MPF-Pro
is a provident fund administration system designed to handle the requirements
of Hong Kong based provident funds. It handles existing Occupational
Retirement Scheme Ordinance (ORSO) schemes and it is tailor-made to
handle the requirements of Mandatory Provident Fund (MPF) as set out
in the Mandatory Provident Fund Ordinance of the Government of The
Hong Kong Special Administrative Region.
MPF-Pro has been live running for 3 years now. Its overwhelmingly successful
implementation and continuously enrichment in its functionalities, making MPF-Pro
one of the best provident fund systems in the region. In order to take MPF-Pro a
step forward to become an international system, Progressive has added the multi-lingual
capability to it. This multi-lingual capability allows MPF-Pro to help you in
expanding your provident fund business worldwide. Please click here to find out
more about our multi-lingual MPF-Pro and Chinese MPF-Pro.
A)
Major Pension Fund Processing Features of MPF-Pro
The
functions of MPF-Pro cover a complete provident fund administration
process and it can be divided into the following major areas:
- Proposal
creation
- Scheme
creation
- Member
creation
- Transaction
processing
- Contribution
input
- Withdrawal
and benefit transfer processing
- Fund
switching
- Anniversary
processing
- Fund
management
- Day end
processing
- Comprehensive
reporting
- On-line
inquiry
B)
HKSAR's MPF Requirements in MPF-Pro
MPF-Pro
is tailor-made in meeting the requirements as set out in the Mandatory
Provident Fund Ordinance of the Government of HKSAR. Besides a complete
process for provident fund administration, MPF-Pro offers special
features to handle the following:
- Master Trust
- Self Employed
- Industry Scheme
- Capital Preservation Fund
- Surcharge on late payment
- Minimum preservation rule handling
- Portability for benefit transfer
- Unit transfer
- Withdrawal pending
- Contribution reminder
- Unclaimed benefit
- Preserved account
- Efficient transaction processing features
- Plan
template creation
- Speedy
scheme and member creation
- Speedy
contribution update
- Speedy
update of contribution preference for self employed scheme
C)
A parameter driven system
All MPF regulations
are stored as parameters in the system. Each regulation has its
own rule description, specific scheme type that the regulation is
applied to, effective date and value of the regulation. If there
is any changes in the effective date and value of the rules, they
can be updated by the user.
D)
Security features
MPF-Pro provides
full system security including user logon control and history, password
encryption and control, functions restricted from unauthorized access
and user master file maintenance.
E)
Technical background
MPF-Pro is
a windows-based, client server application designed by using the
latest object-oriented development methodology the PROGRESS version
8 development tool and database engine. It accepts data in English
and any double byte language (including Chinese). PROGRESS supports
different databases including ORACLE and RPG through its native
database server. MPF-Pro is designed to run on open systems and
will run on a variety of platforms including any UNIX system, AS400,
NT, PC-LAN or stand-alone PC.
F)
Interfacing capability
MPF-Pro
interfaces to accounting system, fund management system, cheque
writing system, payroll system and the MPFA's monitoring system.
G)
Comprehensive reporting
There are over 300 reports
in MPF-Pro to meet your operation, statutory and management requirements.
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