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MPF

MPF

The Mandatory Provident Fund (MPF) is a compulsory pension fund designed by the Hong Kong government as a major protection scheme for the aged and retired residents.  Most employees and their employers are required to contribute monthly. 

Many people on low wages have complained that the MPF offset leaves them little cash for their retirement. Photo: SCMP

Lobbyists work to change pension rule that has cost workers HK$20b

Legislators and unionists pressed government officials yesterday to scrap or lower the controversial offset provision in the Mandatory Provident Fund pension scheme which has allowed companies to save more than HK$20 billion in the past 13 years at the expense of employees' retirement savings.