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ORSO at a Glance

ORSO and your business

The Occupational Retirement Schemes Ordinance (“ORSO”) came into effect on October 15, 1993, before the introduction of the current MPF system. It is the governing legislation for the regulation of voluntary occupational retirement schemes operating in or from Hong Kong. It offers two categories of retirement plans: defined contribution schemes and defined benefit schemes. Often such plans are used by businesses in Hong Kong to enhance employee recruitment and retention, while looking after the retirement benefits of their key employees.

Manulife understands that ORSO administration can be complicated. After all, we have been managing pension schemes since 1936. It requires groups of dedicated specialists and experts to deliver and manage ORSO plans. With our long track record and dedicated group of ORSO specialists, Manulife can help ease your administrative burden.

The VHIS Office recently discovered a translation error in the Chinese version of the Schedule of Surgical Procedures of the Certified Plan Policy Template. In the fracture/dislocation section of the Surgical Schedule, “clavicle” on the 8th and 12th items was mistranslated as “scapula” and “scapula” on the 13th item was mistranslated as “clavicle”. Manulife has reviewed and revised the relevant product information of Manulife’s VHIS certified plans upon the VHIS Office’s request, and has revised the Chinese version of the certified plans’ policy provisions accordingly. The English version of the policy provisions is not affected. For any enquiries, please contact Manulife’s service hotline at 2108 1188.

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The VHIS Office recently discovered a translation error in the Chinese version of the Schedule of Surgical Procedures of the Certified Plan Policy Template. In the fracture/dislocation section of the Surgical Schedule, “clavicle” on the 8th and 12th items was mistranslated as “scapula” and “scapula” on the 13th item was mistranslated as “clavicle”. Manulife has reviewed and revised the relevant product information of Manulife’s VHIS certified plans upon the VHIS Office’s request, and has revised the Chinese version of the certified plans’ policy provisions accordingly. The English version of the policy provisions is not affected. For any enquiries, please contact Manulife’s service hotline at 2108 1188.

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