Hong Kong Employee Benefits Report | Axco Information

Key Highlights

Get access to Axco’s online product for a comprehensive understanding of employee benefits in Hong Kong

Details of the state and compulsory benefits
Insight into typical market practice
Examines changes to the costs and benefits of social security and mandatory benefits requirements
Demographic and economic information including projections
Mandatory pension provision, normal and parental leave and other state benefits
Details of applicable taxation
Extensive geopolitical and operational risk analysis

Report Overview

Comprehensive employee benefits information for Hong Kong. Details mandatory benefits and plans as well as typical market practice. Includes data on pensions and retirement benefits, employee leave and termination indemnities.

Axco's employee benefits report for Hong Kong provides expert analysis of the Hong Kong benefits landscape, detailing state and compulsory benefits and local market practice across necessary to know when employing staff in Hong Kong or thinking of entering the market.

The comprehensive report is produced by a dedicated research team with years of experience in international employee benefits. The report outlines all key benefits in Hong Kong, including insight into changes to the costs and benefits of social security and mandatory benefits requirements, as well as typical employer practice. Information and necessary details on new legislative mandates are regularly updated to ensure you remain compliant.

Suitable for international employee benefits consultants, brokers or corporates looking at establishing business in Hong Kong, the report outlines the employment benefits requirements for your employees in Hong Kong. Coverage extends to retirement benefits, death in service benefits, long-term disability, medical benefits, workers compensation, personal accident insurance, termination indemnities, maternity benefits & maternity/paternity benefits and other employee and state benefits.

Axco analysts also report on the economy of Hong Kong, the local political situation, and climate, operational, and security risks.

Hong Kong Report Extract

Below is a very brief extract of information from the Hong Kong Employee Benefits Report; more updated information may be available in the latest published report.

Retirement

Benefit Provider

State & Compulsory Benefits

Retirement benefits are provided through a Mandatory Provident Fund (MPF) scheme as chosen by the employer (the employer may allow the employee to choose from a selection of MPF schemes). Employers are required to provide termination indemnities when …

Typical Employer Practice

Around 80% of multinational and local leading employers provide supplementary retirement benefits; provided through …

The report contains more information on retirement benefits in Hong Kong including Benefit Provider; Type of Plan; Eligibility; Retirement Age; Pensionable Salary; Vesting and more

Termination Indemnities

Benefit provider

State & Compulsory Benefits

Termination indemnities are provided by the employer through the long service payment and severance payment. The long service payment or severance payment may be offset by Mandatory Provident Fund scheme or Occupational Retirement Schemes Ordinance scheme benefits accrued from employer contributions, as much as the employer contributions relate to the employee's qualifying service for the long service payment or severance payment. The government has proposed the mechanism of offsetting …

Typical Employer Practice

Employers do not typically provide supplementary termination indemnities.

More information on Eligibility; When Benefit is Paid; Benefit details and the associated Taxation applicable to termination indemnities is available in the report.

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