Webinar Invitation | Abolition of MPF Offsetting Arrangement
Accrued benefits derived from employers’ Mandatory Provident Fund (MPF) mandatory contributions (ERMC) will no longer be usable to offset employees’ severance payment (SP) or long service payment (LSP) relating to years of service starting from 1 May 2025 (transition date). However, employers’ voluntary contributions (ERVC) and gratuities can still be used to offset SP or LSP irrespective of the years of service before or after the transition date. The abolition of this offsetting arrangement also applies to occupational retirement schemes (ORSO) under the Occupational Retirement Schemes Ordinance.
This training session provides you with an overview of the abolition of MPF offsetting arrangement from payroll perspective.
The course covers:
- Current Offsetting Arrangement and The Amendment Bill 2022
- Impact on employees starting on or after 1 May 2025
- Impact on employees starting before 1 May 2025
- Impact on Occupation Retirement Schemes (ORSO) members
- Record keeping requirement
- Subsidy Scheme details
Date: 9 April 2025 (Thursday)
Time: 16:00-17:00 (HKT) | 09:00-10:00 (CET)
Language: English
Venue: Microsoft Teams
Our speaker