In Hong Kong, the Mandatory Provident Fund Scheme Ordinance ("MPFSO") came into effect on 1 December 2000. Under a Mandatory Provident Fund Scheme, each of the employee and employer is required to contribute 5% of the employee's monthly relevant income to the fund. The maximum level of income for contribution purpose is HK$30,000 per month (effective 1 June 2014). Accordingly, the maximum mandatory contribution for each of the employee and employer is HK$1,500per month (effective 1 June 2014). An employee whose income is less than HK$7,100 (effective 1 November 2013) per month is not required to make mandatory contributions. However, the employer of such employee is still required to contribute and amount that is equal to 5% of the employee's monthly income.
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Occupation Retirement Scheme Ordinance ("ORSO")
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