MPF Contributions

What is the price of a two-bedroom flat in Hong Kong?

A 2-bedroom flat in Hong Kong would typically cost more than $3,700 per month to rent, for anyone considering relocating there.

If I get remarried, would I lose my widow's pension?

There is no impact on survivor benefits if you remarry after turning 60 (or 50 if you're handicapped). However, if you get married before that age, you are no longer eligible for survivor benefits from the previous marriage. They will stop if you were already receiving them.

A self-employed person's retirement savings strategy

Self-employed individuals can create their own retirement plans on their own. One-participant 401(k), SEP IRA, SIMPLE IRA, and Keogh plan are the four options accessible for self-employed people. HSAs (health savings accounts) and standard and Roth IRAs are two other alternatives.

Can I quit right away?

Resign right away if there is cause or justification to do so. without change. Now, if it's without justification, abide by the rule. Follow the 30-day rule or, if your contract specifies a different time frame, the terms of your deal.

I'm 55; can I retire?

So it's perfectly legal and possible to retire in your mid-50s if that's your goal. But it's important to keep in mind that retiring at 55 isn't the norm for most people. If you're going by the normal retirement age prescribed by Social Security, for example, that usually means waiting until you're 66 or 67.

If I relocate abroad, what will happen to my private pension?

If I live overseas, can I still receive my pension? You can receive personal or workplace pensions no matter where you reside.

I'm 57; can I retire?

Is 57 a suitable retirement age? The response is both "Yes" and "no." Because you can apply for retirement at any age and because each person's resignation will be unique, the answer is yes. However, this will disqualify you from receiving social security payments until you are 62, so it's also a No.

A pension plan or MPF?

The Mandatory Provident Fund (Chinese: ), frequently abbreviated as MPF (), is a required savings program (pension fund) for Hong Kong residents' retirement.

How is SSS determined?

The Best Way to Determine Your SSS Contribution
The company contributes 13% of the monthly salary credit up to P25,000 toward SSS, and the employee contributes 4.50% of that (13.3%).
For illustration, someone making Php10,000 will contribute Php1,310.00.
Only Php450 is left over from this sum.

Can I hold down two full-time jobs simultaneously in the Philippines?

No Philippine law prohibits you from working more than one job, whether they are in the same field or not.

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