Since 1 May 2007, the University has been subscribing two MPF master trusts for choice by members, namely Fidelity Retirement Master Trust (FRMT) and RCM MPF Plan (formerly named AGI MPF Plan). RCM Asia Pacific Limited (RCM), as sponsor of the RCM MPF Plan, has decided to appoint Bank Consortium Trust Company Limited (BCT) as the new trustee, custodian and administrator of the RCM MPF Plan to replace HSBC Institutional Trust Services (Asia) Limited with effect from 1 January 2010.

As the sponsor of the RCM MPF Plan, RCM has the right to change their administration partner without seeking consent from the subscribing employers.  RCM however assured the University that the change is aimed at enhancing the level and quality of administrative services being provided to members and employers.  There will be no change to the role of RCM as the Plan’s investment manager and their investment policy.  Both RCM and BCT, the new administrator, pledged that existing service standards including processing timelines over core services will be maintained or even improved.

RCM will have separate notice to individual members to inform the change and related arrangements.  You are welcome to reflect any problem(s) you encounter over such change to the Payroll and Superannuation Unit, Bursary at 2609 7251 or 2609 7246.