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 at a sum which, when added to the University’s mandatory contributions made to the Mandatory Provident Fund (MPF) Scheme in respect of the appointee and in relation to the period of employment under his/her contract, equals 15% of the total basic salary earned during the contract period.

For other fixed-term appointees, the gratuity is at a sum which, when added to the University’s mandatory contributions made to the MPF Scheme in respect of the appointee and in relation to the period of employment under his/her contract, equals 10% of the total basic salary earned 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 aged between 18 and 65 who is employed for 60 days or more must enrol in the University’s Mandatory Provident Fund (MPF) Scheme unless he/she is an exempt person under the provisions of the MPF Schemes Ordinance. 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.

Examples of exempt persons who are not required to join an MPF Scheme include:

a)
Appointees from overseas who enter Hong Kong for employment for not more than 13 months;
b)
Appointees from overseas who enter Hong Kong for employment and are members of a provident, pension, retirement or superannuation scheme established outside Hong Kong;
c)
Members of occupational retirement schemes which are exempted from MPF requirements (i.e. MPF exempted ORSO schemes).

Appointees under (b) may apply for exemption from MPF by completing and returning the Declaration Form for Exemption from Mandatory Provident Fund to the Human Resources Office.

The University has adopted the HSBC Mandatory Provident Fund SuperTrust Plus Scheme for the purpose of MPF. Details of the Scheme can be found at the HSBC's website. Appointees can also visit the designated HSBC branches for more personal and comprehensive consultation.


TOP