| Date | Context | Summary of development | Action
|
|---|
| 26.7.95 & 27.7.95
| CM
| The Council passed the Mandatory Provident Fund Scheme Bill. [Hansard (26.7.95) "page 303"] [Hansard (27.7.95) "page 8"]
|
|
| 13.12.95
| CM
| Hon LEE Cheuk-yan moved a motion on Old Age Pension Scheme. The motion was carried. [Hansard "page 161"]
|
|
| 13.12.95
| ESC
| ESC considered the proposed creation of four supernumerary directorate posts and increase in establishment ceiling of the Financial Services Branch to permit the creation of 20 non-directorate posts to proceed with the preparation of subsidiary legislation of the Mandatory Provident Fund (MPF) Schemes Ordinance and other urgent tasks related to the development of the MPF System. The item was withdrawn by the Administration and subsequently submitted directly to the Finance Committee (FC) on 9.2.96. [Paper] [Minutes]
|
|
| 9.2.96
| FC
| FC approved the proposed commitment to set up a MPF Office. [Paper]
|
|
| 11/96 to 6/97
| SUBC
| At the meeting on 8.11.96, the House Committee (HC) considered the Financial Affairs Panel's (FA Panel) report on MPF System and supported the Panel's recommendation to set up a subcommittee under HC to study the MPF System. [Minutes]
The Subcommittee on MPF System held 23 meetings [Subcommittee on MPF System] and reported its deliberations to HC on 6.6.97. [Minutes]
|
|
| 29.1.97
| ESC
| ESC negatived the proposed retention of four directorate supernumerary posts in the Financial Services Branch for 13 months to continue work on the development of the MPF System. The item was subsequently submitted directly to FC on 21.2.97. [Paper]
|
|
| 21.2.97
| FC
| FC approved the proposed commitment to retain the existing civil staff in the MPF Office in order to continue work on the development of the MPF System. [Paper]
|
|
| 10/97 to 11/07
| SUBC
| HC agreed at the meeting on 17.10.97 to set up a subcommittee to enable those members who wished to take part in the detailed scrutiny of the subsidiary legislation on MPF System but who were not familiar with the MPF System to be briefed on the System's background and major proposals prior to the introduction of the subsidiary legislation. [Minutes]
The Subcommittee on subsidiary legislation of the MPF System held 5 meetings. [Subcommittee on subsidiary legislation of the MPF System]
The Subcommittee reported its deliberations to HC on 21.11.97 and recommended that HC should form a bills committee to study the Provident Fund Schemes Legislation (Amendment) Bill 1997 (the Bill) as well as the draft subsidiary legislation. [Minutes]
|
|
| 12/97 to 2/98
| BC
| The Bills Committee on Provident Fund Schemes Legislation (Amendment) Bill 1997 held 31 meetings to study the Bill and the draft subsidiary legislation [Bills Committee on Provident Fund Schemes Legislation (Amendment) Bill 1997] and reported its deliberations to HC on 23.1.98. [Minutes]
HC noted that if the Bill was passed by the Council, the Administration would present the related subsidiary legislation for Members' scrutiny prior to its introduction into the Council before the end of the legislative term. HC agreed to set up a subcommittee to scrutinize the related subsidiary legislation.
The Council passed the Bill on 25.2.98. [Hansard "page 89"]
|
|
| 3/98 to 4/98
| SUBC
| HC agreed that, following the passage of the Provident Fund Schemes Legislation (Amendment) Bill 1997 on 25.2.98, the Subcommittee on subsidiary legislation of the MPF System be formed under HC to scrutinize related legislative proposals.
