The Latest Global News from Asia-PacificSuperannuation funds could experience cost savings from new regulations that allow them to issue annual reports on their Web sites rather than by printing and mailing. The changes apply to reports for the 2007/2008 calendar years and later, as long as certain conditions are met. [July 31, 2008] The Legislative Council has made a few key changes to tighten administration of the Mandatory Provident Fund (MPF) scheme, including closing a loophole related to housing allowances that had existed since the MPF’s inception in 2000. The changes, which will take effect on November 1, 2008, include significant penalties for employers who do not follow the new rules. [June 26, 2008]
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