Chapter 6: Interface Arrangements between ORSO and MPF

MPF Intermediaries Examination · Chapter 6: Interface Arrangements between ORSO and MPF

Q1 Free

Under the Occupational Retirement Schemes Ordinance (ORSO), which of the following schemes does NOT require an application for either ORSO registration or ORSO exemption?

A. An ORSO registered scheme that has applied for MPF exemption
B. An MPF scheme established under the MPFSO
C. An ORSO scheme voluntarily set up by an employer to provide retirement benefits to employees
D. An offshore scheme with HK permanent identity card-holding members below the prescribed limit

Show Answer

Correct Answer: B

Per section 6.1.2(a), schemes contained in or established by an ordinance other than ORSO (e.g. MPF schemes under the MPFSO) fall outside ORSO's ambit and need neither registration nor exemption.
Option D is an ORSO-exempted scheme that must still apply for exemption; A and D both require ORSO registration or exemption applications.

Q2 Free

Which of the following is a feature of an MPF scheme but NOT a mandatory feature of an ORSO scheme?

A. It can be either a defined contribution or defined benefit scheme
B. 100% vesting of the employer's mandatory contributions immediately
C. It is voluntarily established by the employer
D. The scheme may be governed by a law outside Hong Kong

Show Answer

Correct Answer: B

Per the comparison table in section 6.2, MPF requires 100% immediate vesting of the employer's mandatory contributions, whereas ORSO vesting depends on the scheme's governing rules.
Options A, B, D describe ORSO features (foreign-law governance possible, DC or DB, voluntary), not MPF features.

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Chapter 6: Interface Arrangements between ORSO and MPF

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