How Much More Would a HK$30,000 Contribution Ceiling Cost Workers?

What did the MPFA propose in 2011?

A February 2011 report said the MPFA proposed raising the maximum relevant income from HK$20,000 to HK$30,000 — 470,000 employees and self-employed earning over HK$20,000 would pay HK$413 more a month on average (HK$500 max); employers would pay HK$164 million more monthly, lifting total monthly contributions by HK$361 million. To ease employer burden, a phased rise was suggested — e.g. over four years, HK$22,500 first, costing employers HK$48 million extra a month.

What about the floor?

Up from HK$5,000 to HK$5,500, saving 83,400 low earners HK$255–260 a month.

Why did earlier attempts fail?

The 2002 review already recommended HK$30,000 but the government balked at the economy; 2007’s repeat died over SME-cost fears in LegCo. The law requires a review every four years. Contributing more makes fund choice matter — see MPF fund comparison.