Glossary

Note: The information contained herein is for reference only and the provisions in the relevant legislations shall prevail.

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Existing Members

An Existing Member is an employee who has become a member of the ORSO scheme on or before 1 December 2000.

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Final Average Monthly Relevant Income

Final average monthly relevant income means the member's relevant income per month averaged over:

  • If the member has been a member of the scheme for not less than 12 months after 1 December 2000, the period of 12 months immediately preceding; or
  • In any other case, the period from the date the member joined the scheme or 1 December 2000 (whichever is later),

To the date of the termination of his/her employment or the date on which he/she ceases to be a member or the date of the coming into effect of the withdrawal of the exemption certificate. The above period excludes any unpaid leave or maternity leave taken by the member pursuant to any enactment or contract.

Relevant income will be capped by the maximum level of HK$30,000 per month first before calculating the average.

Please also refer to "relevant income".

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New Eligible Employees

A new eligible employee is an employee who is eligible to join the ORSO scheme after the commencement date of the MPF.

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Years of Post-MPF Service

Years of post-MPF service in relation to a member of a relevant scheme, means the member's continuous years of service (including complete months of a year) from the date he/she joined the scheme or 1 December 2000, whichever is later, to the date of termination of his/her employment or the date on which he/she ceases to be a member or the date of the coming into effect of the withdrawal of exemption certificate.

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