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Abolition of MPF Offsetting Arrangement
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Employer
- The abolition of MPF offsetting arrangement
- The abolition has no retrospective effect
- Calculation of severance payment (SP)/ long service payment (LSP)
- Employers should not dismiss employees before the transition date
- The abolition arrangement for occupational retirement schemes
- Application of the abolition
- Keeping wage records of employees
-
Employee
- The abolition of MPF offsetting arrangement
- The abolition has no retrospective effect
- Calculation of severance payment (SP)/ long service payment (LSP)
- Shortfall in aggregate benefits will be made up by the Government
- The abolition arrangement for occupational retirement schemes
- Application of the abolition
-
Employer
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- Government Subsidy Scheme
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