Under the
MPF Schemes, maximum and minimum income levels have been
set for mandatory contribution purposes. For employee whose
relevant income is less than $5,000* per month, mandatory
contributions are not required from the employee, but the
employer must contribute an amount equal to 5% of the employee's
income. If the employee's relevant income exceeds $20,000
per month, both the employee and the employer are only required
to contribute 5% of $20,000, i.e., $1,000 per month respectively.
* Effective on February 1, 2003 |