1. Pension Plans in Hong Kong and Other countries

2. ORSO MPF Voluntary basis Force nature. The employer must establish
Participation
Voluntary basis
Force nature. The employer must establish
The qualification of participation employees
Completes the probation period
Completes on 60th to employ the time.
Contribution properties
Defined Contribution, Defined Benefit
Defined Benefit

3. ORSO
MPF
Employer Contribution
5-15% 5%
Employee Contribution
0-5% 5%
Employee/The employer related income and contribute lower limit
N/A
lower limit is $4,000. Or the monthly salary <$4,000, may choose contribute or not, but the employer must contribute 5%

4. ORSO MPF Both of them related income and contribute upper limit N/A
upper limit is $20,000, if > $20,000, both of them must supply the upper limit 5%, i.e $1,000
must through MPF Scheme Authority approvals
Trustees
not to have agree
Shifts to an earlier time receives contribute the arrangement
Does not have transforms when the employer may withdraw
After stops being employed reaches 60 years old, then may receive

5. ORSO MPF Rights of return, contributing which - may bring back
The ownership ratio decides according to the period of service: By is different 3 to 10 years.
At 65 years old, may draw out the complete employer and the employee contribute, as well as investment growth repayment
After receives the ORSO the tax affairs arrangement
If to leaves job time and when retirement receives, then may be exempted from tax
To 65 years old when receives, also does not need to pay taxes

6. ORSO
MPF
Tiredly calculates the rights and interests in leaving job time the arrangement
When the employee leaves the present employer, must according to return is the ratio to receive contribute
It has 3 choices:
Keep the MPF & open a new personal a/c
You can accumulate the MPF & take it to new company
Can join other MPF scheme.
Preserve
Agreement
No, usually when leaving job withdraws
The rights and interests must preserve to 65 years old

7. The maximum no-tax value is every year $12,000
ORSO
MPF
The employee contribute tax affairs preferential benefit No
The maximum no-tax value is every year $12,000
The employer contribute tax affairs preferential benefit
May deduct in the partial profit taxes, but the tax amount not to be possible to surpass the employee the new salary 15% to be limited to every year
May deduct the profit taxes, the profit tax quota cannot surpass the employee the new salary 15% to be limited to every year
Hong Kong legal regulation supervising and managing
Hong Kong or overseas legal regulation supervising and managing
Monitoring

8. Comparison of Hong Kong, Singapore, Canada, US and Germany with their retirement plans

9. Contribution Withdraw Hong Kong MPF Singapore CPF Canada CPP US 401(k)
Type
Basic
Contribution
Withdraw
Hong Kong
MPF
Singapore
CPF
Canada
CPP US
401(k)
Germany
PAYG DC DC DC DC DB
Compulsory
Compulsory
Compulsory
Voluntary
Compulsory
Employer:
-Above or equal to 5%of employee’s relevant income
Employer:
-Below 50: 13%
-age of : 9%
-age of 56-60: 6%
-Above 61: 3.5%
Employer:
age of : 4.95%
Employer:
-Voluntary
Employer:
-9.75%
Employee:
-Salary below
$4 000: voluntary
-Salary above
$4 000: 5%
Employee:
-Below 50: 20%
-age of 51-55: 18%
-age of 56-60: 12.5%
-age of 61-65: 7.5%
-Above 65: 5%
Employee:
age of : 4.95%
Employee:
-Voluntary
Employee:
-9.75%
Age 65
25 percent of the earnings on which you paid into the CPP
Can withdraw as reaches age 59.5, dies, becomes disabled, or incurs hardship.
Age 60-64:
accepting a 0.3 per cent reduction in pension entitlements for each month
Age 65
Employee who participates in this plan can get 100% of funds.
When you turn 55...
You can withdraw the CPF Minimum Sum in your Retirement Account.
The remaining CPF will earns interest and guarantees a minimum interest rate of 2.5% per annum
From age 60-65
Reduced by 0.5 percent for each month that you are under 65.
Before age 65
Take an oath to stop working after age 60, or become disabled, dies, permanent live outsides Hong Kong.
Age 65:
pension benefits to 65% of average wages per month.
From age 65-70
Increased by 0.5 percent for each month that you are over 65, up to the age of 70.

10. Conclusion

11. Member list
Sarah Comparison of ORSO & MPF
Stephen Comparison of ORSO & MPF
Yen Singapore CPF
Suki Canada CPP
Peggy US401(k)
Jason Germany PAYG