Posted by
The Expat
18 yrs ago
Dear all got a fast question... i was livin in hong kong a year ago and left. When i resigned i cleared everything and went had an oath so that i can get back my money i left for the MPF scheme. Now i got a job in hong kong and i might be moving next month... will be i able to join that scheme again? If no , are there any other schemes?
Thanks
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D-Man
18 yrs ago
MPF is only optional if you are a government worker otherwise it is madatory for all employees. Being an expat your company does not have to enrol you for your first 12 months of employment but it is mandatory enrolment there after.
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Can you withdraw your money once even if you have applied for residency?
Can you explain more about the oath
Thanks
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What if you have a temporary contract that lasts for 10 weeks only. They've asked me to fill out the MPF form. I don't want to. I don't know if I'll work further with this company. I also have an option of staying home with my kids so that means I don't have to return to paid work after. It seems very illogical for them to take out only 2 month's worth of contribution and there it will sit for over a decade?
Do I keep the same MPF even if I change employers?
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What happened to me when i decided to leave i filled an application that i am leaving the country and that i need to withdraw the money, i gave it to the human resources and they set an appointment for myself to go for the oath... i sat infront of a guy and signed the paper that i am leaving hong kong. You take a paper you give it to the human resources and process takes around a month max and they put the amount in your bank account. That is as far as i remember cause it was a year ago.. i hope that is helpful.
Thanks guys for the feedback... i guess no more refunding for myself!
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You'd better look up the oath you signed. You probably promised that this is the only time you will draw your MPF before retirement. Hopefully, you didn't promise to leave HK permanently!
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LOL ... that would be a disaster..!
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Thanks guys... but back to part of the question... are there any other schemes... i guess i rememember there was one but can't remember its name...
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there are many schemes, your employer is usually the one the choose the scheme. You can rejoin the same scheme again but you will not be able to withdraw any monies, regardless of where you live until you hit the legal rerirement age (65 currently).There are all types of schemes - depends on your industry, some are employee schemes, trust schemes, industry specific scheme. Some of the proviers include manulife, HSBC, AIA, BEA -etc - you can get a full ist on the website - www.mpfahk.org
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there are many schemes, your employer is usually the one the choose the scheme. You can rejoin the same scheme again but you will not be able to withdraw any monies, regardless of where you live until you hit the legal rerirement age (65 currently).There are all types of schemes - depends on your industry, some are employee schemes, trust schemes, industry specific scheme. Some of the proviers include manulife, HSBC, AIA, BEA -etc - you can get a full ist on the website - www.mpfahk.org
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I'm a personal financial planner. You can only withdraw your MPF using the leaving Hong Kong oath for once. You can still come back and reapply for MPF, but you will not be able to give oath for leaving Hong Kong as the reason to withdraw. You will have to meet the other 5 requirements to withdraw then. 1: You reached 65. 2: You reached 60 and swear you will not work anymore. 3: Your account has less than $5000 and have not worked for 1 year. 4: You are permanently incapable of working due to physical limitation. 5: You have arrived at the kingdom of God.
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Thank you so much guys for help... I need another favor please... I got this question regarding visa requirements... i already posted it in a thread ... but it seems this subject bores people... i will just repost my question here... and i appreciate if anyone could help me out ...
Here you go:
"I was working in hong kong before and i have a valid visa till 2008 but i guess i need a sponsor. I got a job offer and the company will do all the paper work... my questions are:
1. Does the processing time really takes 4-6 weeks or it can be less?
2. For the supporting documents, i do have the certificate of education, but do i need to enclose testimonials and certificates? What if it is not possible to ask my employer to provide me such a thing? I left work already back home and it will be very hard to get one. Will it be a problem for granting me the visa?"
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The visa process usually does take a few weeks, but I say enjoy it - before long you'll be in an office wishing you were out!! I think they can hurry it along if the employer presses for it but one colleague's visa only took 3 weeks processing - i think it is all connected with the documents provided.
As for the documents to accompany the visa I believe you need copies of all educational/ professional accomplishments – including all accreditations into relevant professional bodies. Usually these can be obtained from the relevant university or accrediting body. I think the immigration dept also needs evidence of your years of experience and hence testimonials. I thought it was standard practice for most companies to issue these sorts of employment testimonials on an employee’s departure. If you can I would call the HR department and ask for these letters. If it is too difficult, I would gather all evidence you can to show your relevant experience – this might include copies of employment contract letters, tax invoices etc. Maybe include a letter in the form of a stat dec that explains that you were never given testimonials and list the alternate evidence you are providing to evidence your experience.
As with all govt. departments its better to provide more rather than less (in most instances, except when incriminating yourself!!) so that the box is more likely to be ticked. Best of luck with the visa.
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Thanks Adelaide ... perfect advice... i got my job offers and contracts all signed.. i guess i am gonna write this letter that i have never been given testimonials and providing those contracts instead.
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