Hong Kong Regulations

MANDATORY PROVIDENT FUND SCHEMES (GENERAL) REGULATION - SECT 33

Requirements with respect to voluntary contributions

(Past version on 01/12/2000).

(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. Where any of
those voluntary contributions are required to be made by the scheme member's
employer, then the governing rules of the scheme must, not later than 6 months
after the commencement of this subsection, provide for the payment of any
accrued benefits derived from voluntary contributions if the employer has
failed to make such a required voluntary contribution to the scheme within 6
months after-

   (a)  if the amount of the voluntary contributions required to be made by
        the employer is determined by reference to the income derived from the
        employee's employment with the employer, the end of the period covered
        by the payment of such income;

   (b)  if the amount of the relevant contributions required to be made by the
        employer is determined by reference to a period of employment of the
        employee with the employer, the end of such period. (2 of 2002 s. 21)