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The benefit entitlements in an MPF scheme under the University MPF System will fall due to a member upon termination of employment at the University.
Please note that benefits accrued under Employer Voluntary Contribution will be 100% vested in University employee only after completion of 2 years’ continuous full-time employment. Special arrangements apply to the leaving service benefit, if any, in the event of dismissal for cause. For an employee with more than 2 years’ but less than 10 years’ full-time service, Salaries Tax is chargeable on the amount of accrued benefits represented by Employer’s Voluntary Contribution x (100% - months of service/120). |
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