Yes. It is deductibale. But, Max per year is $12000 from your salary. If you say contribute more than $12000 per year anything exceed this amount would not be deductible. Also, you need to fill up full amount of your salary in salary tax refturn. Say you earn $100,000 per year after deduct MPF 95000. You still need to fill up $100,000 in your salary tax return. There is one item called "MPF" you can fill up =5000 (100,000x 5%). Remember do not fill up $95000 in ur tax return. That's doesn't match ur tax return registered from your co vs. yours fill up in personal tax return.