ORSO

Features

Contribution Requirements
Employers must make contributions for scheme members on or before the contribution day. Contribution details (including contribution rate and contribution due date) are determined by employers. 

Contributions

Contributions can be made solely by the employer, or by both the employer and the scheme member, depending on the terms of the scheme and (if the scheme is a defined benefit scheme) the recommendations in the actuarial certificate (if any).

Determination of Contribution Due Date (Only applicable to MPF-exempted ORSO registered schemes)


If a scheme has specified the date on which the employer should pay a contribution, the contribution due date will be the specified date.

 

If a scheme has not specified the date on which the employer should pay a contribution, the contribution due date for each relevant period will be:

 

  1. a day within the month following the end of the relevant period (i.e. the period in respect of which the contribution must be paid under the scheme’s contribution requirements), as specified in the statement sent by the employer to the designated person; or
  2. if not so specified, the 10th day after the relevant period.

Imposition of Contribution Surcharge and Recovery of Arrears(Only applicable to MPF-exempted ORSO registered schemes)


If an employer fails to pay a contribution before the contribution due date, MPFA will issue payment notices. Any contribution surcharge to be collected will be distributed among affected members.