Due to low birth rates and comprehensive medical care services, Hong Kong life expectancies is increased, thus Hong Kong is facing the challenge of a rapidly ageing population. As the population collectively grows older, the working population will have a much larger number of retirees to support. The application of MPF is helping all working levels to prepare for their retirement. With the reasonable growth, 5% of monthly income and the employer’s contribution would generate a principal to support the retirement.
|Monthly relevant income||Employer's contributions||Employee's contributions|
|Less than HK$7,100||Relevant income x 5%||Not Required|
|HK$7,100 - HK$30,000||Relevant income x 5%||Relevant income x 5%|
|More than HK$30,000||HK$1,500||HK$1,500|