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- MPFA reminds self-employed persons of their MPF rights and obligations
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MPFA reminds self-employed persons of their MPF rights and obligations
The Mandatory Provident Fund Schemes Authority (MPFA) will issue letters to about 5,000 self-employed persons (SEPs) who have recently enrolled in MPF schemes, reminding them of their statutory obligations to make MPF contributions regularly.
To further enhance compliance among SEPs, the MPFA will step up publicity on the MPF rights and obligations of SEPs through various channels. The initiatives include
To further enhance compliance among SEPs, the MPFA will step up publicity on the MPF rights and obligations of SEPs through various channels. The initiatives include
- sending letters to about 4,700 SEPs who have enrolled in MPF schemes in the past six months to remind them of their obligation to make MPF contributions regularly. Enclosed with the letter is a new information leaflet "Guide on MPF Rights and Obligations for Self-employed Persons" explaining the contribution arrangements;
- liaising with over 300 unions or associations of industries with the most SEPs, including the transport and construction industries; the stock broker, insurance and real estate agent industries; beauty and Chinese medicine industries; as well as the retail and wholesale industry. Free talks will be offered to these groups' members, who are encouraged to pay close attention to their MPF accounts and investments;
- joining hands with various organisations, including the Employees Retraining Board and Vocational Training Council, to hold seminars for people who plan to start their own business and to brief them on the MPF obligations of SEPs; and
- conducting outreach visits and publicity activities on a regular basis to disseminate MPF messages to SEPs.
The MPFA will also work more closely with trustees to follow up on suspected cases of SEPs defaulting on MPF contributions. Proactive inspections will also be conducted on suspected non-compliant SEPs.
"The objective of the MPF System is to assist the employed population of Hong Kong to accumulate retirement savings by means of contributions by both employers and employees, as well as SEPs," said MPFA Executive Director (Corporate Services) Thomas Yiu. "SEPs also need to enrol in MPF schemes and make contributions to prepare for their retirement. Through a wide range of activities, we hope that SEPs in each and every sector will get a better understanding of their MPF rights and obligations, and be better equipped with the knowledge about MPF investment."
Representatives of the MPFA and various organisations for taxi and mini-bus drivers paid visits to Wan Chai, Kwun Tong and Mongkok (see photographs below) earlier today (24 November) and on Tuesday (22 November), reminding drivers to look after their MPF accounts closely. Souvenirs and the new "Guide on MPF Rights and Obligations for Self-employed Persons" leaflet were also distributed.
Under the MPF System, SEPs are people aged between 18 and below 65 who are not employed by any person or company and receive income from their production of services or goods in a capacity other than employees, irrespective of their capacity as sole-proprietors or partners. SEPs are required to enrol in an MPF scheme and make contributions regularly.
Thomas Yiu (centre), Executive Director (Corporate Services) of the MPFA, and representatives of minibus organisations remind minibus drivers in various districts of their MPF rights and obligations.
Thomas Yiu (2nd from right), Executive Director (Corporate Services) of the MPFA, and representatives of taxi organisations distribute leaflets and souvenirs to taxi drivers and disseminate MPF messages to them.
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24 November 2011
"The objective of the MPF System is to assist the employed population of Hong Kong to accumulate retirement savings by means of contributions by both employers and employees, as well as SEPs," said MPFA Executive Director (Corporate Services) Thomas Yiu. "SEPs also need to enrol in MPF schemes and make contributions to prepare for their retirement. Through a wide range of activities, we hope that SEPs in each and every sector will get a better understanding of their MPF rights and obligations, and be better equipped with the knowledge about MPF investment."
Representatives of the MPFA and various organisations for taxi and mini-bus drivers paid visits to Wan Chai, Kwun Tong and Mongkok (see photographs below) earlier today (24 November) and on Tuesday (22 November), reminding drivers to look after their MPF accounts closely. Souvenirs and the new "Guide on MPF Rights and Obligations for Self-employed Persons" leaflet were also distributed.
Under the MPF System, SEPs are people aged between 18 and below 65 who are not employed by any person or company and receive income from their production of services or goods in a capacity other than employees, irrespective of their capacity as sole-proprietors or partners. SEPs are required to enrol in an MPF scheme and make contributions regularly.
Thomas Yiu (centre), Executive Director (Corporate Services) of the MPFA, and representatives of minibus organisations remind minibus drivers in various districts of their MPF rights and obligations.
Thomas Yiu (2nd from right), Executive Director (Corporate Services) of the MPFA, and representatives of taxi organisations distribute leaflets and souvenirs to taxi drivers and disseminate MPF messages to them.
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24 November 2011
