MPF Question

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  1. #1

    Join Date
    Feb 2005
    Posts
    33

    MPF Question

    Is it true that you don't have to pay into an MPF if you are only on a 1 year working visa?


  2. #2

    Join Date
    Jan 2005
    Location
    HK
    Posts
    174

    Mpf

    Hi there,

    I have the same issue, been here for almost a year and talked to the accountant.
    You don't have to pay any MPF for the first 13 months.
    If you extend your stay, as I am doing now, you will start paying on the 14th month.
    Cheers


  3. #3

    Join Date
    Apr 2003
    Posts
    12,383
    If you are over 18 and under 65 years of age and are employed as an employee for 60 days or more with your employer, you are covered by the MPF system. It does not matter if you work full-time, part-time or on a contract basis.
    As far as I know there are no exceptions, specially based on the length of the visa. You can claim your MPF contributions back when you are ready to leave Hong Kong for good.

  4. #4

    Join Date
    Apr 2003
    Posts
    12,383

    Oops. Looks like I might be wrong.

    There seems to be an exclusion:

    4. I have hired a few overseas employees to work for me. Do I need to enrol these expatriates in MPF schemes?
    Answer : If the period during which your expatriate employees are given permission to land or remain in Hong Kong for employment purpose does not exceed 13 months, or if the expatriate employees are members of a provident, pension, retirement or superannuation scheme of a place outside Hong Kong, they are exempted from the MPFSO.
    http://www.mpfahk.org/viewPageText.a...=73&langNo=1#5

  5. #5

    Join Date
    Jan 2005
    Location
    HK
    Posts
    174

    Contribution

    It's true no exception, but you only have to start contributing after 13 months of stay in HK. After that contribute all the time till you leave, even if you change company etc.
    I guess they consider a 1 year stay as a temporary stay and don't open the MPF in that case.


  6. #6

    Join Date
    Feb 2005
    Posts
    33

    I have been paying in 1000 per month since october but might be changing employer soon. I will be staying in HK.

    I am on a 12 month working visa - could I take the money when I leave this employer?

    Can you only take the money when you leave HK?


  7. #7

    Join Date
    Apr 2003
    Posts
    12,383

    Most of the questions are actually answered at the MPF's site...

    http://www.mpfahk.org/viewPageText.a...eID=7&langNo=1

    Can I withdraw my accrued benefits in the MPF scheme if I am in need of money?
    Answer : Scheme members are not allowed to withdraw their accrued benefits until they reach the age of 65. Early withdrawal will only be allowed for circumstances such as death, total incapacity, early retirement and attainment of age 60, and permanent departure from Hong Kong.

  8. #8

    Join Date
    May 2005
    Location
    Sai Kung
    Posts
    4,151

    Withdrawal of funds from an MPF scheme because the scheme participant is moving overseas can be done, but once only. If that person comes back to HK and becomes liable to MPF contributions again he/she will not be able to withdraw funds should they leave HK permanently.