MPF or employers contribution?

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  1. #1

    Join Date
    Dec 2003

    MPF or employers contribution?

    hey guys CO has basically 2 schemes, one is that i pay 5% and the Govt pays the other 5% and it is directly added to my salary, and the other one is that my employer pays 10%, 1st year, 20% 2nd year, and 30% 3rd year, but the thing is i can only avail it at the end of the 3 years or nothing, now i am bonded for 2 years anyways in service.
    Now my question is , first what does MPF stand for and does that mean that i can withdraw it every year or at the time when i leave the country and is it true about the 5% +5% or have i got that info wrong?
    thanks appreciate it!

  2. #2

    Join Date
    Apr 2003

    AKD, The MPF is similar to the CPF (I think that whats its called in Singapore) and is essentially a retirement fund.

    What you're suggesting sounds like some variant which is similar to what I have .. i.e. one can contribute a total of 5% of the salary with no caps and the company will match it.

    If you're a part of the standard govt mandated withdrawl scheme you can only withdraw when you leave HK / retire or die (technically you've left HK).

    The voluntary MPF contributions will be controlled by your employers contract with you.

    Would seriously suggest you take these questions to your HR person in Hong Kong as there are a fair number of issues which you'll have to deal with, if you're on a voluntary scheme.

  3. #3

    I was reading the MPF from this URL "", understand that there is a maximum contribution of HKD1,000. The way it is phrased, I am not clear if the cap is on personal contribution or also on employer's contribution.


  4. #4

    What if I work for a foreign company and I already have a retirement plan? Do I still have to participate in the MFP?

  5. #5

    Join Date
    Jun 2005
    Hong Kong

    No you don't provided that you can provide the taxman evidence that convinces them that you already contribute (and will continue to contribute whilst in HK) to an essentially similar plan overseas. I have not paid MPF in my almost 7 years here.