Grant/Subsidized Schools Provident Fund

Teachers joining the Grant/Subsidized Schools Provident Fund are bound by the Rules of the Funds which are Statutory rules made under the Education Ordinance. The following are extracts of some of the features for easy reference only.

  1. With effect from 1 September 1980, Government subsidies towards the employers' contribution in respect of the Grant/Subsidized Schools Provident Fund shall be made in accordance with the following scale:

    Length of continuous
    contributory service
    Employers' contribution

    (percentage of employees' salary)
    Less than ten years
    5%
    Not less than 10 years)
    but less than 15 years)
    10%
    Not less than 15 years
    15%

  2. Employees'' contribution shall remain at 5%.

  3. Every teacher who is not over the age of 55 years upon his first appointment to a school on or after 24 June 1982 is required to contribution to the fund.

  4. An annual dividend to each contributor of 5 per cent of his account is guaranteed and any shortfall in funds for the purpose of the guaranteed dividend is to be met by a loan (repayable without interest) made by the Government to the Funds. No supplementary dividend may be declared if there is an outstanding loan.

  5. Benefits to contributors are increased on the following sliding scale according to length of continuous contributory service on withdrawal from the Funds in normal circumstances:

    Benefits on Withdrawal

    Length of continuos
    contributory Service
    Contributor's own
    contribution plus dividend
    declared thereon
    Government's donation
    plus dividend declared
    thereon
    Less than 5 years
    100%
    NIL
    Not less than 5 years)
    but less than 6 years )
    100%
    50%
    Not less than 6 years)
    but Less than 7 years)
    100%
    60%
    Not less than 7 years)
    but less than 8 years)
    100%
    70%
    Not less than 8 years)
    but less than 9 years)
    100%
    80%
    Not less than 9 years)
    but less than 10 years)
    100%
    90%
    Not less than 10 years
    100%
    100%

    Application to withdraw one's Provident Fund

    Teachers who retire or intends to quit teaching may apply to withdraw their Provident Fund. Application form can be obtained from Education Department Provident Fund Unit or in the District Offices. Since this application form will be kept for audit purpose, Education Department does not accept photo copies of the application forms.

    Application to stop contribution

    If applicants temporarily stop teaching with sufficient grounds, they may apply to Education Department to stop contributing to the Provident Fund for a year.(Max. 1 year)

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