The Subcommittee reported its deliberations to HC on 27.3.98. [Report]
The Resolutions on the related subsidiary legislations were passed by the Council 1.4.98. [Hansard "page 101"]
|
|
| 25.3.98
| ESC
| ESC endorsed the proposed retention of four supernumerary posts in the Financial Services Bureau of the Government Secretariat from 1.4.98 to 31.3.99 to prepare for the launching of the MPF System. [Paper]
|
|
| 3.4.98
| FC
| FC approved the commitments endorsed by ESC on 25.3.98. [Paper]
FC also approved a commitment to inject $5 billion into the Mandatory Provident Fund Schemes Authority (MPFA) to meet its setting up and running costs and to provide a one-off grant of $600 million as seed money to help to set up the MPF Scheme Compensation Fund. [Paper]
|
|
| 30.9.98
| PRESS
| The Chief Executive (CE) appointed the MPF Schemes Advisory Committee. [Press release]
|
|
| 13.1.99 | ESC
| ESC endorsed the proposed creation of two permanent posts of one Administrative Officer Staff Grade B (D3) and one Administrative Officer Staff Grade C (D2) in the Financial Services Bureau of Government Secretariat to cope with the increasingly substantial and complex work in the wide range of policy areas handled, especially in respect of companies, insolvency, insurance, occupational retirement schemes and MPF schemes. [Paper]
|
|
| 5.2.99
| FC
| FC approved the commitments endorsed by ESC on 13.1.99. [Paper]
|
|
| 9.3.99
| PRESS
| The MPFA decided to set 1.12.00 as the target date for commencing MPF contributions. [Press release]
|
|
| 13.4.99
| FA
| The Panel discussed with the Administration on the progress of the preparatory work for the implementation of the MPF System. [Paper] [Paper]
|
|
| 12.5.99
| CM
| The Secretary for Financial Services moved a resolution under the MPF Schemes (Fees) Regulation which prescribed fees for the purposes of the MPF Schemes Ordinance and the regulations made under the Ordinance. The motion was carried. [Paper] [Hansard]
|
|
| 24.11.99
| CQ
| Hon CHEUNG Man-kwong raised a question on the appointment of the Managing Director of MPFA. [Hansard "page 66"]
|
|
| 19.1.00
| CQ
| Hon CHEUNG Man-kwong raised a question on staff recruitment exercise of MPFA. [Hansard "page 53"]
|
|
| 23.2.00
| CQ
| Hon LEE Wing-tat raised a question on labour disputes relating to MPF Schemes. [Hansard "page 24"]
|
|
| 30.3.00
| MP
| The Panel discussed with the Administration on the protection of employees' retirement benefits after the implementation of MPF Schemes. [Paper]
|
|
| 27.4.00
| PRESS
| The Chief Executive in Council appointed 1.12.00 as the commencement date of the full operation of MPF System. [Press release]
|
|
| 3.5.00
| CQ
| Hon Andrew CHENG raised a question on MPF Industry Schemes for catering and construction industries. [Hansard "page 56"]
Hon YEUNG Yiu-chung also raised a question on the number of enquiries and complaints received about matters concerning MPF Schemes, and the actions taken by the Administration. [Hansard "page 69"]
|
|
| 10.5.00
| CQ
| Hon YEUNG Yiu-chung raised a question on matters relating to the applications made by employers for retaining existing occupational retirement schemes. [Hansard "page 77"]
|
|
| 30.10.00
| MP
| The Panel discussed with the Administration on the protection of the employees' rights under MPF Schemes and the overview of the MPF exempted schemes. [Paper]
|
|
| 1.11.00
| CQ
| Hon Emily LAU raised a question on complaints in respect of the MPF System. [Hansard "page 8"]
|
|
| 6.11.00
| FA
| The Panel discussed with the Administration on the implementation of the MPF System. [Paper]
|
|
| 29.11.00 | COU
| The following two subsidiary legislations which were subject to negative vetting by the LegCo were tabled in the LegCo on 29.11.00 -
The two subsidiary legislations were subsequently passed by the Council.
