Hong Kong Regulations

OCCUPATIONAL RETIREMENT SCHEMES (PERIODIC CERTIFICATION OF REGISTERED DEFINED BENEFIT SCHEMES) RULES - SECT 2

Other information in full certificates or qualified certificates

A full certificate referred to in section 31(1) of the Ordinance or a
qualified certificate so referred to shall contain the following information-

   (a)  the rate of prospective future salary increases;

   (b)  the valuation rate of interest assumed for the relevant actuarial
        valuation;

   (c)  the amount of the aggregate past service liability of the scheme;

   (d)  the amount of the aggregate vested liability of the scheme;

   (e)  the market value or, where such value cannot be ascertained, the net
        realizable value, of the assets of the scheme to determine whether it
        is sufficient to meet the scheme's aggregate vested liability;

   (f)  the value of the assets of the scheme for the purposes of-

        (i)    determining whether such assets are sufficient to meet the
               scheme's aggregate past service liability; and

        (ii)   making funding recommendations;

   (g)  in the case where the aggregate past service liability of the scheme,
        as ascertained in accordance with paragraph (c), is less than the
        aggregate vested liability of the scheme as ascertained in accordance
        with paragraph (d), the difference between those liabilities and the
        reasons therefor;

   (h)  in the case where the value of the assets of the scheme as ascertained
        in accordance with paragraph (f) is not sufficient to meet the
        scheme's aggregate past service liability, the weighted average of the
        periods of the members' future membership (the periods being
        calculated up to the periods their benefits become fully vested), in
        respect of all existing members of the scheme, where the weighting
        should be based on the values of the past service liability of the
        members or on an appropriate approximation thereto; and

   (i)  the period in which, under the terms of the scheme for a new member,
        the benefits become fully vested.