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Applications for MPF Industry Schemes
At the closing of the submission of applications for the registration of MPF Industry Schemes today (Tuesday), the Mandatory Provident Fund Schemes Authority (MPFA) received applications from 5 approved corporate trustees.
Under the MPF System, Industry Schemes are specially designed for industries with high intra-industry labour mobility to help reduce the portability costs incurred by employees when they change jobs.
The construction and catering industries are the two industries to be covered by the Industry Schemes.
The Hon. Charles LEE Yeh-kwong, Chairman of the MPFA, said, "The applications will be assessed by the MPFA's Industry Schemes Selection Board and we expect to announce the results by March 2000."
"This will allow sufficient time for the successful bidders to make necessary preparation for scheme enrolment before the MPF System commences by December 2000," added Mr. Lee.
End/Tuesday, November 30, 1999
