  |    |
        |
 |
 | ||
| |||
 |  | |
| ||
|  | |
| ||
|  | |
| ||
| ||
|  | |
| ||
 |  | |
| · | News Releases |
| · | Multimedia Centre |
| · | Virtual Press Kits |
| · | Fact Sheets |
| · | FAQ |
| · | Contact the Newsroom |
| ||
|  | |
| ||
|  | |
| ||
Manulife launches Contribution Express to simplify MPF for Employers Hong Kong – Manulife (International) Limited (MIL) has announced the launch of Contribution Express, a new Web-based Mandatory Provident Fund (MPF) contribution software that simplifies and automates the complex operations of tracking and calculating correct MPF contributions for employees. Contribution Express is expected to be welcomed by small- to medium-sized employers because it reduces wasted administrative time as well as errors – particularly in the context of the upcoming changes to the MPF legislation. “Contribution Express can reduce paperwork and greatly simplify the MPF administration task, especially among organizations which don’t have software that automatically calculates MPF contributions,” said Amy So, Vice President, Provident Funds Services, MIL. “We have about 30,000 corporate MPF customers who fall into this category, and we developed this software in order to extend Manulife’s tradition of excellent service to them through electronic channels.” The Contribution Express software is automatically updated with the latest formulas based upon the latest legislation changes. Given the revised MPF rules that will come into effect tentatively in February 2003 concerning minimum salary and minimum contributions, the software becomes even more relevant – saving employers considerable time and avoiding potential errors in calculating revised contributions. “Contribution Express is up-to-date and conforms to the latest guidelines,” said Ms. So. “Come February, employers will not need to worry about errors or waste time calculating what their new MPF contributions need to be – with Contribution Express, it will be just business as usual.” Contribution Express is designed for companies with between two and 200 employees. The companies can use it to calculate MPF contributions and submit them online, thereby greatly simplifying MPF contribution calculation and remittance. Manulife’s corporate MPF customers can log on to the e-MPF Employer Service Centre of its Web site, www.manulife.com.hk, to update their employees’ information such as employment status, relevant income or contribution by payroll period. Through Contribution Express they can calculate and submit contribution data – tasks that would be time-consuming and prone to errors, if done using paper forms. To provide complete security, Manulife’s e-MPF employer site uses password protection and 128-bit SSL encryption – comparable to the level used by major banks. Manulife is offering a special cash bonus to encourage its corporate MPF customers to register with the Contribution Express and use autopay for contribution payment. This offer will be extended to them in phases from now till early 2003. About Manulife Manulife offers provident funds services in Hong Kong through its three operating companies: Manulife (International) Limited, Manulife Provident Funds Trusts Company Limited and Manulife Funds Direct (Hong Kong) Limited. All are members of the Manulife Financial group of companies. Manulife Financial is one of the leading Canadian-based financial services groups operating in 15 countries and territories worldwide. Through its extensive network of employees, agents and distribution partners, Manulife Financial offers clients a diverse range of financial protection products and wealth management services. Funds under management by Manulife Financial were Cdn$139.8 billion (approximately HK$718 billion) as at June 30, 2002. Manulife Financial Corporation trades as ‘MFC’ on the TSX, NYSE and PSE, and under ‘0945’ on the SEHK. Manulife Financial can be found on the Internet at www.manulife.com. - 30 - For more information please contact:
|
|
