Retirement Benefits
Mandatory Provident Fund (MPF)
The MPF System is established as part of Hong Kong’s retirement protection structure. It is a mandatory, privately managed and fully funded contribution system. Subject to income levels, both employers and employees are required to make monthly mandatory contributions of 5% of the employee’s relevant income or HKD 1500 into the employee’s MPF account (updated in Dec 2021). Learn how to calculate contributions here.
An appointee aged between 18 and 65 who is employed for 60 days or more must enrol in the University’s MPF scheme unless he or she is an exempt person under the provisions of the MPF Schemes Ordinance. If you are covered by an overseas retirement scheme, you may apply for exemption from MPF by completing and returning the Declaration Form for Exemption from Mandatory Provident Fund to the Human Resources Office.
Online MPF Submission and FAQs: Click HERE
The University has adopted the HSBC Mandatory Provident Fund Super Trust Plus Scheme. Details of the scheme and the constituent funds under the scheme can be found on HSBC’s website. You may also visit designated HSBC branches with MPF services for a more personal and comprehensive consultation.
Staff Provident Fund (SPF)
An appointee on probationary/ substantive or tenure terms shall, on the assumption of duty, elect in writing to become a member of the Staff Provident Fund. The University’s contribution to the Fund is 15% of the appointee’s monthly salary whereas the appointee is required to contribute 5% of his/ her monthly salary to the Fund. For more details, please click here. Eligible appointees should promptly submit application forms (including the SPF Member Data Form, Self-Certification Form and the Dependant Nomination Form) to the Human Resources Office for processing.