๐—˜๐—บ๐—ฝ๐—น๐—ผ๐˜†๐—บ๐—ฒ๐—ป๐˜ ๐—Ÿ๐—ฎ๐˜„ ๐—จ๐—ฝ๐—ฑ๐—ฎ๐˜๐—ฒ: ๐—›๐—ผ๐—ป๐—ด ๐—ž๐—ผ๐—ป๐—ด ๐˜€๐—ฒ๐˜ ๐˜๐—ผ ๐—ฎ๐—ฏ๐—ผ๐—น๐—ถ๐˜€๐—ต ๐˜€๐—ฒ๐˜ƒ๐—ฒ๐—ฟ๐—ฎ๐—ป๐—ฐ๐—ฒ ๐—ฎ๐—ป๐—ฑ ๐—น๐—ผ๐—ป๐—ด ๐˜€๐—ฒ๐—ฟ๐˜ƒ๐—ถ๐—ฐ๐—ฒ ๐—ฝ๐—ฎ๐˜†๐—บ๐—ฒ๐—ป๐˜ ๐—ผ๐—ณ๐—ณ๐˜€๐—ฒ๐˜๐˜๐—ถ๐—ป๐—ด ๐—ฎ๐—ฟ๐—ฟ๐—ฎ๐—ป๐—ด๐—ฒ๐—บ๐—ฒ๐—ป๐˜๐˜€

17/02/2022

The Hong Kong Government published the Employment and Retirement Schemes Legislation (Offsetting Arrangement)(Amendment) Bill 2022 and employers will soon no longer be able to offset severance payment (SP) and long service payment (LSP) by using the accrued benefits of the employersโ€™ mandatory contributions (ERMC) under the Mandatory Provident Fund (MPF) System. In this News Update, our Partner Charles To sets out how SP and LSP should be calculated going forward.