|
|
| 20.12.00
| CQ
| Hon LEE Cheuk-yan raised a question on labour protection for employees who forced to become self-employed before the implementation of MPF Schemes. [Hansard "page 20"]
|
|
| 15.2.01
| MP
| The Panel discussed with the Administration on the progress of implementing MPF System since its commencement of operation on 1.12.00. [Paper]
The Administration provided members with the monthly implementation progress report of MPF System. [List of reports from 2/01 to 7/04] [List of reports from 8/04]
|
|
| 7.3.01
| FA
| The Panel discussed with the Administration on the proposed amendments to the MPF Schemes Ordinance and the MPF Schemes (General) Regulation. [Paper]
|
|
| 7/01 to 2/02
| BC
| HC agreed at the meeting on 25.5.01 to set up a bills committee to scrutinize the MPF Schemes (Amendment) Bill 2001 which introduced a number of amendments dealing with various aspects relating to the operation of MPF Schemes Ordinance and the implementation of the MPF System. The Bill also contained proposals to enhance the effectiveness of MPFA in its regulation of MPF schemes and its performance of statutory responsibilities for overseeing and monitoring the operation of the retirement protection systems in Hong Kong. [Minutes]
The Bills Committee held five meetings [Bills Committee on MPF Schemes (Amendment) Bill 2001] and reported its deliberations to HC on 25.1.02. [Report]
The Council passed the Bill on 6.2.02. [Hansard "page 90"]
|
|
| 7.1.02
| FA
| The Panel discussed with the Administration on the proposed amendments to MPF legislation to further enhance the efficiency and effectiveness of the MPF System. The Panel also noted the latest situation in respect of default contributions. [Paper] [Follow-up paper]
|
|
| 5/02 to 6/02 | BC | HC agreed at the meeting on 26.4.02 to set up a bills committee to scrutinize the MPF Schemes (Amendment) Bill 2002, the principal objects of which were to revise the minimum level of relevant income for MPF contributions (from $4 ,000 to $5,000) and to introduce a number of miscellaneous amendments to the Ordinance and its subsidiary legislation to enhance the efficiency and effectiveness of the MPF System. [Minutes "page 8"]
The Bills Committee held six meetings [Bills Committee on Mandatory Provident Fund Schemes (Amendment) Bill 2002] and reported its deliberations to HC on 28.6.02. [Report]
The Council passed the Bill on 12.7.02. [Hansard "page 39"]
|
|
| 3.11.04
| CQ
| Hon SIN Chung-kai raised a question on tax deductions for MPF contributions. [Hansard "page 87"]
|
|
| 26.1.05
| CQ
| Hon Albert HO raised a question on tax deductions in respect of contributions to MPF Scheme or Recognized Occupational Retirement Scheme. [Hansard "page 161"]
|
|
| 4.5.05
| CQ
| Hon TAM Yiu-chung raised a question on continued increase in voluntary contributions to MPF Scheme. [Hansard "page 41"]
|
|
| 18.5.05
| CQ
| Hon CHAN Kam-lam raised a question on the withdrawal peak of MPF. [Hansard "page 66"]
|
|
|
29.6.05
| CQ
| Hon LEE Cheuk-yan raised a question on making severance payments and long service payments from accrued benefits of MPF Schemes. [Hansard "page 69"]
|
|
| 19.10.05
| CQ
| Hon Albert CHAN raised a question on employers defaulting on MPF contributions. [Hansard "page 92"]
|
|
| 6.2.06
| FA
| The Panel discussed with the Administration on its proposal to amend the Mandatory Provident Fund Schemes (General) Regulation (Cap. 485A) to improve the existing investment regulations in respect of MPF funds. [Paper]
[Follow-up Paper]
|
|
| 3.7.06
| FA
| The Panel discussed with the Administration on the review of the optimum level and the levy rate of the Compensation Fund under the MPF System. [Paper]
[Powerpoint presentation material] (Chinese version only)
[Follow-up paper]
|
|
| 15.11.06
| CQ
| Hon LEUNG Kwok-hung raised a question on defaults on payment of wages and MPF contributions by employers in the construction industry. [Hansard "Page 64"]
|
|
| 6.12.06
| CQ
| Hon CHAN Wai-yip raised a question on default payment of MPF contributions by employers. [Hansard "Page 108"]
|
|
| 5.1.07
| FA
| The Panel discussed with the Administration and the MPFA on the review of the minimum and maximum levels of relevant income for MPF contributions. [Paper]
[Background brief] [Follow-up paper]
|
|
| 1.2.07
| FA
| The Panel met with the Administration, MPFA and deputations' on the review of the minimum and maximum levels of relevant income for MPF contributions. [Paper] [Updated background brief] [Follow-up paper]
|
|
| 12.4.07
| FA
| The Panel discussed with the Administration on the proposed amendments to the MPF legislation to improve the MPF System in the light of operational experience.
