MPF System
Mandatory Contributions
Use digital channels to handle MPF contributions: Convenient, reliable, efficient and environmentally friendly
- Calculate the contribution amount accurately;
- Complete the remittance statement (ensuring the contribution amount on the remittance statement and the actual contribution amount match); and
- Ensure that there are sufficient funds in the bank account and that the contributions and remittance statements reach the trustee on time.*
- Employers can use the electronic tools provided by trustees to accurately calculate their employees’ MPF contributions to avoid surcharges arising from inaccurate calculations for contributions, and incorrect or incomplete information on the remittance statement, which cause a delay in the trustee’s handling of the contributions.
- By using autopay or other electronic channels provided by the trustees to make the MPF contributions, employers can avoid late payment surcharges because of a delay in postal delivery or a dispute about the payment date.
- The updated contribution records of the employees are saved in the electronic tools provided by some trustees. The employers who uses these e-tools can update or modify the records easily without having to fill in the same information each time.
- Employers can check past remittance statements and electronic payment records for easier and more systemic management of records.
- In the long run, handling MPF matters in a paperless manner is not only environmentally friendly, but also drives the reduction of administrative fees of MPF schemes.
Please note that it is important for employers to ensure that their MPF contributions and relevant documents are submitted on time. If there are any delays or errors (whether by late submission or insufficient funds) resulting in the contributions being late, the employer will be liable to a surcharge equivalent to 5% of the contributions in arrears.
- Reporting MPF contribution information (Remittance Statements)
- Online Contribution Tool Employers can calculate and submit MPF contributions through the online system set up by their trustee.
- HR Management/ Payroll Software The one-stop MPF contribution software provided by the trustee allows employers to handle various human resources management matters, like the calculation of MPF contributions, payroll, taxes and holiday management.
- Prescribed Spreadsheet Electronic reports with automatic calculation of contributions and a contribution file can be submitted via email or uploaded via the trustee's electronic platform.
- Payment of MPF Contributions
- Autopay
- Other electronic payments
- User Guide and/or Demonstration Video
- To assist employers who have not used or do not know how to use electronic tools to handle MPF matters, most trustees provide a user guide and/or demonstration video.
- To assist employers who have not used or do not know how to use electronic tools to handle MPF matters, most trustees provide a user guide and/or demonstration video.
- Trustee Hotline
- The trustees provide technical support for employers. Employers can call their trustee’s customer service hotline if they have any questions about using the electronic tools.
- The trustees provide technical support for employers. Employers can call their trustee’s customer service hotline if they have any questions about using the electronic tools.
- Online Security
- The trustees will take appropriate measures to ensure that employers and employees can use their electronic services securely.
Learn More: Electronic Tools and Services Provided by Trustees
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