In light of the HKSAR Government's implementation of the "Abolition of MPF Offsetting Arrangement” in May this year, employers will no longer be able to offset employees' Long Service Payment (LSP) or Severance Payment (SP) with mandatory MPF contributions. BridgeBuilder HRMS therefore held a workshop "HR Master Class: Transitioning to the New MPF Framework with BridgeBuilder HRMS" exclusively for our existing clients on March 14, 2025 (Fri). Due to the overwhelming response, we have now added a third session!
Aimed at helping our clients better understand the "Abolition of MPF Offsetting Arrangement”, the workshop is comprehensive enough to include an introduction to the regulations related to LSP and SP, while highlighting key considerations for HR through controversial labor dispute cases as examples, and explaining the calculation of LSP and SP under the new "Abolition of MPF Offsetting Arrangement."
During the workshop, our system consultant demonstrated how BridgeBuilder HRMS’s latest features and reports can assist HR in accurately calculating and even budgeting LSP and SP for employees with varying years of service. This helps clients prepare in advance to smoothly adapt to the new policy. Additionally, participants had the opportunity to experience our latest system features firsthand, gaining further insights into how BridgeBuilder HRMS proactively assists businesses in recording, calculating and budgeting for the "Abolition of MPF Offsetting Arrangement"!
We are delighted to see everyone actively asking questions and engaging with our system consultants, allowing us to gain deeper understanding into our clients' business needs and current challenges. Looking ahead, we will continue to organize more events on various topics and types in order to share latest industry knowledge and assist our clients in achieving digital transformation for optimal HR management operations.
If you would like to learn more about the features and reports of BridgeBuilder HRMS related to the "Abolition of MPF Offsetting Arrangement," please feel free to contact at (852) 3798 4400 or info@bbhrms.com.
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