Originally published on 15 June 2011

Keywords: income levels, MPF contributions, minimum relevant income

The Hong Kong Government presented to the Legislative Council yesterday the proposal to increase the minimum and maximum relevant income levels for MPF contributions, details of which are:

  1. The minimum relevant income would be raised from $5,000 to $6,500 per month with effect from 1 November 2011;
  2. The maximum relevant income would be increased from $20,000 to $25,000 per month with effect from 1 June 2012.

An additional 180,090 employees and self-employed persons would be excluded for making mandatory contributions under the former adjustment, while 514,000 employees and self-employed persons would be required to make additional mandatory contributions.

To view the Government's press release, please click the link below:
http://www.info.gov.hk/gia/general/201106/14/P201106140190.htm

Learn more about our Hong Kong office and Employment & Benefits practice.

Visit us at www.mayerbrownjsm.com

Mayer Brown is a global legal services organization comprising legal practices that are separate entities (the Mayer Brown Practices). The Mayer Brown Practices are: Mayer Brown LLP, a limited liability partnership established in the United States; Mayer Brown International LLP, a limited liability partnership incorporated in England and Wales; Mayer Brown JSM, a Hong Kong partnership, and its associated entities in Asia; and Tauil & Chequer Advogados, a Brazilian law partnership with which Mayer Brown is associated. "Mayer Brown" and the Mayer Brown logo are the trademarks of the Mayer Brown Practices in their respective jurisdictions.

© Copyright 2011. The Mayer Brown Practices. All rights reserved.

This article provides information and comments on legal issues and developments of interest. The foregoing is not a comprehensive treatment of the subject matter covered and is not intended to provide legal advice. Readers should seek specific legal advice before taking any action with respect to the matters discussed herein. Please also read the JSM legal publications Disclaimer.