[Paper]
[Follow-up paper]
|
|
| 25.4.07
| CQ
| Hon CHEUNG Yu-yan raised a question on investment performance of the MPF System. [Hansard "Page 59"]
|
|
| 13.6.07
| CQ
| Hon TAM Heung-man raised a question on fund management fees charged by trustees of MPF. [Hansard "Page 39"]
|
|
| 13.6.07
| CQ
| Hon FUNG Kin-kee raised a question on fund management fees charged by trustees of MPF. Hansard "Page 94"]
|
|
| 27.6.07
| CM
| A motion moved by Hon Miriam LAU Kin-yee and amended by Hon SIN Chung-kai and Hon Andrew LEUNG Kwan-yuen on lowering the MPF management fees was passed. [Hansard "Page 301"]
The Administration provided in September 2007 the progress report on its views on the motion and the progress of the follow-up actions taken. [Progress report]
|
|
| 29.6.07
| BC
| Government introduced MPF Schemes (Amendment) Bill 2007 to the Legislative Council and a Bills Committee was formed to scrutinize the Bill. The major legislative proposals of the Bill were (i) to amend the definition of "relevant income" in MPF Schemes Ordinance to include housing allowance and other housing benefits for computation of mandatory contribution purpose; (ii) to improve the mechanism for recovering contribution in arrears by employers; (iii) to enhance the enforcement of the MPF system; and (iv) to improve the administration and regulation of MPF schemes.
[LegCo Brief]
|
|
| 8.11.07
| FA
| The Panel discussed with the Administration on the proposed amendments to MPF legislation to enhance enforcement of the MPF System.
[Paper]
|
|
| 28.11.07
| CQ
| Hon LAU Kong-wah raised a question on default payments of MPF contributions by employers. [Hansard "Page 32"]
|
|
| 20.2.08
| CQ
| Hon CHAN Kam-lam raised a question on offsetting long service payments and severance payments by accrued benefits in employees' MPF accounts. [Hansard "Page 74"]
|
|
| 8.4.08
| FA
| The Panel discussed with the Administration/MPFA the proposal to increase employees' control over their investment in MPF funds by allowing employees to transfer accrued benefits derived from employee mandatory contributions from the employer chosen scheme to an MPF scheme of their own choice at least once per calendar year. [Paper]
|
|
| 5.5.08
| FA
| The Panel discussed with the Administration/MPFA the details of the Government proposal to make a one-off injection of $6,000 into accounts of eligible members of the MPF Schemes and MPF-exempted Occupational Retirement Schemes. [Paper]
|
|
| 30.4.08
| CQ
| Hon LAU Chin-shek raised a question on default payment of MPF contributions. [Hansard "Page 21"]
|
|
| 30.6.08
| FA
| The Panel met with the Administration/MPFA and deputations to exchange views on the proposal to increase employees' control over their investment in MPF funds. [Paper]
|
|
| 11.08
| FA
| The Administration/MPFA issued an information paper on the impact of the financial turmoil on the Mandatory Provident Fund System. [Paper]
|
|
| 19.11.08
| CQ
| Hon LI Fung-ying raised a question on measures to protect investments of MPF. [Hansard "Page 7"]
|
|
| 1.12.08
| FA
| The Panel met with the Administration/MPFA to enhance employees' control over their MPF investment. [Paper]
|
|
| 14.1.09
| CQ
| Hon LEUNG Yiu-chung raised a question on Government's one-off injection into accounts of members of MPF Schemes and Occupational Retirement Schemes. [Hansard "Page 68"]
|
|
| 20.2.09
| FC
| FC approved a new commitment for making payment of special contributions into the MPF accounts of eligible members of MPF Schemes and MPF-exempted Occupational Retirement Schemes. [Paper]
|
|
| 6.4.09
| FA
| The Panel met with the Administration/Mandatory Provident Fund Schemes Authority (MPFA) regarding the arrangements to be made by the MPFA for handling requests for review of eligibility arising from the injection exercise. [Paper]
