GRATUITY / RETIREMENT BENEFITS

 

Contract Gratuity

An appointee appointed on fixed-term gratuity-bearing contract is eligible to receive a gratuity on satisfactory completion of the period of appointment in accordance with the terms as set out in his Conditions of Service booklet and letter of appointment.

For professoriate and academic-related staff on Terms of Service I and non-academic staff on Bands G – J, the gratuity is equivalent to 15% of the salary which they earn during the contract period.

For other fixed-term appointees, the gratuity is equivalent to 10% of the salary which they earn during the contract period.

 

Staff Provident Fund

An appointee on probationary/substantive or tenure terms shall on assumption of duty elect in writing to become a member of the Staff Provident Fund. The University’s contribution to the Fund is 15% of the appointee’s monthly salary whereas the appointee is required to contribute 5% of his/her monthly salary into the Fund.

 

Mandatory Provident Fund (MPF)

An appointee on fixed term or temporary contract who is aged between 18 and 65 must enrol in the University’s Mandatory Provident Fund (MPF) Scheme, unless he/she is an exempt person and complete the appropriate Declaration Form for Exemption from Mandatory Provident Fund. The University will make mandatory contributions in accordance with the MPF Schemes Ordinance in respect of the appointee and in relation to the period of employment under the contract.

The University uses the HSBC Super Trust Mandatory Provident Fund Scheme (the HSBC MPF Scheme) for the purpose of MPF. This MPF Scheme is administered by HSBC Life (International) Limited. Details of employees who are eligible for exemption from the MPF and the HSBC MPF Scheme are distributed to appointees together with their offer of appointment letters.