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China Life MPF Master Trust Scheme
Introduction
The Mandatory Provident Fund ("MPF") system was introduced in December 2000. Under the legislation, except for certain exempt persons, all employees or self-employed persons are required to join an MPF scheme managed by trustees approved by the Mandatory Provident Fund Schemes Authority("MPFA"). Employers and employees are required to make regular contributions into an employee's account. As a legal responsibility, employers must select an approved trustee and enroll their employees in an MPF scheme, while the rights to select constituent funds lie with the employees.
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