Hong Kong Regulations

MANDATORY PROVIDENT FUND SCHEMES (GENERAL) REGULATION - SECT 33

Requirements with respect to voluntary contributions

Caution: This is a past version. See the current version here.

(1) Accrued benefits derived from the voluntary contributions must not be paid
by the approved trustee of a registered scheme otherwise than by reference to
those contributions and the income or profits derived from their investment.

(2) The governing rules of the scheme must provide-

   (a)  that participating employers are obliged, on request by any of their
        employees who are members of the scheme, to pay to the trustee of
        the scheme any voluntary contribution made by those employees; and

   (b)  if a participating employer elects to make voluntary contributions in
        respect of any employees who are members of the scheme, that those
        contributions will become vested in those employees as accrued
        benefits in accordance with the governing rules of the scheme; and

   (c)  if an employee or a self-employed person who is a member of a
        registered scheme elects to make voluntary contributions, that those
        contributions will become vested in full as accrued benefits in that
        employee or self-employed person when the contributions are received
        by the approved trustee of the scheme.

(3) If a member of the scheme so requests, accrued benefits derived from
voluntary contributions made by or in respect of the member must be paid to
the member as provided by the governing rules of the scheme. Those rules must
provide for the payment of any such accrued benefits if a scheme member's
employer has failed to make a voluntary contribution to the scheme within 6
months after the date on which those rules requires it to be made.