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MPF for the self-employed

Select and enrol in an MPF scheme within 60 days of becoming self-employed

Inside MPF for the self-employed

Choose an MPF scheme that suits you best, as well as the funds your contributions are allocated to. You can also decide whether to make monthly contributions or annual payments.

Everyone has different retirement needs and expectations, so it's important you work out what your retirement income will be and set savings goals.

Why choose HSBC MPF?

We're experienced in all aspects of operating an MPF scheme, enabling us to provide a comprehensive solution to meet your needs.


Who's self-employed?

A self-employed person is a sole proprietor or a partner in a business, or someone who works for themselves and is not employed as an employee.

Who's exempt from enrolling in an MPF scheme?

People who legally do not need to enrol in an MPF scheme include:

  • Domestic employees
  • Self-employed licensed hawkers
  • Persons covered by statutory pension or provident fund schemes, such as civil servants and subsidised or grant school teachers
  • Members of occupational retirement schemes that have been granted exemption certificates
  • Non-permanent residents from overseas who enter Hong Kong SAR for the purposes of employment for less than 13 months, or who are covered by overseas retirement schemes
  • Employees of the European Union Office of the European Commission in Hong Kong SAR

Responsibilities of self-employed persons

If you are self-employed, you must enrol in an MPF scheme regardless of your relevant income or whether a business registration is required.

Once you've enrolled, you must inform the trustee of the following:

  • Your relevant income

    You must notify the administrator before 1 June each year of your relevant income for the next financial year of the scheme (ie 1 July to 30 June). The administrator will send you a letter together with a Self-employed Person Relevant Income Declaration Form IN24 [PDF] in April each year.

    If we don't hear from you, it'll be regarded as acknowledgement that your relevant income has not changed from the last financial year.

  • Your chosen payment frequency and contributions

    If you want to modify the frequency or payment basis for the next financial year of the scheme, you must also notify the administrator before 1 June each year. You can make annual or monthly contributions and pay for them by direct debit or by cheque.

  • Any change to your circumstances or contact details

    If you start to work for someone else, you can elect to transfer your accrued benefits to an HSBC MPF personal account. You can also transfer your accrued benefits to your new employer's MPF scheme or another scheme of your choice.

Additional information

You should calculate your mandatory contributions based on your relevant income and pay the contributions to your MPF trustee before the end of each contribution period.

What is relevant income?

If you're self-employed, your relevant income is defined as the assessable profits in your most recent Notice of Assessment from the Inland Revenue Department.

How should the self-employed make contributions?

You can choose to pay your MPF contributions either once a month or once a year.

Relevant income
Per month Per year Contribution
Less than HKD7,100 Less than HKD85,200 Nil
HKD7,100-30,000 HKD85,200-360,000 5%
More than HKD30,000 More than HKD360,000 HKD30,000 x 5% per month or
HKD360,000 x 5% per year

Making voluntary contributions

Self-employed persons can choose to make regular voluntary contributions directly on Remittance Statements or by filling in the relevant forms.

HSBC MPF also offers you an easy way to make voluntary contributions through tax deductible voluntary contributions or additional voluntary contributions.

Tools to help you assess your situtaion

Want the best for your retirement years? Our calculator can help you estimate how much retirement savings you will need based on your goals and dreams.

Already retired? Use this tool to estimate how likely your retirement savings will last based on your lifestyle and plot a spending plan.

Important notes

  • The information contained here is for reference only and will be updated without notice. The provisions of the Mandatory Provident Fund Schemes Ordinance, other applicable legislation/regulations and guidelines or announcements published by the Mandatory Provident Fund Schemes Authority shall prevail for any information on MPF system. If you are in doubt about the meaning or the effect of the contents of this website, you should seek independent professional advice.
  • Investment involves risks. Past performance is not indicative of future performance. The value of financial instruments, in particular stocks and shares, and any income from such financial instruments, may go down as well as up. For further details including the product features and risks involved, please refer to the MPF Scheme Brochure.