You should enrol new employees in an MPF scheme within the first 60 days of their employment. If the 60th day falls on a Saturday, public holiday, gale warning day or a black rainstorm warning day, the enrolment deadline will be postponed to the next working day.
When should I enrol employees under the age of 18 in an MPF scheme?
You should enrol employees in an MPF scheme on or before their first 60 days of employment, or on their 18th birthday, whichever comes later. Additionally, you should begin making contributions starting on the employee's 18th birthday. The employee should also make contributions beginning on their 18th birthday, or from the first day of the first complete contribution period after their 30 days of employment, whichever is later.
Do I need to enrol an employee who works in mainland China in an MPF scheme?
If the employment contract is governed by the Hong Kong Employment Ordinance, you must enrol your employee in an MPF scheme. However you do not have to enrol your mainland employees in an MPF scheme. The MPF System is intended to provide retirement benefits only to members of the workforce in Hong Kong.
Do I need to enrol part-time employees working less than 18 hours per week?
Yes. If a part-time employee has worked for more than 60 calendar days under the employment contract, he/she has to join an MPF Scheme.
Do I need to enrol relatives who are helping me in the family business in an MPF scheme?
If the relatives live at the same address as you, you are not required to enrol them in an MPF scheme. However, if they do not live at the same address, you must enrol them.
Do I need to enrol my maid in an MPF scheme?
No. Domestic employees are exempt and not required to join an MPF scheme.
Do I need to enrol my overseas employees in an MPF scheme?
If the period your overseas employees are permitted to work in Hong Kong does not exceed 13 months, or if they are covered by their home country pension schemes, they are not required to join an MPF scheme.
One of my overseas employees was given permission to work in Hong Kong for one year, but this was later extended for another six months. Do I need to enrol him/her in an MPF scheme?
Yes, you must enrol him/her in an MPF scheme within 60 days of the end of the 13-month period, assuming they are not covered by a pension scheme in their home country.
Calculation of MPF contribution starts from the day your new employee joins the company. If employment with the new employee ends before the 60th day, no MPF contribution is required from you or the new employee. If employment passes the 60th day, you need to make MPF contribution payment on or before the 10th day of the month, following the calendar month on which the 60th day of employment falls.
Do I need to keep all my remittance statements?
Yes. According to the MPF Ordinance, employers must keep employee information included in the remittance statement for at least 7 years.
How can I inform employees of the amount of the mandatory contributions I make for them?
As an employer, you have to provide all employees with a monthly pay record within 7 working days of making a contribution. The pay record should contain information such as the amount of relevant income payable during the month, the amount of contributions (mandatory and voluntary) made by you and the employee, and the date on which the contribution was paid.
How is relevant income determined?
Relevant income includes payment such as: wages, salaries, leave pay, fees, commissions, bonuses, gratuities, perquisites, housing allowance/benefit or other allowances, expressed in monetary terms, to an employee for his/her service under an employment contract. However, relevant income does not include any deduction or payment in place of notice, payment made on special occasions (such as marriage), rewards for passing professional examinations, severance payments or long service payments under the Employment Ordinance.
Should I submit the remittance statement to the trustee if my employees have zero relevant income?
Yes. You have to submit the remittance statement showing the amount of an employee’s relevant income, even if that amount is zero, when making contributions to the trustee.
How can I submit contribution data to AIA?
To help you easily fulfil your contribution obligations, we provide you with various tools to ease your administrative burden. You can submit the contribution data by the following channels:
When should I make contributions for employees who are leaving?
You must submit final contributions for departing employees within 10 days after the end of the calendar month during which they ceased employment. These contributions must include contributions from you and the departing individual.
What should I do if I need to claim reimbursement of severance payments (SP) or long service payments (LSP) made to employees who are leaving?
When should I pay the Long Service Payment (LSP)/Severance Payment (SP)?
You have to pay out LSP/SP within 7 days of the termination date of an employee's contract. You can then apply for reimbursement from AIA, and we will start processing the payment upon receipt of full documentation from you and the departing employee.
Are overseas staffs required to join an MPF scheme?
If the period an overseas staff is allowed to work in Hong Kong does not exceed 13 months, or he/she has been covered by his/her home country pension scheme before, then he/she is exempt from the MPF scheme. Otherwise, they have to join an MPF scheme.
My company has assigned me to work in mainland China. Should I join an MPF scheme?
If the contract with your employer is governed by the Hong Kong Employment Ordinance, your employer has to enrol you in an MPF scheme regardless of your work location.
How do I know whether my employer has enrolled me in an MPF scheme?
AIA will issue you a Notice of Participation within 30 days of you becoming a member of our MPF scheme.
I am a part-time employee. Am I covered by the MPF system?
If you are employed under a contract for no less than 60 calendar days, you are covered by the MPF system regardless of the number of hours you work.
Can my employer withhold benefits accrued from their portion of mandatory contributions if I am dismissed due to misconduct, fraud or dishonesty?
No. The mandatory contributions made by you and your employer will be fully vested as your accrued benefits in the scheme. However, whether benefits accrued from the voluntary contributions will be withheld by your employer depends on the governing rules of your scheme.
Do I have to notify AIA on how to handle my accrued benefits upon ending my employment?
Yes, because your former employer will have to notify AIA about your leaving. Within 30 days after receiving your former employer's notification, AIA will inform you in writing of the transfer options you can choose and the consequences of not informing us.
