Question 1

What is the difference between MPF TVC and SVC?

Accepted Answer

Tax Deductible Voluntary Contributions (TVC) are voluntary MPF contributions that qualify for salaries tax deduction of up to HK$60,000 per year. TVCs must be made into a separate TVC sub-account within your MPF scheme and can only be withdrawn at retirement age 65. Special Voluntary Contributions (SVC) are additional contributions that do not carry a tax deduction but can be withdrawn at any time with fewer restrictions. Both TVC and SVC are separate from the mandatory 5% contributions made by employees and employers. Source: mpfa.org.hk.

Question 2

How much tax do I save with MPF TVC contributions?

Accepted Answer

TVC contributions are deductible from your salaries tax assessable income up to HK$60,000 per year. At the standard rate of 15%, this equals a maximum annual tax saving of HK$9,000. For taxpayers in the marginal rate bands, savings depend on their effective tax rate. For example, a professional earning HK$800,000 annually saving HK$60,000 in TVC receives the full HK$9,000 standard rate saving, or more if their marginal rate exceeds 15%. TVC deductions are separate from mandatory MPF contribution deductions.

Question 3

What is the MPF monthly mandatory contribution for 2026?

Accepted Answer

For 2026, the MPF mandatory contribution is 5% of monthly relevant income from both employee and employer, capped at monthly income of HK$30,000 (maximum monthly mandatory contribution HK$1,500 per party, HK$3,000 combined). Members earning below HK$7,100/month (Minimum Relevant Income Level) are exempt from employee contributions but employers must still contribute. These thresholds are reviewed periodically by MPFA. Source: mpfa.org.hk.

Question 4

Can MPF be withdrawn before retirement in Hong Kong?

Accepted Answer

Mandatory MPF contributions (and TVC contributions) generally cannot be withdrawn before age 65. Exceptions include: early retirement at or after age 60 (with statutory declaration of permanent retirement), total incapacity, terminal illness, small balance withdrawal (below HK$5,000 after cessation of employment), permanent departure from Hong Kong, and death. Special Voluntary Contributions (SVC) have withdrawal terms set by the individual scheme and may allow earlier access.

Question 5

What is the best MPF fund for voluntary contributions?

Accepted Answer

The MPFA provides a fund performance comparison tool (mpfa.org.hk/mpf-fund-platform) showing all MPF funds' 10-year annualised returns and fees. As of 2025, equity-heavy funds (global equity, Asia equity) have historically outperformed mixed or capital preservation funds over 10+ year horizons, typically 5%–8% annualised, while capital preservation funds average 1%–3%. For younger members with 20+ years to retirement, higher-equity allocations are generally appropriate. Fee ratios (Fund Expense Ratio, FER) range from 0.4% to over 2.5% — lower FER funds significantly outperform over decades.

Question 6

What are the MPFA changes for MPF in 2026?

Accepted Answer

The MPFA continued efforts in 2026 to promote fee transparency and enhance the eMPF Platform (the centralised MPF account consolidation platform launched 2023). The eMPF Platform allows members to view all their MPF accounts across different trustees in one place and make fund switches and TVC contributions more easily. MPFA has also been reviewing the TVC tax deduction cap (currently HK$60,000), with potential increases under consultation. Members with multiple MPF accounts from previous employers are encouraged to consolidate via eMPF. Source: mpfa.org.hk/news.

Question 7

How does the MPF mandatory contribution cap work?

Accepted Answer

The MPF mandatory contribution is calculated at 5% of your monthly Relevant Income (salary, wages, fees, commissions, bonuses). It is capped at a maximum Relevant Income of HK$30,000/month — so the maximum mandatory contribution is HK$1,500/month per party (employee and employer each). For relevant income below HK$7,100/month (the Minimum Relevant Income Level for 2026), employees are exempt from contributions but employers must still pay the 5% employer portion. Income above HK$30,000/month has mandatory contributions capped — members wishing to save more must use TVC or SVC.

HK MPF 2026 Voluntary Savings Rate Calculator

Annual Contribution Breakdown

MPF Voluntary Contributions — TVC vs SVC Explained

Maximising the HK$60,000 TVC Tax Deduction

MPF and the eMPF Platform — 2026 Updates

MPF Retirement Projection — Long-Term Compounding Power