The progress and the current position in implementing the arrangements for Government's injection of $6,000 into MPF accounts of eligible persons through the MPFA. [Paper][Background brief][Follow-up paper]
|
|
| 6.7.09
| FA
| The Panel met with the Administration/MPFA to seek Members' views on the review conducted by the MPFA on the optimal level of the Mandatory Provident Fund Schemes Compensation Fund. [Paper][Background brief][Follow-up paper][Follow-up paper]
|
|
| 8.7.09
| CQ
| Hon Paul CHAN raised a question on injection of money into MPF accounts. [Hansard "Page 155"]
|
|
| 11.11.09
| CQ
| Hon Frederick FUNG Kin-kee raised a question on review of the Mandatory Provident Fund Scheme. [Hansard "Page 152"]
|
|
| 3.3.10
| CQ
| Hon LEE Cheuk-yan raised a question on severance payments and long service payments paid from accrued benefits of the mandatory provident fund schemes. [Hansard "Page 24"]
|
|
| 10.3.10
| CQ
| Hon Ronny TONG Ka-wah raised a question on retirement protection. [Hansard "Page 25"]
|
|
| 10.3.10
| CQ
| Hon CHAN Kin-por raised a question on execution of the Mandatory Provident Fund Schemes Ordinance. [Hansard "Page 69"]
|
|
| 28.4.10
| CQ
| Hon IP Wai-ming raised a question on handling of accrued benefits by Mandatory Provident Fund scheme members upon the change of their employment. [Hansard "Page 85"]
|
|
| 26.5.10
| CQ
| Hon IP Wai-ming raised a question on Mandatory Provident Fund system. [Hansard "Page 35"]
|
|
| 9.6.10
| CQ
| Hon WONG Kwok-kin raised a question on implementation of the Mandatory Provident Fund system. [Hansard "Page 42"]
|
|
| 9.6.10
| CQ
| Hon LEUNG Yiu-chung raised a question on review of the Mandatory Provident Fund system. [Hansard "Page 80"]
|
|
| 10.11.10
| CQ
| Hon WONG Kwok-kin raised a question on payment of severance payments and long service payments from accrued benefits of the mandatory provident fund schemes.[Hansard "Page 79"]
|
|
| 1.12.10
| CM
| A motion moved by Hon WONG Kwok-kin and amended by Hon CHAN Kin-por, Hon Ronny TONG Ka-wah and Hon Paul CHAN Mo-po on comprehensively reviewing the Mandatory Provident Fund Scheme was passed. [Hansard "Page 136"]
The Administration provided in May 2011 the progress report on its views on the motion and the progress of the follow-up actions taken. [Progress report]
|
|
| 2.3.11
| CQ
| Hon Mrs Regina IP LAU Suk-yee raised a question on minimum level of relevant income for Mandatory Provident Fund contributions. [Hansard "Page 132"]
|
|
| 16.3.11
| CQ
| Hon KAM Nai-wai raised a question on Mandatory Provident Fund Scheme. [Hansard "Page 58"]
|
|
| 16.3.11
| CQ
| Hon Paul TSE Wai-chun raised a question on proposed discontinuation of the Mandatory Provident Fund Scheme. [Hansard "Page 138"]
|
|
| 22.6.11
| CQ
| Hon TAM Yiu-chung raised a question on management of assets accumulated under the mandatory provident fund schemes.
[Hansard "Page 49"]
|
|
| 22.6.11
| CQ
| Hon CHAN Kin-por raised a question on Non-Compliant Employer and Officer Records set up by the Mandatory Provident Fund Schemes Authority. [Hansard "Page 112"]
|
|
| 13.7.11
| CQ
| Hon LEE Cheuk-yan raised a question on provision of annuity plans under the Mandatory Provident Fund Scheme. [Hansard "Page 81"]
|
|
| 2.11.11
| CQ
| A motion moved by Hon TAM Yiu-chung and amended by Hon IP Wai-ming, Hon CHAN Kin-por, Hon James TO Kun-sun and Hon Alan LEONG Kah-kit on comprehensively reforming the Mandatory Provident fund Scheme was passed.
[Hansard "Page 251"]
The Administration provided in January 2012 the progress report on its views on the motion and the progress of the follow-up actions taken.
[Progress report]
|
|
| 28.3.12
| CQ
| Hon James TO Kun-sun raised a question on Employees Choice Arrangement of Mandatory Provident Fund Scheme. [Hansard "Page 81"]
|
|
