The Mandatory Provident Fund (MPF) Scheme is the second pillar of Hong Kong's retirement protection system. Full-time, part-time employees and self-employed persons must join if they meet the income requirements.
Who Needs to Contribute?
Employees and self-employed persons aged 18 to under 65 generally must join an MPF scheme. Casual workers in specific industries such as construction and catering must contribute under industry schemes.
Current Contribution Rates
Employees and employers generally each contribute 5% of relevant income. Relevant income normally includes salary, leave pay, commissions, bonuses, gratuities and allowances—not merely base salary.
Income Limits
Below HK$7,100 a month, the employee makes no mandatory contribution, while the employer still contributes 5%. From HK$7,100 to HK$30,000, each contributes 5%. Above HK$30,000, each side is capped at HK$1,500. Non-monthly payroll uses daily limits based on the number of days in the wage period.
Tax Deductible Voluntary Contributions (TVC)
In addition to mandatory contributions, employees can open a TVC account for extra retirement savings with tax deductions. The maximum annual deduction is HK$60,000.
Notes for Self-Employed Persons
Self-employed persons must contribute directly to the trustee and report income on an annual or monthly basis. If income is below the minimum relevant income level, contribution is not required, but voluntary contributions are still possible.
How to Estimate Retirement Accumulation?
Check the current period with the MPF Contribution Calculator, then model long-term outcomes with the MPF Retirement Projection Calculator. Returns are not guaranteed; fees, volatility and contribution gaps matter.