The Mandatory Provident Fund Schemes Ordinance (MPFSO)
makes it compulsory for all employees in Hong Kong to
join the Scheme with the exception of those who have already
joined a pension scheme that is qualified for exemption
under the Ordinance.
Under the legislation, all employees are required to
contribute 5% of his monthly cash income to a Mandatory
Provident Fund Scheme. At the same time, employers are
also required to contribute an equal amount.
Any employee whose monthly income is less than $5,000
is not required to contribute to such a Scheme. But in
the case of the employer, he still has to make arrangements
for his employees to join the Mandatory Provident Fund
Scheme and contribute for them an amount equal to 5 per
cent of their monthly income.
The MPFSO was fully implemented in December 2000. For
details on the legislation, please refer to the pamphlet
"MPF and You" published by the Mandatory
Provident Fund Schemes Authority or call 2918 0102
for enquiries.
