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hkgirlo
Joined: 05 Oct 2004 Posts: 57 Location: Hong Kong
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Posted: Mon Dec 20, 2004 6:03 am Post subject: question about MPF |
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Does anyone know how long you must work for a company before you are eligable to recieve the companies contributions to your MPF? Just curious.... I worked for a company for 2 1/2 years and have just changed companies..someone mentioned that I may not get the money the company put towards my MPF if I didn't work for a specified amount of time...anyone know? |
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321 Tommy

Joined: 27 Oct 2004 Posts: 28 Location: Hong Kong
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Posted: Mon Dec 20, 2004 3:39 pm Post subject: |
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Hi, i'm going through the MPF motions with my company at the moment.
If your contract is for more than thirteen months then your company should have opened up an account for you, and there should be money stored for you. 5% from your wages and 5% from your company.
There's some inforamation here
www.mpfahk.com/viewPage.asp?...No=1&keyword=#4
and here
www.mpfahk.com/main.asp?pageNo=7&langNo=1
Hope this helps!
I'm hoping that a 12 month visa will make me exempt from the MPF scheme. I don't want to take part in it.
If I want to claim the money back then I must reach the age of sixty, or permanently leave HK signing a form to say that I will not take up employment here again. I don't want to make a statement such as that; I'd rather just have my money now. Apparently, you can come back to work even after making this declaration but you can't go through the same process again to claim the money back.
MPF banter. Does anyone know how I can make sure I'm exempt from the MPF scheme? I don't want a pension at this moment in time! I'd rather concentrate on paying off debt...
Hope the links are of use hkgirlo |
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Liam

Joined: 28 Sep 2004 Posts: 70
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Posted: Mon Dec 20, 2004 4:03 pm Post subject: |
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Tommy (3-2-1?) and hkgirlo,
I believe a period of 12 months is key to the MPF. My employer (a 12-month contract) offered me the option of an MPF, I said no for similar reasons as Tommy (Is it Tommy, Mr Tommy, 3-2-1? Intriguing name...) I was told I was able to opt out as my contract was only a yr. I've heard that for longer contracts it's a requirement. However, I don't know if this is a government requirement or if it's just a common employer requirement for convenience. Also, I'm not sure how this works for open ended contracts. I've not checked out the above links as I don't really have any MPF worries (as yet!?) but keep us all informed.
Merry Christmas, y'all. |
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hkgirlo
Joined: 05 Oct 2004 Posts: 57 Location: Hong Kong
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Posted: Tue Dec 21, 2004 2:58 am Post subject: that wasn't my question...... |
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I don't think you understood my question. I have an MPF account, of course. I have been working here for three years. My question is: How long do you have to work for a company to recieve what THEIR contributions? For example, my company has paid into it, but if I work for them less than the specified time (which is what i am trying to find out) then I will not recieve the 5% that they contributed, only what I put in. Understand??? Anyone know the answer? |
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Liam

Joined: 28 Sep 2004 Posts: 70
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Posted: Tue Dec 21, 2004 3:42 am Post subject: |
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OK, I understand where I got confused, sorry.
Erm... I can't give you an exact answer I'm afraid, but going from what you say (3 years) I think you should have no problems getting your employer's contribution. I have recollections of a friend doing the same about a year ago after only 2 years in her job.
I can't promise but I don't think you should have any problems.
Sorry again, let us know how you get on. |
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321 Tommy

