¤¤ ¤å HOME
   
  HA Provident Fund Scheme reforms will be implemented in March
         
 

In our July/August issue last year, we reported that the terms of the HA Provident Fund Scheme (HAPFS) will be reformed in a number of ways in order to provide members with more fund choices and greater flexibility to make switches between them. The Board of Trustees of the HAPFS has now approved the implementation of these reforms in March 2010. Any member who wishes to submit his or her instructions under the new terms may do so via the Invesco HAPFS website (www.hapfs.invesco.com.hk) and hotline (3191 8088), on or after 24 February 2010. The cut-off time each month for the implementation of instructions will remain the same; so please be reminded that the deadline for submitting instructions for the month of March 2010 will be 5:00pm on 23 March.

The HAPFS office has made the following arrangements in preparation for the implementation of the reforms:

1.

Another forum for HAPFS members was held at HAHO on 18 February 2010, in addition to the 32 forums for members held during August to September last year;

2.

A letter was sent on 26 February 2010 to remind each member about the formal implementation of the reforms; and

3.

The service hours of the Invesco hotline will be extended during March 2010.



The main reform measures will include:

1.

The introduction of new funds, namely Global Equity Fund and Global Bond Fund. The Money Market Fund will also be opened up, subject to certain restrictions on switching funds into it;

2.

The opportunity to invest in more than one fund; and

3.

The opportunity to switch between funds once every quarter.

If you have any enquiries, please call the Invesco hotline on 3191 8088.