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Background Information of Provident Fund

 

Grant/Subsidized Schools Provident Fund

The Grant/Subsidized Schools Provident Fund is a provident fund scheme established in accordance with the Grant/Subsidized Schools Provident Fund Rules.

 

Object

The object of the Fund is to provide for payments to be made upon resignation, retirement, dismissal or termination of contract to teachers employed in grant/subsidized schools or to their estates in case of death.

 

Contributors

Every teacher (except temporary teachers and teachers who are 55 or over on first appointment to a grant/subsidized school) who is employed in a grant/subsidized school and is approved for the purposes of the Codes of Aid is required to contribute to the Grant/Subsidized Schools Provident Funds. Unqualified teachers, part-time teachers and teachers who are members of a religious order so employed may opt to contribute to the Fund.

 

Contributions

The monthly contribution to the Fund is at the rate of 5% of the contributor's salary, including any allowances approved for that purpose by the Permanent Secretary for Education.

 

Government's Donation

The government's donation shall be an amount equal to the following percentage of the contributor's basic salary, including any allowance approved for that purpose by the Permanent Secretary for Education --

 
 
5%, if his continuous contributory service is less than 10 years;
 
10%, if his continuous contributory service is not less than 10 years but less than 15 years;
 
15%, if his continuous contributory service is not less than 15 years.

 

Withdrawal

A Subsidized Schools Provident Fund contributor should complete Subsidized Schools Provident Fund withdrawal application form EDB 13, whereas a Grant Schools Provident Fund contributor should complete Grant Schools Provident Fund withdrawal application form EDB 12 . These forms are available for download under "Public Forms" of EDB homepage. Upon certification of all details therein by school's Headmaster/Principal/Supervisor, the application should then be forwarded to the Funds Section of Education Bureau through the school heads for payment processing. The address of the Funds Section is Room 1517, Wu Chung House, 213 Queen's Rd. East, Wanchai, Hong Kong.

 

For further enquiries, please call 2892 6222.

 

Last review date: 05 May 2016
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