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MPF - Industry Scheme vs. Master Trust Scheme
MPF - Industry Scheme vs. Master Trust Scheme
Nicholas avatar
Written by Nicholas
Updated over a week ago

Comparison Table

Industry Scheme

Industry Schemes are set up and specially designed for the construction and catering industries, since these industries employ many casual and short-term employees. Workers paid weekly, half-monthly (1st and 2nd half of month), and even daily.

  • This income band contains the daily maximum relevant income level (i.e. $950) and the maximum amount of contribution (i.e. $50). If the daily relevant income of a casual employee exceeds $950, the amount of contribution payable by both the employee and his employer will remain at $50 each per day.

Note: There is a new calculation method enacted in November 2013. It is called the New Contribution Method and Unified Contribution Scale. The results may differ depending on which calculation method is used. This is the calculation process:
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  1. Average daily relevant income = Relevant income earned in a wage period / No. of working days in the wage period
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  2. Daily contribution amount = Check average daily relevant against new contribution scale for contribution amount
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  3. Total contribution amount = [Daily contribution amount] x No. of working days in the wage period]

Master Trust Scheme

The method for calculating contributions is entirely different from the Industry Scheme.

  • For casual employees with monthly wage periods

  • For casual employees with half-monthly, weekly, or daily wage periods

First determine the minimum and maximum relevant income levels by multiplying the number of calendar days in the contribution period concerned by the daily minimum and maximum relevant income levels of $279.99 and $950.

For example, if your contribution period is half-monthly, i.e. you pay wages twice a month, the minimum relevant income level for the second half of March will be $279.99 x 16 calendar days = $4,479.84 and the maximum relevant income level will be $950 x 16 calendar days = $15,200.

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