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MPF contributions have been increased. The Legislative Council has passed the amendment of the maximum level of relevant income for MPF mandatory contributions, effective 1 June 2012. Key points are as below:
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For monthly-paid regular employees, the max. level of relevant income has been amended from $20,000 to $25,000 monthly. The max. contributions have been adjusted from $1,000 to $1,250 monthly ($250 more).
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For self-employed persons, the max. level of relevant income has been amended from $20,000 to $25,000 monthly and from $240,000 to $300,000 yearly. The max. contributions have be adjusted from $1,000 to $1,250 monthly or from $12,000 to $15,000 yearly.
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