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The Mandatory Provident Fund Schemes Authority (MPFA) reminds employers, employees and self-employed persons that with effect from 1 June 2014, the maximum mandatory contributions for the Mandatory Provident Fund (MPF) will increase from $1,250 to $1,500 monthly. Employees (and their employers) and self-employed persons whose monthly relevant income is more than $25,000 will have to increase their mandatory contributions. Scheme members whose monthly relevant income is $25,000 or below will not be affected.
 
The Legislative Council earlier passed the amendment of the maximum level of relevant income for MPF contributions from $25,000 to $30,000 monthly. For the contribution periods (generally mean wage periods) starting on or after 1 June 2014, MPF contributions of employees and their employers, and self-employed persons are calculated according to the following tables:
 
Monthly-paid employees and their employers

 

Self-employed persons making monthly or yearly contributions

The MPFA reminds employers that they must make contributions according to the above tables for the contribution periods commencing on or after 1 June. Employees can call the MPF Contribution Enquiry Line on 183 3030, which will connect them to the relevant trustees to check whether their employer has made contributions for them accurately and on time.
 
As for self-employed persons, their trustees will make the necessary contribution arrangement. They may contact their trustee to enquire about the arrangement or to report their relevant income.
 
For casual employees in the construction and catering industries under the Industry Schemes, the maximum level of relevant income will increase from $830 to $1,000 daily, effective from 1 June. The maximum contribution for casual employees and their employer is capped at $50 daily each.
 
To obtain more information on the new maximum level of relevant income, please refer to the leaflet produced by the MPFA or visit the MPFA website. For enquiries, please call the MPFA hotline on 2918 0102.
 
Under the MPF System, an employee’s relevant income refers to any wages, salary, leave pay, fee, commission, bonus, gratuity, perquisite or allowance, expressed in monetary terms, paid by an employer to the employee. It does not include severance payments or long-service payments under the Employment Ordinance. Self-employed persons may use the “assessable profits” in their most recent notice of assessments, the basic allowance or the maximum level of relevant income as their relevant income. They can also make a written declaration to their trustees to declare their relevant income (subject to circumstances).
 
- Ends -

30 May 2014