MPF at a glance
What is MPF
MPF and you
The Mandatory Provident Fund (“MPF”) system was launched by the government of the Hong Kong Special Administrative Region (“HKSAR”) in December 2000. Regulated and monitored by the Mandatory Provident Fund Schemes Authority (“MPFA”), the system aims to provide retirement support for the Hong Kong workforce.
測試Except those exempted, all employees and self-employed persons aged 18 to aged below 65, and are normally residing and working in Hong Kong, are required to participate in an MPF scheme, including:
- Employees who have worked for 60 days or more (including full-time or part-time)
- Self-employed persons who earn an income from the production or trade of goods or services not in the capacity of an employee
- Casual employees who work in the catering or construction industries (even those who have worked fewer than 60 days)
Enrolment and mandatory contributions
According to the Mandatory Provident Fund Schemes Ordinance, your employer is responsible to enrol you in an MPF scheme. Both you and your employer are required to make contributions based on your monthly relevant income*.
Employer and employee
| Relevant income* | Employer’s Mandatory Contribution | Employer’s Mandatory Contribution |
|---|---|---|
| Less than HK$7,100 a month | 5% | 5% |
| Less than HK$7,100 a month | 5% | 5% |
| Less than HK$7,100 a month | 5% | 5% |
* Relevant income refers to any wages, salary, leave pay, fee, commission, bonus, gratuity, perquisite or allowance (including housing allowance or other housing benefits), expressed in monetary terms, paid or payable by an employer (directly or indirectly) to their employees. It does not include any severance payments and long service payments under the Employment Ordinance.
Self-employed person
Withdrawal of benefits
| Relevant income* | Employer’s Mandatory Contribution | Employer’s Mandatory Contribution |
|---|---|---|
| Less than HK$7,100 a month | 5% | 5% |
| Less than HK$7,100 a month | 5% | 5% |
| Less than HK$7,100 a month | 5% | 5% |
Reminder:
Tax concessions: Your employee mandatory contributions are income tax deductible, subject to a maximum amount of HK$18,000 per year in 2015/16 onwards.
For further details about MPF, please refer to the MPFA website
Oct 25, 2018
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Warning: Investment involves risks. Please refer to the Offering Document for details including risk factors, fees and charges of the scheme.
Manulife MPF Overview
Offers you a wide range of constituent funds for an investment portfolio that can be tailored to individual needs and risk appetites, backed by all-round MPF services. You can select from a comprehensive MPF platform offering 29 different constituent funds, ranging from equity funds (international, regional, single-market and sector), bond funds (international, regional and single-market), mixed assets funds (lifestyle and target date), guaranteed funds to money market fund. Besides, the Default Investment Strategy (“DIS”) is also one of the available investment choices for you as required by the legislative requirement.
Warning: Investment involves risks. Please refer to the Offering Document for details including risk factors, fees and charges of the scheme.
More related information
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