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CPF board recovers $420 million in arrears

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Some 250,000 workers will benefit after the CPF Board (CPFB) recovered $420 million in arrears from cases closed in 2013.

This amount is up from the $293 million recovered in 2012.

The amounts recovered were from underpayments, non-payments and late payments of CPF contributions by employers, with $16.6 million of the total amount coming from underpayment and non-payment by nearly 4,000 employers.

The increase in CPF arrears recovered was due to the step up in enforcement efforts by the CPFB, they said in a statement, as well as an increased awareness of workers’ rights, generated by the WorkRight Initiative.

There were 41 convictions for non-payment and underpayment of CPF in 2013, and 202 convictions for late payment.

The CPFB also increased the general penalties for non-compliance with the CPF Act with effect from January 2014. Now, first-time offenders may be fined up to $5,000 and/or imprisoned for up to six months.

Subsequent offenders may face fines of us to $10,000 and/or imprisonment of up to 12 months.

The CPFB sais employers should be reminded of their obligations to staff when it comes to CPF obligations, and workers should check thir CPF accounts regularly to ensure their employers are making the correct payments.

Image: Shutterstock

 

 



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