Hong Kong considers raising MPF contributions after 13-year freeze on thresholds
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Hong Kong is considering raising Mandatory Provident Fund (MPF) contribution thresholds, which have not changed in 13 years. Ayesha Macpherson Lau, chairwoman of the MPFA, indicated that stakeholder consultations have highlighted the need for adjustments to align contributions with the cost of living. The review aims to address financial burdens on low-income employees while ensuring adequate retirement protection. Current contribution levels are HK$7,100 and HK$30,000, with both employees and employers contributing 5% of salaries. The MPFA plans to submit a review report by mid-year, reflecting feedback from various groups.
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