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How Did Unions View the 2011 MPF Threshold Changes?

2011-06-16
Marcus Tang

Why did Lee Cheuk-yan back the new 2011 income levels?

In 2011, unionist legislator Lee Cheuk-yan welcomed raising the MPF income floor from HK$5,000 to HK$6,500, estimating 180,000 low-paid workers would stop contributing — effectively a pay rise. He argued the scheme failed low-income workers’ long-term needs, so more take-home pay was the right call.

How many were hit by the ceiling rise?

The proposed monthly maximum rose from HK$1,000 to HK$1,250, meaning about 514,000 people earning HK$25,000+ would pay HK$250 more a month from June 2012.

How to make higher contributions work?

Pick strong, low-fee funds at MPF fund comparison to maximise the extra money.

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