Contact Us
【Register for our Free Trial Powerup S】 Register Now
product hero background

ORSO Plan Advisory

Learn More
Progression of ORSOMarket practicesNext steps?

Progression of ORSO

The Occupational Retirement Schemes Ordinance (ORSO) scheme is a retirement benefit offered by company on voluntary basis aiming for staff attraction and retention in 1990s. ​

ORSO is launched to ensure the funding of retirement benefits & retirement assets outside employers' balance sheet

MPF came into operation since 2000 as mandatory basis

ORSO had been gradually fading away and taken over by MPF.

Since then, ORSO has either been "frozen"

(stop enrolling new member) or offered as one of the choices for member selection.

Why are some employers still operating ORSO?

Then, why some employers are still operating ORSO?What we will do?
orso 1

GUM's observations

87% of respondents said they retain ORSO scheme simply because of its long history
Less than 1/3 indicated that ORSO can retain employees
Only ¼ indicated that ORSO can attract new employees
orso 2

Is ORSO becoming the legacy in HK?

  • Employer stepping away from ORSO market with 37% drop in no. of employer over last 20 years. (from 8.8 k to 5.5k)
  • 87% of respondents said they retain OS scheme simply because of its long history
  • "Organization Inertia"
  • They focus resource in the growing $1 trillion MPF market rather than declining $0.3 trillion ORSO market
  • This is why ORSO platform offers limited fund choice, limited -functionality and etc.

What can be the next steps?

1.Scheme review
  • can kick off scheme review first including the performance, fee, fund choice
2.Project for feasibility study for winding up ORSO
  • to explore in detail, e.g. minimum MPF benefits ("MMB"), vesting scale and guaranteed fund issue
3.Employee Survey
  • to engage employee to provide feedback on the project and solicit feedback and concern in advance

Don't Wait. Act Now!

Talk to us for more details of ORSO Plan Advisory

Contact Us

Talk with our specialist

Talk with our specialist

Please fill in the details to know more

GUM MPF IndexAboutReportMPF Offset Abolition Insight PaperEmployee Insurance Benefits Research 2023Engaging your people with Total Wellbeing 2023Flexible Benefits 2023 - Trendy or the New NecessityGUM Top 10 Things you have to know in 2022Powerup Program TrialNewsroomContact UsCareers

Get Start with GUM for Business

Everything you need to know about the product and service.
Contact Us
marketing@gumhk.comOffice A-D, 31/F, Legend Tower 7 Shing Yip Street, Kwun Tong Kowloon, Hong Kong

Privacy Policy
Terms of Use
Copyright © 2023 GUM. All rights reserved.