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Application for Approval of Appointment / Retirement of Trustee

*applicable to MPF exempted ORSO registered schemes only

Under the Exemption Regulation, the person who has the duty or power to retire or appoint the trustee (be it a corporate trustee or an individual trustee) shall obtain the MPFA’s prior written approval before retiring or appointing the trustee. The same applies to the retirement or appointment of a director to a trustee which is a company. The MPFA’s approval must be obtained before the retirement or appointment of a director of the trustee unless the trustee is:

a company registered as a trust company under the Trustee Ordinance of Hong Kong (“RTC”); or
a trust company incorporated outside Hong Kong is comparable to an RTC and has a significant presence and control in Hong Kong.

As a matter of policy, a trustee is exempt from these prior approval requirements if the trustee is an RTC.

Please remember to allow sufficient time for the processing of applications (at least one month), and that the date of retirement or appointment must not be earlier than the date of approval given by the MPFA.

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Pre-approval for the appointment of trustee

To obtain prior approval for the appointment of trustee which is a company and not an RTC, please follow the steps below:

Step 1

The person who has the duty or power to appoint the trustee of a scheme shall apply in writing to the MPFA to obtain approval before appointing the trustee.

Step 2

The newly appointed trustee is required to apply for approval of appointment of trustee. Please read the guidelines before completing the form:

Guidelines V.6

Specified form	Submitted by
Application for approval of appointment of trustee (for applicant which is a company) (OI-TC)	Trustee

Note: The MPFA may require other documents subject to circumstances.

Application Fee:

An application fee of $11,800 is payable for each application for the appointment of trustee which is a company and not an RTC. Payment should be made by sending a paper crossed cheque, bank draft or e-cheque in HK dollar made payable to “MPFA Administration Account” and provided together with the application form. Payment by e-cheque should be made via the e-Cheque Collection Portal.

Pre-approval for the Retirement of Trustee:

There is no prescribed form for the application for approval for the retirement of a trustee. The person who has the duty or power to retire the trustee of a scheme shall apply in writing to obtain the MPFA's approval before retiring the trustee. The application shall specify the name of the retiring trustee and the effective date of retirement.

In connection with the application for approval of the appointment and/or the retirement of the trustee of the ORSO scheme, the relevant employer of the ORSO scheme is required to notify the MPFA of any change of the administrator (i.e. trustee) within one month of the change. For details, please refer to Change of Scheme Particulars: e. Change of administrator of a registered scheme (Form ORS-9).

Download a Quick Reference Guide

Pre-approval for the appointment of trustee

To obtain prior approval for the appointment of trustee who is an individual, please follow the steps below:

Step 1

The person who has the duty or power to appoint the trustee of a scheme shall apply in writing to the MPFA to obtain approval before appointing the trustee.

Step 2

The newly appointed trustee is required to apply for approval of appointment of trustee. Please read the guidelines before completing the form:

Guidelines V.6

Specified form	Submitted by
Application for approval of appointment of trustee (for applicant who is a natural person) (OI-TI)	Trustee

The trustee to be appointed is required to provide the following documents and application fee together with the completed form:

Note: The MPFA may require other documents subject to circumstances.

Application Fee:

An application fee of $5,100 is payable for each application for the appointment of trustee who is a natural person. Payment should be made by sending a paper crossed cheque, bank draft or e-cheque in HK dollar made payable to “MPFA Administration Account”. Payment by e-cheque should be made via the e-Cheque Collection Portal.

Pre-approval for the retirement of trustee

In connection with the application for approval of the appointment or retirement of the trustees of the ORSO Scheme, the relevant employer of the ORSO scheme is required to notify the MPFA of any change of the administrator (i.e. trustee) within one month of the change. For details, please refer to Change of Scheme Particulars: Change of administrator of a registered scheme (Form ORS-9).

Pre-approval for the appointment of directors of trustee:

To obtain prior approval for the appointment of directors of trustee, please follow the steps below:

Step 1

For a trustee which is a company and not an RTC or a trustee which is a company incorporated outside Hong Kong and not comparable to a RTC, the trustee shall obtain the MPFA’s approval in writing before appointing the director of trustee.

Step 2

The new director of trustee to be appointed is required to make an application for approval of appointment of the director of trustee. Please read the guidelines before completing the form:

Guidelines V.7

Specified form	Submitted by
Application for approval of appointment of director of trustee (OI-D)	Director of Trustee

The director of trustee to be appointed is required to provide the following documents and application fee together with the completed form:

Note: The MPFA may require other documents subject to circumstances.

Application Fee:

An application fee of $5,100 is payable for each application for the appointment of director of trustee. Payment should be made by sending a paper crossed cheque, bank draft or e-cheque in HK dollar made payable to “MPFA Administration Account”. Payment by e-cheque should be made via the e-Cheque Collection Portal.

Pre-approval for the retirement of directors of trustee:

There is no prescribed form for the application for approval for the retirement of a director of trustee. An application in writing to the MPFA by the trustee specifying the name of the retiring director and the effective date of retirement signed by the trustee will suffice.

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