Interface Between Joint Provident Fund Scheme and Private Pension Scheme

1 The term “new employee” means the employee who has not joined the private pension plan of the business at the time of interface, or the one who only joins the company after the employer has participated in the non-mandatory central provident fund system.

2 The term “old employee” means the serving employee who has already joined the private pension plan of the business before his/her employer participates in the non-mandatory central provident fund system.

3 when the employee’s contribution period satisfies the requirement for him/her to obtain all the contributions of the employer, the employee has the right to choose the investments of his/her employer.