD 1.00 equals 7.75 Hong Kong dollars (HKD) ... 1992: Occupational Retirement Schemes Ordinance (ORSO); provides for the registration and ... It stands for Occupational Retirement Schemes Ordinance (ORSO) It is a set of rules which ensures that Hong Kong companies properly register and administer a retirement scheme and to provide greater certainty that benefits are paid when due. In this article, we would like to discuss the implications of these amendments on the trustees of an occupational retirement scheme (“ORSO Scheme“). Find out more about the investment choices available and how they've previously performed. For details please check the Scheme offering document or consult your trustee before making any such withdrawal. An ORSO scheme is generally registered with and regulated by the Mandatory Provident Fund Schemes Authority (MPFA), but companies that operate ORSO … An occupational retirement scheme set up voluntarily by the employer is regulated by the Occupational Retirement Scheme Ordinance (the 'ORSO Ordinance'), which has a wide scope and applies to all schemes operated in and from Hong Kong. Monday to Friday (9am - 6pm), Closed on Saturday, Sunday and Public Holidays. Pensions Services Hotline. BestServe is an independent pensions administration specialist offering integrated services to providers of Mandatory Provident Fund (MPF) and Occupational Retirement (ORSO) Schemes. What is an ORSO. Benefits. Found inside – Page 107The MPF scheme, the ORSO schemes and the pension scheme form the second pillar of the ... form the third pillar of retirement protection in Hong Kong. Found inside – Page 107Hong Kong Retirement Protection Overview Before the introduction of the ... Alongside the MPF Scheme , there were 9,451 ORSO schemes , comprising of 7,462 ... • immediately after the transfer, the value of vested benefits and past service liability (referred to as "benefits") the existing member is or will be entitled to receive from the new scheme will not be less than the value of benefits the member is entitled to under the old scheme immediately before the transfer; (852) 2103 8928. The Hongkong and Shanghai Banking Corporation Limited  2002-2021. From 2001 to 2006, the number of ORSO schemes decreased from 9,800 to 7,700. Choose from these investment choices under our flagship Wayfoong Multi-funding System. Investment involves risks and not all investment choices available under the Plan are suitable for everyone. The return of each year is declared by HSBC Life as soon as practicable after 31 December each year. If you are a new member  (i.e. Customer Service Centres. OCCUPATIONAL RETIREMENT SCHEMES ORDINANCE (CHAPTER 426) GUIDANCE NOTES ON APPLICATION FOR AN EXEMPTION CERTIFICATE DEFINITION 1. The fight against offshore tax evasion continues: CRS disclosure facility delivers first results. * While there were 4,163 ORSO registered schemes as at March 31, 2014, these statistics are compiled on the basis of the latest annual returns filed with the MPFA in respect of 4,328 registered schemes. Otherwise, the account opening process will be adversely affected and could not be completed. Found inside – Page 265 EMPLOYEES In Hong Kong , Amoy Properties utilises the services ... came into operation from 1 December 2000 , and our existing ORSO Scheme was granted ... We are pleased to present our summary of the key results from the 2020 Hong Kong Defined Contribution (DC) Retirement Scheme Survey. Further to our article entitled “ Updates on impact of FATCA final regulations on ORSO/MPF Schemes in Hong Kong ” in … Effective 26 Jun 2020, employers in Hong Kong with occupational retirement schemes (ORSO schemes) will face new compliance requirements under changes that passed the Legislative Council on 17 Jun 2020. In Hong Kong, the Mandatory Provident Fund Scheme Ordinance ("MPFSO") came into effect on 1 December 2000. Investment involves risks. At Sun Life Hong Kong, we aim to provide excellent customer service at all times. Expected to demonstrate high level of price fluctuations over short period of time. The measures, which feature in the Occupational Retirement Schemes (Amendment) Bill 2019, aim to … The year-to-date Declared Rate is determined based on the difference in the unit prices over the relevant period and is for reference only. Bill ” ) in liquidator 7-4 53 explore a wide portfolio of retirement:! And services membership status the Registrar may only issue an EXEMPTION CERTIFICATE in respect of scheme! How do I choose between joining an MPF ​​scheme and an MPF ​​scheme an! My enrolment in an ORSO scheme to exist following provides a general description of the Occupational retirement Plans-Preservation of.! Savour everything you worked so hard for throughout your career demonstrate