How can I know if my benefits have been transferred to the new MPF trustee?
When the transfer of accrued benefits is completed, you will receive a transfer statement from the existing trustee. The statement covers the details of the transfer, such as the transferred amount, the date and the name of the scheme. Additionally, you will receive a confirmation statement from the new trustee stating the amount transferred.
Can my employer offset my Severance Payment ("SP") or Long Service Payment ("LSP") by taking out the accrued benefits from my MPF account?
Yes. If your employer has paid you severance or long service payments in accordance with the Employment Ordinance, they may apply to the trustee to withdraw benefits accrued to you from their contributions. If your accrued benefits from the employer's contributions exceed the amount of SP/LSP, the remaining balance must be retained in your account. On the other hand, if the accrued benefits from the employer's contributions cannot fully offset the SP/LSP, they are required to settle the remaining SP/LSP from their own funds.
If a member passes away, how should his/her personal representative claim the benefits?
The personal representative should complete the Claim Form for Payment of Accrued Benefits and submit it with the following documents to the trustee:
A copy of the personal representative's Hong Kong Identity Card
A copy of Letter of Probate or Letter of Administration granted by the Probate Registry
Fund Switching allows you to change an existing and/or future balance investment allocation.
How do I make a fund switching request?
You may make a fund switching request by calling the interactive voice response system at (852) 2200 6288, or via My AIA. Alternatively, you can complete the Investment Mandate Form and send it to us through your employer.
If you perform fund switching by submitting a paper form, the requested switch will be processed from the day AIA receives your form, and not from the day it was submitted to your employer.
Are there any restrictions on fund switching?
Due to the nature of the Guaranteed Portfolio, you are only allowed to switch out once each scheme year, regardless of your switching channel. With every switching request in the Guaranteed Portfolio, the previous and the requested revised allocation percentage for the existing balance will be compared. If the revised allocation percentage is smaller than the previous allocation percentage, it will be considered a switch from the aforementioned portfolio.
You should check your account balance before switching your investment option. Your allocation must be in multiples of 5% and the total should add up to 100%. The allocation of your existing balance investment will not be processed if there is no fund balance in your account.
Is there any fee incurred for fund switching?
No, there aren’t any fees for fund switching.
What is the difference between changing an existing balance investment allocation and a future investment allocation?
Changing an existing balance investment allocation means changing the investment choice of all or part of your existing investments while leaving the investment choice of future contributions among constituent funds unchanged.
Changing future investment allocations means changing the investment choice of future contributions while leaving existing investments unchanged.
What will happen if I place more than one fund switching request in a day?
If you place more than one fund switching request via our website in a day, the last request received before 4:00 p.m. on that business day will be considered the final one. A switching request received after 4:00 p.m. on any business day will be processed on the next business day. A reference number will be issued for each transaction.
How do I cancel my fund switching request?
Except for requests made via paper, you can cancel any fund switching request via our member hotline at (852) 2200 6288 or My AIA before 4:00 p.m. on a normal business day on which you have made the request.
How can I know whether my Annual Benefit Statement has been sent out by AIA?
According to the MPF regulation, we must ensure scheme members are provided with the Annual Benefit Statement within 3 months after each financial period (every November). If you still have not received the statement by the following February, please call our member hotline at (852) 2200 6288.
How do I know whether my e-Application has been accepted?
If your application has been accepted, you will receive an instant online confirmation. If you are not an existing AIA member, you will also receive the Notice of Participation and the Member’s Guide by post.
Can I settle my monthly/annual contribution via e-Cpayment?
No, e-Cpayment can now only be used to settle the ad hoc lump sum contribution. Please settle your monthly/annual contribution by direct debit or a CCB (Asia) credit card.
How do I make an ad hoc lump sum contribution via e-Cpayment?
To make a lump sum contribution via e-Cpayment, login to My AIA, select a member account on the member login main page, and click "e-Cpayment" at the top of the menu.
How do I know whether my contribution has been received?
If your contribution has been received, you will get an instant online confirmation. If you have activated the e-Alert service, you will also receive an e-Alert message.
When and how will my contribution be invested?
Under normal circumstances, contributions received on or before 4:00 p.m. on a business day will be invested on that same day. Contributions received after 4:00 p.m. will be marked as received and processed the next business day.
Relevant income is equal to your assessable profits, calculated in accordance with Inland Revenue Ordinance. For more details, please refer to the Inland Revenue Department website.
How much do I need to contribute? When should I pay the contributions?
As a self-employed person, you have to contribute 5% of your income, though relevant income is subject to maximum and minimum levels. If you earn less than the minimum relevant income level, you do not need to make contributions, but you may choose to make voluntary contribution on a monthly or yearly basis.
If you choose to contribute on a yearly basis, you should pay your contributions to AIA by the end of each financial year for the scheme. If you choose to contribute on a monthly basis, you should inform AIA of a date chosen for your monthly contribution and make the relevant payments by that time each month.
If I am a member in a partnership, how should I calculate my relevant income?
Your relevant income for the financial year of the scheme should be calculated by making proportional adjustments according to your share of the partnership and the business’s profits for that period.
How do I calculate my relevant income and the contribution amount if I own more than one business?
If you have more than one business, your relevant income is the combined incomes from all of your businesses for that period, including profits and losses. Your mandatory contribution is 5% of that aggregate amount, up to a maximum of HK$1,500 per month or HK$18,000 a year.