MPF’s Ten Years: Seven Deadly Flaws

What went wrong?

The FTU Rights Committee lists MPF’s “seven deadly sins” after ten years: the offsetting mechanism eating into severance and long-service payments, weak enforcement on default contributions, no recourse when employers wind up, trustees failing to report defaults, and hard-to-manage accounts — with 16 reform proposals.

How bad is offsetting?

The longer you work, the more contributions get offset — the offset amount grows over 10% yearly. Default-contribution complaints exceed 80% of all complaints. Know your rights via MPF fund comparison.