Abolition of MPF offsetting arrangement
| Moses Chan: | No more offsetting ... |
| Waiter： | What? |
| Moses Chan: | I'm talking about the abolition of MPF offsetting |
| Moses Chan: |
From May 1, 2025 employers’ mandatory contributions can no longer be used to offset employees’ post-transition portion of severance payment or long service payment |
| Super: |
2025 MAY 1 TRANSITION DATE Abolition of Offsetting |
| Super (on graphic): |
Accrued Benefits of Employers’ MPF Contributions 2025 MAY 1 Severance Payment / Long Service Payment Pre-transition Portion Can Offset Post-transition Portion Cannot Offset |
| Moses Chan: |
But employers need not worry The Government’s 25-year subsidy scheme will help share employer expenses |
| Super: |
Logo of Subsidy Scheme for Abolition of MPF Offsetting Arrangement 25-year Subsidy Scheme |
| Moses Chan: |
Employers and employees need to know Offsetting is about to go! |
| Super: |
Employers and employees need to know Offsetting is about to go 2025 MAY 1 Labour Department logo www.op.labour.gov.hk Website QR Code |
