By Adam Hugill
The maximum level of relevant income for the purpose of MPF contributions will increase from HK$25,000 to HK$30,000 per month with effect from 1 June 2014.
The effect of the increase will mean that the monthly employer and employee contributions for employees earning HK$30,000 or more per month will increase from HK$1,250 each per month to HK$1,500 each per month.
The contribution rate for employees earning less than HK$30,000 remains unchanged at 5% of relevant income. Employees earning less than HK$7,100 do not need to make MPF contributions (although employer contributions must still be made).
This article is for information purposes only. Its contents do not constitute legal advice and readers should not regard this article as a substitute for detailed advice in individual instances.