Enforcement

MPF Trustees

Common non-compliance

 

Common non-compliance committed by MPF trustees include:

 

  • late reporting of default contributions to MPFA
  • late processing of transfer or payment of MPF benefits
  • failure to submit related returns or reports to MPFA

Penalties

 

MPFA may take the following actions against MPF trustees for any non-compliance issues:

 

  • issuance of compliance advice letters
  • imposition of financial penalties
  • varying the approval conditions for the relevant MPF trustees
  • suspension or termination of MPF trustees’ administration of registered schemes
  • criminal prosecutions