Mandatory Provident Fund


The Scheme member can only withdraw the accrued benefits under one of the following conditions: 

i. Has attained the retirement age of 65*;
ii. Has attained the early retirement of 60*;
iii. Total incapacity; 
iv. Death;
v. Permanent Departure from Hong Kong;
vi. Small Balance Account (if the MPF account balance is less than HK$5,000 and no MPF contributions were made in the past 12 months) 
vii. Terminal illness (withdrawal of the accrued benefits will be restricted to mandatory contribution only)

* Withdrawing the accrued benefits by instalments is only applicable for the condition i and ii

If the appointment of the director is under an employment contract who receives remuneration as an employee, he/she is covered by the MPF scheme. On the other hand, if the director is not the employee and only receives director’s fees as an office holder, he/she does not have to be enrolled in an MPF scheme.

After we have received the Member Enrolment Form, the Scheme member will be sent his/her Notice of Participation, Login User ID and Password for Internet Enquiry System which will help the Scheme member to check details of his/her contribution and asset balance etc. Moreover, each Scheme member will receive an Annual Benefit Statement and Fund Fact Sheet within 3 months after the end of each financial year.

The Scheme imposes no restrictions on constituent fund switching. Scheme members may adjust the investment porfolio at any time. Moreover, Scheme members can perform constituent fund switching through our Internet Enquiry System or by completing the Fund Swiching Form. No administration charge is incurred by the constituent fund-switching process.

The Scheme member can log on to Internet Enquiry System to check the asset balance, contribution record and etc. by using his/her Login User ID and Password. Besides, the Scheme member can check the asset balance, contribution record and etc via our hotline or customer service center.

The Scheme members should complete a Fund Transfer Form and submit to the new scheme trustee. In order to avoid any delay in the fund transfer process, please enter the correct scheme numbers for both the original and the new trustees with the correct signature on the form.

The previous scheme trustee is required to ensure that the accrued benefits are properly transferred within 30 days after receiving the transfer request and will issue a transfer statement stating the particulars of the transfer. Trustee of the new scheme will also send a confirmation stating the amount received from the previous scheme.

If the Scheme member has attained the age of 65, he or she can submit a  completed Claim Form for Payment of Accrued Benefits together with a copy of his/her identity card to MPF Department. If all information is correct, the accrued benefits can be arranged to be paid to the Scheme member within 30 days.

The Scheme member may defer the withdrawal of accrued benefits and wait until the recovery of the economy.

The minimum level of the relevant income for MPF contributions was revised from HK$6,500 to HK$7,100, effective on 1 November 2013. As a result of the amendment, for contribution periods starting on or after 1 November 2013, employees with a monthly relevant income less than HK$7,100 will not be required to make their part of contribution, but their employers will have to continue making the employer’s part of contribution. Self-employed persons with relevant income less than HK$7,100 monthly or HK$85,200 yearly do not have to make contributions. Please note that if you are not required to make mandatory contributions as an employee or self-employed person by reason of this amendment, you may still choose to make voluntary contributions.

For contribution periods commencing on or after 1 June 2014, the maximum level of the relevant income for MPF contributions of monthly paid regular employees and their employers was amended from HK$25,000 to HK$30,000. As a result of the amendment, the maximum contributions will be adjusted from $1,250 to $1,500 monthly accordingly.

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