Your MPF contributions

Your MPF contributions

Employees (full time or part-time) and employers who are covered by the MPF System are each required to make regular mandatory contributions calculated at 5% of the employee’s relevant income to an MPF scheme, subject to the following minimum and maximum relevant income levels:

Monthly Relevant

Income

Mandatory Contribution Amount

Employer's Contributions

Employee's Contributions

Less than $7,100

Relevant income x 5%

Not required

$7,100 - $30,000

Relevant income x 5%

Relevant income x 5%

More than $30,000

$1,500

$1,500

Monthly Relevant

Income

Mandatory Contribution Amount

Employer's Contributions

Employee's Contributions

Less than $7,100

Relevant income x 5%

Not required

$7,100 - $30,000

Relevant income x 5%

Relevant income x 5%

More than $30,000

$1,500

$1,500

“Relevant Income” refers to all monetary payments paid or payable by an employer to an employee, including wages, salary, leave pay, fee, commission, bonus, gratuity, perquisite or allowance, but excluding severance payments or long service payments under the Employment Ordinance.

All contributions are immediately vested in you, except for the MPF benefits derived from the employer's contributions for offsetting severance payments or long service payments.

If you are a SEP, you are required to pay 5% of your relevant income as mandatory contributions in a yearly basis or monthly basis. The amount is subject to a maximum level of relevant income and a minimum level of relevant income listed below:

Relevant Income

Self-employed

Person’s Contributions

Annual

Monthly Average

Less than $85,200

Less than $7,100

Not required

$85,200 - $360,000

$7,100 - $30,000

Relevant income x 5%

More than $360,000

More than $30,000

$360,000 x 5% = $18,000 per year

Or

$30,000 x 5% = $1,500 per month

Relevant Income Self-employed Person’s Contributions
Annual Less than $85,200 Not required
Monthly Average Less than $7,100
Relevant Income Self-employed Person’s Contributions
Annual $85,200 - $360,000 Relevant income x 5%
Monthly Average $7,100 - $30,000
Relevant Income Self-employed Person’s Contributions
Annual More than $360,000 $360,000 x 5% = $18,000 per year
Or
$30,000 x 5% = $1,500 per month
Monthly Average More than $30,000

If you want to make your retirement life more secure, you can consider making voluntary contributions to boost your retirement savings. Employers, employees, and SEP are free to make voluntary contributions on top of their mandatory contributions.

There are different types of voluntary contributions to meet your personal retirement needs:

How to open an account

Your employer helps you open an account under the MPF scheme chosen by the company

You select your own MPF scheme and open an account on your own. (Note: some MPF schemes do not provide TVC accounts. You may check the MPF schemes which off­er TVC accounts on MPFA's Trustee Service Comparative Platform (https://tscplatform.mpfa.org.hk/scp/eng/index.jsp)

You select your own MPF scheme and open an account on your own. (Note: some MPF schemes do not provide SVC accounts. You may check the MPF schemes which off­er SVC accounts on MPFA's Trustee Service Comparative Platform. In addition, some MPF schemes provide SVC accounts in different names)

For details of different types of contributions, you may refer to Section 6.1 – Contributions and Withdrawals of the MPF Scheme Brochure of the Scheme.


MPF Scheme Brochure of the Scheme