MPF Scheme definition
Examples of MPF Scheme in a sentence
The Trustee is the Trustee of the Principal MPF Scheme selected in the Application Form (the “Master Trust Scheme”).
The Group’s and employee’s contributions to the MPF Scheme are based on 5% of the relevant income of the relevant employee (up to a cap of monthly relevant income of HK$20,000) and in accordance with the requirements of the Mandatory Provident Fund Schemes Ordinance and related regulations.
The only obligation of the Group with respect of the MPF Scheme is to make the required contributions under the scheme.
The MPF Scheme is registered with the Mandatory Provident Fund Scheme Authority under the Mandatory Provident Fund Schemes Ordinance.
The level of contributions to be paid to the MPF Scheme will be as specified in the Mandatory Provident Fund Schemes Ordinance.
I hereby acknowledge that I have read and fully understand the MPF Scheme Brochure and all relevant information in connection with this Application, and all the information and documents submitted with this Application are true, accurate and complete.
Please refer to the Appendix 1 of the MPF Scheme Brochure for details of the credit risk, guarantee features and guarantee conditions of this constituent fund.
The assets of the MPF Scheme are held separately from those of the Group in funds under the control of independent trustees.
The Group maintains the MPF Scheme for all qualifying employees in Hong Kong.
Under the rules of the MPF Scheme, the Group contributes 5% of relevant payroll costs or HK$1,000 per month to the scheme which contribution is matched by the employee, depending on the length of service with the Group.