Definition
The Mandatory Provident Fund (MPF) is a compulsory retirement savings scheme implemented in Hong Kong to provide retirement protection and financial security for employees. Under the MPF system, both employers and employees are required to contribute a percentage of the employee's income to designated MPF funds, managed by approved trustees and investment managers. The MPF contributions are invested in various asset classes such as stocks, bonds, and mutual funds to generate returns and accumulate retirement savings over the course of an employee's career. The MPF scheme aims to ensure adequate retirement income for Hong Kong residents and promote long-term financial planning and retirement preparedness in the workforce.
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Private Limited Company (Ltd)
A Private Limited Company (Ltd) is a type of company where the ownership is divided into shares held by a small number of shareholders. The liability of shareholders is limited to the amount unpaid on their shares, and the company’s shares cannot be traded publicly on the stock exchange.
Limited Liability Partnership (LLP)
A Limited Liability Partnership (LLP) is a business structure where partners have limited personal liability for the debts and obligations of the partnership. Each partner’s liability is limited to their investment in the LLP, and they are protected from the actions of other partners.