Publish Date: 27/02/2025
Dear participating employers and scheme members,
To align with the implementation of arrangements for maintaining normal operations of the Hong Kong securities and derivatives markets during severe weather conditions1, we are pleased to inform you that with effect from 27 February 2025 (the “Effective Date”), Severe Weather Trading stated below will take place (the “Changes”).
Severe Weather Trading (“SWT”)
Online switching of constituent funds and change of investment mandate in an onboarded MPF scheme will be available via the eMPF Platform’s website or mobile app on an SWT Day2. Please note that the cut-off time for handling valid fund switching and change of investment mandate instructions for future contributions submitted through eMPF Platform’s website or mobile app on the relevant SWT Day remains unchanged, which is 4:00 p.m.
Further, de-risking of Default Investment Strategy originally scheduled to take place will continue to be processed on an SWT Day. Valuation of constituent funds on each SWT Day will be based on the unit price of the relevant constituent funds on the relevant SWT Day. The Changes will not have any adverse impact on scheme members.
Subject to the governing rules of the respective MPF scheme, valuation of constituent funds on each SWT Day will be conducted by the MPF trustee of the relevant scheme in the usual way to derive the unit price of the relevant constituent funds on the relevant SWT Day. With respect to the valuation of a constituent fund which invests in underlying fund(s) and the unit price(s) of the underlying fund(s) is(are) not available on such SWT Day, the relevant MPF trustee or the Investment Manager will use the latest available fund price of such underlying fund(s) to calculate the unit price of the relevant constituent funds.
No action is required from the participating employers and scheme members to effect the Changes.
If you have any questions about the Changes set out in this notice, please contact us at 183 2622 or visit our website at www.empf.org.hk.
1 “Severe weather conditions” refer to the scenario where a typhoon signal No. 8 or above or a black rainstorm warning is issued by the Hong Kong Observatory, or an “extreme conditions” announcement is made by the HKSAR Government.
2 An “SWT Day” refers to any day from Monday to Friday except a Hong Kong public holiday on which severe weather falls.