The following are some statistics on the enforcement actions taken and handling of complaints involving MPF trustees by MPFA for the period from 1 April 2022 to 31 March 2023.

Complaints involving MPF trustees

  • Total number of complaint cases involving
    MPF trustees: 568

*Since a complaint may cover more than one subject matter, the total number of subject matters of complaints may exceed the total number of complaints.


Enforcement actions involving MPF trustees

The MPFA imposed financial penalties on MPF trustees relating to non-compliances with scheme administration duties under the MPF legislation.


  • Financial penalty notices issued: 28
  • MPF trustees penalized: 9
  • Total amount of financial penalties: $20,858,0701

1 All penalties had been settled by the trustees.


Nature of scheme administration duties
No. of financial penalty notices issued
Processing of MPF transfer / payment
Statutory reporting or payment to MPFA
Provision of information to scheme members
Allocation of MPF into MPF funds

Enforcement actions involving MPF intermediaries

Action taken
Impersonating a scheme member on two occasions to make enquiries with an MPF trustee about the member’s account; failing to obtain the member’s initials or authentication for the alterations made to a completed form; asking the member to sign on an incomplete form; and failing to provide copies of the signed forms to the member
Disciplinary action of suspending the registration of a Subsidiary Intermediary for 6 months
Disclosing a scheme member’s personal information to a third party and arranging the third party to impersonate the member to obtain the member's account information from an MPF trustee; asking the member to sign on incomplete forms; and failing to provide copies of the signed forms to the member
Disciplinary action of suspending the registration of a Subsidiary Intermediary for 7 months
Effecting two transfers of a scheme member’s MPF benefits without authorization; impersonating the member to obtain the member’s MPF account information from two MPF trustees; and failing to carry out the member’s instructions promptly
Disciplinary action of public reprimand and suspending the registration of a Subsidiary Intermediary for 20 months following the determination of the Mandatory Provident Fund Schemes Appeal Board
Failing to disclose or provide accurate information to 14 scheme members about the difference in management fees charged for a personal account (PA) and a contribution account (CA); misleading the 14 members to believe that it is a must to open PAs before transferring MPF from their existing CAs to another scheme; failing to disclose to two members whether the SI and/or his principal intermediary would receive benefit for the transfer of the two members’ MPF benefits; failing to avoid and disclose the conflict of interest (actual or potential) in conducting transfer of MPF for the two members; giving instructions to a trustee to change a member’s specimen signature without the member’s authorization; asking five members to sign on incomplete forms; failing to provide copies of the signed forms to 17 members; and delaying in handling two members’ instructions for scheme enrolment
Disciplinary action of suspending the registration of a Subsidiary Intermediary for 32 months
Failing to disclose necessary information to the scheme members; failing to carry out clients’ instructions promptly and accurately; offering incentives for encouraging the clients to transfer MPF benefits; failing to treat information supplied by the clients as confidential; and failing to comply with Principal Intermediary’s procedures of conduct, etc
Advisory letters to 17 Subsidiary Intermediaries and 5 Principal Intermediaries to remind compliance with the relevant conduct requirements

Enforcement actions involving employers and scheme members

Criminal actions:
  • 268 summonses were applied against non-compliant employers and directors/managers of limited companies
  • 16 summonses were applied against MPF scheme members 
Civil actions:
  • 1251 claims were filed to civil courts to pursue default contributions*
  • 80 Garnishee Orders were granted by court to seize money from defaulting employers’ bank accounts
  • 36 Bailiff actions were taken to seize assets of defaulting employers
  • 2 court orders were granted by court to compel convicted employers to rectify the non-compliance
  • 93 financial penalty notices were issued to repeat defaulters
Total amount of default contributions recovered:
  • $145 million of default contributions* were recovered for employees

*Default contributions include surcharge calculated at 5% of the amount of MPF contributions in arrears imposed on employers who failed to make MPF contributions for their employees within the prescribed period.