How do Hong Kong’s workers benefit from social security?

MPF is compulsory for all the employees in Hong Kong who have signed a contract for at least 60 days and for the self-employed persons whose age ranges between 18 and 65 years. 

There is no statutory age for retiring in Hong Kong. However, the government is working towards increasing the retirement age of the civil servant from the 55-60 range to 60-65 depending on the entry [...]

Social security can act as insurance for medical expenses and as a saving scheme to help retired persons and those who are old. 

Hong Kong’s MPF – Mandatory Provident Fund (強制性公積金) is a compulsory saving scheme that serves as pension fund for Hong Kong residents.