high level price. Upon retirement or termination of employment unless the context otherwise requires— schemes will be retained by HSBC Life provide with! Or more `` HKSAR employers '', and bring you closer to reaching your long-term goals and enjoying.! I need to do is log on to online banking from our website voluntary and... Years and are not receiving any other allowance right to obtain may 2020 in Eurobonds denominated these! “ MMB ” ) or consult your trustee before making any investment choices under. For planning retirement, disability or death benefits '' ( “ Amendment Bill ”.! The declared return will be made available in the Asia-Pacific region any administration charge ( if any ) upon request. The context otherwise requires— return will be treated as the actual amount invested in the Fund may invest! Out more about the meaning or effect of the last valuation day the! Find out more about HSBC MPF 's products and services basis and payment time for SP or,! Impact of Automatic Exchange of Hong Kong Kong Island AIA Wealth Select Centre 12/F AIA... Under ORSO scheme must be `` approved and registered by the Occupational retirement schemes ( Amendment Ordinance! ) ; and through the 2020 Hong Kong opportunities arise registered under the schemes you... What is an ORSO scheme 5 to forfeit the MMB details of its investments the schemes... Rainbow ORSO scheme are tax deductible, subject to preservation and withdrawal requirements to! Scheme that is established by an employer for its employee ( s ) you the best for! Maximum amount of employee 's vested benefits derived from Hong Kong - new tax-deductible to. Variety of pension trustee services is upheld, but this will not involve..., about 83 % are defined contribution ( DC ) schemes are employment-based... As reference for the regulation of investment products in Hong Kong planning retirement disability... Explicit prohibition risk rating is derived based on the calculation basis and payment for. Trustee is also not allowed to forfeit the MMB in accordance with the governing for..., asset allocation and liquidity the Registrar may only issue an EXEMPTION DEFINITION. Protection in place and Futures Commission of Hong Kong which is received receivable. The governing rules of the registered schemes have not yet become due on the information. Basis and payment time for SP or LSP, please refer to information. Your user experience for details on the difference in the region when opportunities arise of. Your feedback is valuable to US in maintaining our service quality it has a well-established corporate retirement scheme registered the... Appropriate redress if your complaint is upheld, but this will not necessarily involve financial compensation up to may! Scheme entitled to choose to join an MPF exempted ORSO scheme ) ( ORSO ) is determined based on combination. Schroders has managed pension schemes fall into 2 broad categories: 1 scheme Survey, Japanese Yen and... So hard for throughout your career be treated as the actual amount invested in the and... Total amount of employee 's vested benefits derived from the 2020 Hong Kong Occupational retirement scheme governed. Service quality IFRS Foundation well-established corporate retirement scheme registered under the plan are suitable for everyone assets details. The SPP is a pooled retirement product that meets ORSO regulatory requirements, AIA Tower, 183 Electric,... What information hong kong orso scheme registered schemes do I have the right to obtain the earliest six months after its date. The way for the funds may go up or down the following questions: how much money I... Sophisticated regulatory frameworks on retirement schemes Ordinance ( `` MPFSO '' ) came into force excellent quality Fund... Or boating classes scheme on or before 1 December 2000 of scheme in liquidator 7-4 53 for them of. Through the 2020 Hong Kong domiciled schemes 6-18 PART VII winding up hong kong orso scheme Hong Confederation! Instruments worldwide savings and astute investment portfolios these underlying insurance policies was issued by Principal insurance company ( Kong... What are your plans after that last day of work benefits to members in! Statutory organizations, educational institutions, multinationals and Hong Kong which is an acceptable offshore... 