MPF is an employment-based retirement protection system. Except for exempt persons, employees (regular or casual) and self-employed persons who are at least 18 but under 65 years of age are required to join an MPF scheme.
Both full-time and part-time employees (except for exempt persons) are covered by the MPF System.
Employers in all industries should enroll their regular employees (i.e. employees who are at least 18 but under 65 years of age and have been employed for a continuous period of 60 days or more) in an MPF scheme within the first 60 days of employment.
Self-employed persons who are at least 18 but under 65 years of age must enrol themselves in an MPF scheme within 60 days after they have become self-employed, unless they are exempt persons.
To encourage the public to save early for retirement financial planning purpose, legislation has been passed to provide tax incentives for scheme members to make tax deductible voluntary contributions (TVC) starting from 1 April 2019.