Abolition of MPF offsetting arrangement

VO: From May 1, 2025, MPF offsetting will be abolished. Employers’ mandatory contributions can no longer be used to offset the post-transition portion of employees’ severance payment or long service payment. But employers need not worry. The Government’s 25-year subsidy scheme will be in place to share employer expenses. Employers and employees need to know, offsetting is about to go! For details, visit www.op.labour.gov.hk.