Joined: 27 Oct 2004 Posts: 28 Location: Hong Kong
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Posted: Tue Dec 21, 2004 4:51 am Post subject: |
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Like i said, more than 13 months. If your contract has exceeded 13 months then they have paid. And therefore you can claim your money.
Thought about phoning someone from the MPF? |
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once again
Joined: 27 Jan 2003 Posts: 815
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Posted: Tue Dec 21, 2004 11:20 am Post subject: |
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As I understand it, any compulsory contributions made by the company are yours forever. No company has ever tried to take any money back from me.The only contributions that they can take back are voluntary ones. ( Some companies ofer these as a way to entice staff to stay)
From my experience..if you are employed for a period of more than sixty days, regardless of the amount of pay or hours, MPF must be paid. If the pay is below (I am only going from memory here, and the rules may have changed) 5,000 per month, then the company must pay but not the employee. Hence, I did a Saturday afternoon job-1.5 hours a week- on a 12 week contract, and the company paid MPF, but not myself.
For my latest job, I recieved 3 salary payments without paying any MPF, then it was taken out. I only have a twelve month contract.
I really think that it is about 90 days for a contract and then they have to pay. Many companies who employ part time are now getting around it by making people independent contractors. This, it seems, means that they do not have to pay MPF, but you do. You must register with the MPF as an independent contractor and pay your own five percent.
If you do not register, however, it appears that there is little chance of them trying to find or chase you.
All of the above is just based on my own experience and really anybody seeking real "truth" should check out the relevant websites. |
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once again
Joined: 27 Jan 2003 Posts: 815
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Posted: Tue Dec 21, 2004 11:29 am Post subject: |
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I just checked out the link you provided Tommy and it states there that an employee is anyone under contract for more than 60 days. Not sure then why you seem to think that 13 months is the key number. Any contributions that are compulsory made can not be taken back. |
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321 Tommy

Joined: 27 Oct 2004 Posts: 28 Location: Hong Kong
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Posted: Tue Dec 21, 2004 3:43 pm Post subject: |
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Ok thanks |
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hkgirlo
Joined: 05 Oct 2004 Posts: 57 Location: Hong Kong
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Posted: Thu Jan 06, 2005 3:25 am Post subject: I don't think my questions have been understood! |
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Let's see if I can state this more clearly.
Ok example... I decide to leave next year. I want to cash in my MPF. I go to do it and I only recieve my contributions for the first 2 1/2 years because (eventhough my employer paid their contributions) I didn't work for the specified amount of time in order to be able to receive them. (not about paying- about receiving)... What I want to know is- can this happen?
I was warned by someone in Canada that they do this there with pension plans- so I want to check it out.
Also, I have heard about people having problems when they leave HK and want to take their money with them- I have heard that they don't always get all of their money.
I want to know if there is a specified time you must work for a company in order to receive (for me to receive -not for them to pay-they have been paying the entire time) their contributions.
Lets say I worked for a company for 2 years, and they paid into MPF and then I started working for another company. When I cash out my MPF will I be screwed out of what the first employer put in because there is something stating that you must work for an employer for 2 1/2 years to receive their contributions?
Got it??? |
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once again
Joined: 27 Jan 2003 Posts: 815
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Posted: Thu Jan 06, 2005 11:24 am Post subject: |
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Once you leave an employer, there is a strong possbility that you will go to another employer with a different MPF provider. If this happens, as has happened to me on three occasions, the original MPF provider will write to you and and tell you that as no more contributions are being paid into the account, unless they hear back from you, the account will be frozen..or some such term. ALL of the money in that account is yours. When you start with the new MPF supplier they will ask you to transfer the money to them. IF you choose to do that...then all of the money will move to that account..to a company that your employer has nothing to do with.
This has happened to me..and the new provider is very happy to do all the leg work.
My comments are only from personal experience..but I have found no reason to think that once money is in my account from compulsory contributions that it can be taken back. HOWEVER>>some companies will pay extra voluntary contributions which are possibly tied to a length of service. If you do not serve for that length of service then the employers voluntary contributions will be taken back. BUT this is a volutary aggreement between you and the employer. IF all of the contributions are compulsory....then they are yours for ever.
CAVEAT>>>this is only from my personal experience...HA HA |
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hkgirlo
Joined: 05 Oct 2004 Posts: 57 Location: Hong Kong
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Posted: Mon Jan 10, 2005 2:35 am Post subject: Thanks |
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Thanks for the advice... thats what I wanted to know. |
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once again
Joined: 27 Jan 2003 Posts: 815
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Posted: Tue Jan 11, 2005 11:48 am Post subject: |
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you are very welcome |
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