On 17 July 2013, the Legislative Council passed an amendment to increase the minimum and maximum relevant income levels under the Mandatory Provident Fund System.
The monthly minimum relevant income level has been increased from HK$6,500 to HK$7,100 and this new level applies from 1 November 2013.
The monthly maximum relevant income level has been increased from HK$25,000 to HK$30,000. This means for employees with a relevant income of HK$30,000 or more per month, their contributions (and the contributions from the employer) will increase from HK$1,250 per month to HK$1,500 per month. This new level will apply from 1 June 2014.