George Clinical has once again gained recognition by the Mandatory Provident Fund (MPF) legislation for the provision of good MPF benefits to employees in Hong Kong. The Hong Kong office is part of a wide-ranging George Clinical East Asia team that includes offices in Hong Kong, Malaysia, South Korea, Taiwan, Philippines, Singapore and operational teams in Indonesia, Thailand, and Vietnam. Criteria for the assessment of the prestigious award include timeliness of company pension contribution, the additional voluntary contribution by the employer, use of an electronic human resources and benefits platform and more.
During the Hong Kong award ceremony, George Clinical also received the e-Contribution Award. This award is in recognition that George Clinical has a strong retirement program and places a high value on benefits for their employees.
This award was given to George Clinical as the company voluntarily contributes a higher rate than the mandatory requirement by law to the employee’s MPF retirement fund account. The organization also adapted to e-contribution and compliance with the MPF legislation and requirements.
The MPFA is a statutory body established in 1998 under the Mandatory Provident Fund Schemes Ordinance of Hong Kong. The mission of the organization is to regulate and supervise privately managed provident fund schemes; educate the working population about saving for retirement and the role of the MPF System as one of the pillars supporting retirement living; and to lead improvements to provident fund schemes to make them more efficient and user-friendly, and better meet the needs of the working population.
Hong Kong should be strongly considered by pharmaceutical and biotech firms due to the efficient regulatory and ethics approval framework for clinical trials of approximately three to four months, well established intellectual property protection legislation and efficient healthcare system.