MPF is a mandatory provident fund for working people aged 18 to 65.

Working people, including: employees, employers and self-employed persons.

However, the following people are exempted from the payment: domestic helpers, hawkers, civil servants, teachers in subsidized and subsidized schools, people who have participated in recognized occupational retirement schemes, and people who come to Hong Kong to work for a short period of time.

Hong Kong's Mandatory Provident Fund was established in 2010 and has undergone many adjustments. Now, if the total income is less than $25,000, the contribution amount of both the employer and the employee is 5% of the employee's "relevant income".

For employees earning more than $25,000, the mandatory MPF contribution limit is $1,250.

Due to the impact of the minimum wage, employees whose latest income is less than $7,100 do not need to contribute, but employers still need to contribute 5%.

In addition, MPF is an investment fund, which has returns, but also carries certain risks. Therefore, the government began to implement MPF semi-freedom in 2012, which allows employees to choose their own fund companies to manage their MPF portion. This is similar to

Domestic social security is different. Domestic social security is almost similar to the provident fund in Hong Kong. It has no investment profit function, so it basically cannot offset inflation.

The above is my understanding of MPF, all done by myself. I hope it can help you.