Labour Department to hold briefing on abolition of MPF offsetting arrangement

     The Labour Department will hold a briefing on the abolition of Mandatory Provident Fund (MPF) offsetting arrangement on September 26 (Thursday) at 3.30pm at the Hall, North Point Community Hall, 123 Java Road, North Point. Employers, employees and human resources practitioners are welcome to attend.
      
     The abolition of MPF offsetting arrangement will be implemented on May 1, 2025, to improve the retirement protection of employees. The Government will at the same time launch the 25-year Subsidy Scheme for Abolition of MPF Offsetting Arrangement to share out the severance payment/long service payment expenses of employers after the abolition. The key features of the abolition of MPF offsetting arrangement, the calculation of severance payment/long service payment after the abolition and the main points of the Subsidy Scheme for Abolition of MPF Offsetting Arrangement will be introduced in the briefing.
      
     The briefing will be conducted in Cantonese and admission is free. Seats will be allocated on a first-come, first-served basis and the enrolment deadline is September 17 (Tuesday). The enrolment form can be downloaded from the thematic website of the abolition of MPF offsetting arrangement (www.op.labour.gov.hk/en/pdf/enrolment_form_Sep24_en.pdf). For enquiries, please call 2852 3921.