KSID - Your MPF contributions

Your MPF contributions

If you are an employee (full time or part-time), both you and your employer are required to make regular MPF mandatory contributions for you, based on your ‘relevant income’ as follows:

Monthly Relevant Income	Mandatory Contribution Amount
Monthly Relevant Income	Employer’s Contributions	Employee’s Contributions
Less than HK$7,100	Relevant income x 5%	Not required
HK$7,100 - HK$30,000	Relevant income x 5%	Relevant income x 5%
More than HK$30,000	HK$1,500	HK$1,500

‘Relevant income’ refers to wages, salaries, leave pay, fees, commissions, bonuses, gratuities, perquisites or allowances, expressed in monetary terms, paid or payable by an employer to an employee, but excludes severance payments or long service payments under the Employment Ordinance.

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

If you are self-employed, you are required to make MPF mandatory contributions as follows:

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

Whether you are an employee, personal account holder or self-employed person, you may also consider making additional contributions (i.e. voluntary contributions, tax deductible voluntary contributions (‘TVC’) and special voluntary contributions (‘SVC’) (including the Flexi-Contributions)) in light of your personal needs.

How to Open an Account:

Voluntary Contributions	Your employer helps you open an account under Hang Seng SuperTrust Plus, or if you are a self-employed person, you can open an account on your own.
Tax Deductible Voluntary Contributions	You can open a TVC account under Hang Seng SuperTrust Plus 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.
Special Voluntary Contributions	You can open a Flexi-Contribution account under Hang Seng SuperTrust Plus 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.

For details of different types of contributions, you may refer to the MPF Scheme Brochure for Hang Seng SuperTrust Plus – ‘Administrative Procedures’ .