Starting a business and MPF: the self-employed guide

Aspiring entrepreneur Lee Ping-hei asks: do the self-employed have to join MPF? Yes — self-employed people aged 18 to 65 (except casual employees) must join an MPF scheme and make mandatory contributions.

How are self-employed contributions calculated?

The self-employed contribute 5% of relevant income, yearly or monthly. The floor is HK$85,200 a year (HK$7,100 a month) and the ceiling HK$360,000 a year (HK$30,000 a month), capping monthly contributions at HK$1,500.

What if income is below the floor?

Below HK$85,200 a year, no mandatory contributions are required — but you must still join a scheme. Voluntary contributions are worth considering for retirement’s sake.

Any special arrangements?

The self-employed choose their own scheme and funds freely, unconstrained by an employer. Switching plans is more flexible than for employees — a way to manage retirement savings on your own terms.

What if cash is tight at the start?

Don’t neglect retirement savings even when money is tight. MPF contributions are tax-deductible (under prevailing tax rules) — savings plus tax benefits no founder should miss.

Learn about voluntary contributions at the MPF education hub.