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 $7,100 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.