Contribution requirements (including contribution rate and contribution due date) are determined by the employer. The employer is required to make contributions in respect of the scheme member on or before the contribution due date in accordance with the governing rules of the scheme.
Contributions can be made solely by the employer, or by both the employer and the scheme member based on the terms of the scheme and (where the scheme is a defined benefit scheme) the recommendation, if any, contained in the actuarial certificate.
If the contribution requirements of a relevant scheme have specified the date on which the relevant employer is to pay a contribution, the due date for that contribution shall be the date so specified.
If the contribution requirements of a relevant scheme have not specified the date on which the relevant employer is to pay a contribution, the due date for the contribution for each relevant period shall be -
If a relevant employer fails to pay the contribution before the contribution due date, the Registrar will issue a first payment notice.
Where the relevant employer has failed to heed the Registrar’s first payment notice and pay the arrears within the period specified, the Registrar may:
Any contribution surcharge collected shall be distributed among the affected members as if they were investment returns earned on the contribution.
If the relevant employer still fails to settle the outstanding contribution and surcharge, the Registrar may institute legal proceedings against the relevant employer for the recovery of the outstanding contribution and surcharge.
Last Revision Date: 06/10/2012