I. Introduction to the MPF System
- Need for retirement protection and demographic challenges
- Development and role in Hong Kong's retirement framework
- Salient system characteristics
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II. Regulatory Framework
- MPFA and other regulators
- MPFSO, regulations, codes, guidelines and standards
- Regulation of MPF intermediaries
III. Key Features of the MPF System
- Asset security, service providers and scheme types
- Coverage, exempt persons and enrolment
- Mandatory, voluntary and tax-deductible voluntary contributions
- Vesting, preservation, portability and withdrawal
- Employer obligations and default contributions
IV. MPF Trustees
- Trust concept and fiduciary duties
- Trustee categories, approval, duties and monitoring
- Compliance, governance, sanctions and penalties
V. MPF Schemes and Investment
- Scheme and constituent-fund approval
- DIS and constituent-fund types
- Permissible investments and restrictions
- Fees, switching, disclosure and monitoring
VI. ORSO–MPF Interface
- Types and features of ORSO schemes
- Exemption criteria and post-MPF arrangements
- Existing members, new employees and ongoing requirements
VII. MPF Intermediaries
- Registration and frontline regulators
- Conduct and other ongoing requirements
- Complaints, supervision, discipline and appeals
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Mandatory Provident Fund Schemes Examination1 / 20
Which are salient characteristics of the MPF System? I. Employment-based II. Privately managed III. Fully funded IV. Voluntary for every covered employee
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