Hong Kong considers raising MPF contributions after 13-year freeze on thresholds

Hong Kong's Mandatory Provident Fund Authority (MPFA) is considering raising the contribution thresholds for the Mandatory Provident Fund (MPF) after a 13-year freeze. MPFA chairwoman Ayesha Macpherson Lau indicated the review follows consultations with stakeholders since February regarding adjustments to the minimum and maximum income levels used to calculate contributions. The potential increase aims to alleviate the financial burden on low-income employees and ensure adequate retirement protection for higher earners, addressing concerns that current contributions are out of touch with the cost of living. The MPFA will consolidate feedback from labor groups, businesses, and employers into a review report to be submitted by mid-year. Previous review cycles maintained 2013-2014 levels due to social and pandemic-related factors.

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