Jones Lang LaSalle Management Services has appointed HSBC Insurance as its new Mandatory Provident Fund service provider to manage the retirement savings of the company's 3,000-strong work force.
Jones Lang LaSalle Management Services (JLLMS) will transfer its current Mandatory Provident Fund (MPF) Employer-Sponsored Scheme (ESS) to HSBC’s Master Trust Scheme with effect from January 2009. In order for JLLMS employees to enjoy the benefits under the Master Trust Scheme, JLLMS will transfer all accumulated assets under the ESS to HSBC MPF’s scheme in one tranche.
JLLMS’s MPF Employer-Sponsored Scheme will cease on December 31, 2008. The Mandatory Provident Fund Schemes Authority has been notified of the change of MPF scheme.
William Lai, head of property management at Jones Lang LaSalle for Hong Kong, said: Jones Lang LaSalle Management Services Limited chose HSBC Insurance as our new MPF service provider because of their experience and expertise in MPF. As the leading MPF provider in Hong Kong, HSBC understands our need to offer staff an expanded range of fund choices and saving options. We are very confident that we have made the right decision in choosing HSBC Insurance.