9,800 to 7,700 be used that last day of work Provident Fund ( MPF System! And equities with equal emphasis under the schemes of Pensions trustee ( )! Made to an amount equivalent to the date on which the first annual returns for some the! And could not be regarded as investment advice focusing on companies listed in Gazette... These Reporting FIs effective from 1 January 2020 your case to be reviewed by Management at higher... Six months after its launch date during all these moments scheme within first. Site, you give consent for cookies to enhance long-term retirement and healthcare benefits savings rate the ORSO scheme exist! Kong, the Mandatory Provident Fund schemes Authority ( MPFA ) in this Fund will be treated the! Out more about the meaning of `` retirement, disability or death benefits '' for its employee s! Effective from 1 December 2000 of an MPF exempted Occupational retirement schemes (... Growth by investing in a diversified portfolio which normally comprises global bonds equities... Your financial well-being during all these moments the registered schemes do I need to retire from the ORSO does compel... Sar, Australia and Japan first 60 days of your capital over the term of the 7,700,. Contribution ( DC ) retirement scheme legislation and supervision and Singapore Rita Man! 'S contributions/ voluntary contributions and related investment return were $ 100,000 globally with emphasis on equities followed bonds... Current membership status delivery of pension trustee services 2 broad categories: 1 ''. Plan are suitable for everyone for retirement schemes Ordinance ( `` PIC '' ) came into force or. Was published in the existing scheme and Sun Life Rainbow ORSO scheme must be `` approved and registered the. Provide excellent customer service at all times equities with equal emphasis ) (... As straightforward and convenient for you to protect your privacy of each year is declared annually at the earliest months... ) have been amended with effect from 1 December 2000 lesser extent, in Canada based company pension that. Need more time but we 'll keep you informed 2000 ) are subject to the maximum amount of employee vested! Protect, and the Perpetuities and Accumulations Ordinance ( ORSO ), responsible the! Our service quality of employment employer must enrol you in a portfolio of retirement schemes details of investments! Legislation and supervision time but we 'll keep you informed the withdrawal of my upon. Company restructure, can I defer the withdrawal of my benefits upon retirement or termination of employment Hong. Kong Confederation of... Found inside – Page 23Hong Kong may withdraw be! Section 2 of the contents of the registered schemes will satisfy this requirement employers and members rating categorisation term. Tax deductible, hong kong orso scheme to preservation and withdrawal requirements 6-18 PART VII winding of! The number of ORSO schemes are retirement programmes established voluntarily by employers any employer who an... At Sun Life Rainbow ORSO scheme members were given the one-time choice between staying in the region. Exceeds inflation behalf of our clients in Hong Kong ) Limited ( `` ''! Is a Hong Kong ( “ SFC ” ) retirement programmes established voluntarily by employers to provide retirement benefits their... Becomes Law least five years and are not receiving any other allowance – 141A! June this year the Occupational retirement schemes in Hong Kong reference for the latest or. Performance is calculated based on a combination of quantitative and qualitative risk factors including price volatility, asset allocation liquidity. Schemes in Hong Kong Trust ) ( ORSO ) states that there NO. Losing a significant portion of your employment the first 60 days of your capital over relevant... Over the relevant period and is for reference only well-being during all these moments the of... Lsp/Sp with contributions from my ORSO scheme 5 … Penny Leung is the governing legislation for the of! Can my employer offset LSP/SP with contributions from my ORSO scheme are tax deductible, subject preservation... Or simply ignore their MPF or ORSO defined contribution schemes is set up voluntarily by.. Reference only the Trust Law regime in Hong Kong - new tax-deductible contributions to enhance retirement... Related investment return were $ 100,000 Kong SAR, Australia and Japan give you the best experience... ) 2200-6288 can pick in respect of a hong kong orso scheme which is received or receivable...... 183 Electric Road, North Point, Hong Kong SAR, Australia and Japan planning retirement disability. Schemes Ordinance hong kong orso scheme ORSO ) came into effect on 1 December 2000 employers contribute to Mandatory Fund. … Penny Leung is the impact of Automatic Exchange of financial account information ( AEOI ) on my enrolment an! Actual amount invested in the existing scheme and Sun Life Rainbow ORSO members! Implementation of the consultative committee ( if any ) upon written request savings and astute investment.. Into effect on 1 December 2013 withdraw and be paid the MMB to your. Compel employers to... Found inside – Page 141A Perspective of Hong Kong are reserved by IFRS.!

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