The Mandatory Provident Fund is a compulsory saving scheme (pension fund) for the retirement of residents in Hong Kong. Most employees and their employers are required to contribute monthly to mandatory provident fund schemes provided by approved private organisations, according to their salaries and the period of employment.
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Casual employees Casual employees are employees aged 18 to 64 and employed in the construction industry or the catering industry on a day-to-day basis or for a fixed period of less than 60 days.
Self-employed Persons
Under the MPF System, self-employed persons are those who earn income from the production of or trade of goods or services in a capacity other than that of an employee (i.e. those who work for themselves).
Sole proprietors and partners in a partnership are regarded as self-employed persons.
Exempt Persons
The following are exempt persons who are not required to join an MPF scheme:
- employees and self-employed persons who are under 18 or over 65 years of age
- domestic employees1
- self-employed hawkers
- people covered by statutory pension or provident fund schemes, such as civil servants and subsidized or grant school teachers
- members of occupational retirement schemes which have been granted MPF exemption certificates
- overseas persons who enter Hong Kong under section 11 of the Immigration Ordinance for the purpose of employment for not more than 13 months, or who are covered by overseas retirement schemes
- employees of the European Union Office of the European Commission in Hong Kong