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Mandatory Provident Fund Schemes Authority CODE ON DISCLOSURE FOR MPH INVESTMENT FUNDS First Edition June 2004 Hong Kong Table of Contents Page EXPLANATORY NOTES............................................................................................1

How to fill out mandatory provident fund schemes

How to fill out mandatory provident fund schemes:

1. Understand the eligibility requirements: Before filling out the mandatory provident fund schemes, it is important to determine if you are eligible to participate. Generally, employees in Hong Kong aged 18 to 65 and earning a monthly income of HKD 7,100 or above are required to contribute to the scheme.
2. Obtain the necessary forms: Contact the relevant provident fund administration authority or your employer to obtain the required forms for enrollment or contribution adjustments. These forms can also be often found online.
3. Provide personal information: Fill out the forms accurately, providing your personal information such as full name, Hong Kong Identity Card number, contact details, and employment details. Ensure that the information provided is correct and up-to-date.
4. Choose your contribution level: Decide how much you want to contribute to your mandatory provident fund. The minimum contribution is usually 5% of your relevant income, but you can choose to contribute more if desired. Consider factors like your financial goals, age, and retirement plans while determining the contribution level.
5. Nominate a trustee or selection fund: Select a trustee or a specific investment fund for your mandatory provident fund contributions. Consider your risk appetite and investment objectives when choosing the trustee or fund. You may seek professional advice if you are unsure about the options available.
6. Submit the forms: Once you have completed the forms and made your decisions, submit the completed forms to the relevant provident fund administration authority or your employer as instructed. Double-check the forms for any errors or missing information before submission.

Who needs mandatory provident fund schemes:

1. Employed individuals: Mandatory provident fund schemes are primarily designed for individuals who are employed in Hong Kong. If you are working for an employer in Hong Kong and meet the eligibility requirements, you are generally required to participate in the scheme.
2. Self-employed individuals: While mandatory provident fund schemes are primarily targeted at employed individuals, self-employed individuals who meet the eligibility criteria can also voluntarily contribute to the scheme. This can be beneficial in building a retirement fund and enjoying the tax benefits associated with the scheme.
3. Individuals planning for retirement: The mandatory provident fund schemes cater to individuals who are planning for their retirement. By participating in the scheme, individuals can accumulate savings over time, which can be used to support their lifestyle after retirement.
4. Individuals seeking retirement benefits: The scheme provides retirement benefits to eligible individuals. By contributing to the mandatory provident fund, individuals can strive to secure their financial well-being during their retirement years, ensuring a better quality of life.
5. Employers and employees fulfilling legal obligations: Employers in Hong Kong are legally obligated to contribute to the mandatory provident fund for their eligible employees. Likewise, employees are required to contribute their share as well. Therefore, both employers and employees need to be aware of and comply with the mandatory provident fund schemes.

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What is mandatory provident fund schemes?

Mandatory provident fund schemes are retirement savings plans established in Hong Kong to help employees save for their retirement.

Who is required to file mandatory provident fund schemes?

All employers in Hong Kong are required to file mandatory provident fund schemes for their employees.

How to fill out mandatory provident fund schemes?

Employers can fill out mandatory provident fund schemes online through the MPF system provided by the Mandatory Provident Fund Schemes Authority.

What is the purpose of mandatory provident fund schemes?

The purpose of mandatory provident fund schemes is to ensure that employees have a source of income during retirement and to help them save for their future.

What information must be reported on mandatory provident fund schemes?

Mandatory provident fund schemes must report information about employees' contributions, employer contributions, investment returns, and account balances.