Glossary

Note: The information contained herein is for reference only and the provisions in the relevant legislations shall prevail.

Final average monthly relevant income means the member's relevant income per month averaged over:

• If the member has been a member of the scheme for not less than 12 months after 1 December 2000, the period of 12 months immediately preceding; or
• In any other case, the period from the date the member joined the scheme or 1 December 2000 (whichever is later),

To the date of the termination of his/her employment or the date on which he/she ceases to be a member or the date of the coming into effect of the withdrawal of the exemption certificate. The above period excludes any unpaid leave or maternity leave taken by the member pursuant to any enactment or contract.

Relevant income will be capped by the maximum level of HK$30,000 per month first before calculating the average.

Please also refer to "relevant income".

Relevant Income

• In the case of a relevant employee, any wages, salary, leave pay, fee, commission, bonus, gratuity, perquisite or allowance, expressed in monetary terms, paid or payable by an employer (directly or indirectly) to that relevant employee in consideration of his employment under that contract, but does not include severance payments or long service payments under the Employment Ordinance (Cap. 57);
• In the case of self-employed person, the calculation of relevant income is basically linked to his/her assessable profits that are calculated in accordance with the Inland Revenue Ordinance.

Years of post-MPF service in relation to a member of a relevant scheme, means the member's continuous years of service (including complete months of a year) from the date he/she joined the scheme or 1 December 2000, whichever is later, to the date of termination of his/her employment or the date on which he/she ceases to be a member or the date of the coming into effect of the withdrawal of exemption certificate.