All mandatory contributions for members are fully and immediately vested as accrued benefits once they are allocated to the members’ MPF accounts. Investment income or profit derived from the investment of accrued benefits within the MPF funds is also vested to the relevant members.
Employers can offset a long service payment or severance payment made to their employees under the Employment Ordinance with vested accrued benefits derived from the employer’s mandatory and voluntary contributions (including ORSO transfers) under an MPF scheme. Employers can request a refund of the relevant amount from the MPF account of their employees after paying the employees.
In handling the request for offsetting the long service payment or severance payment, we will calculate the relevant amount according to the following offset sequence:
All benefits will be paid in Hong Kong dollars.
MPF mandatory and additional voluntary contributions made by employers are profits tax deductible. Employees and self-employed person’s mandatory contributions and voluntary contributions contributed into tax deductible voluntary contributions accounts are also tax deductible but their additional voluntary contributions not contributed into tax deductible voluntary contributions accounts or Flexi-Contributions are not tax deductible. For further details on tax issues, please refer to the latest announcements by the Inland Revenue Department of the Government of the Hong Kong SAR.
|Hang Seng MPF Hotline||MPF Specialists at Designated Branches|
|Existing MPF Customers||Service hours: Mon - Fri, 9 am to 5 pm|
|- Employers: 2288 6822|
|- Members / Self-employed persons: 2213 2213|
|- HKSARG Employees: 2269 2269|
|Non-existing MPF Customers|
|- Enquiries / Apply for Hang Seng MPF: 2997 2838|