Posted by
HK Expert
16 yrs ago
The declaration one has to sign says that the person who signs it will PERMANENTLY leave Hong Kong.
What is the definition of permanent departure from Hong Kong? Any provisions on the period of departure?
Does the withdrwal of accrued benefits on the grounds of PERMANENT departure from Hong Kong mean that a person who withdraws their benefits could return a few days later.
I am worried about signing such a declaration in case it means it will cause my permanent residency status to be revoked or removed. I don't work in Hong Kong,as I was made redundant and I will leave Hong Kong to satisfy the requirement, but may return a short while later.
I checked the MPF website, but it doesn't really help that much, suffice to say, that one could return to HK and that withdrawal of accrued benefits on the grounds of permanent departure will not prevent a person returning to HK to work again.
I just wonder if any one has gone through the procedure and could provide any information that may be useful.
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I had my permanent residency approved a couple of weeks before I left "permanently", withdrew all my MPF funds and have been back for a couple of visits since with no problem using my ID card to go in and out. Certainly no one has ever suggested I will lose PR status. I am about to return to commence full time work again, and I believe if I depart "permanently" again I will not be permitted to withdraw from the MPF.
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Thanks for your comments Mark Six
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CF
16 yrs ago
I believe the reason that is mentioned is because if you come back to HK and contribute to MPF again, then you CANNOT withdrawal the funds until you reach retirement age. I think this is to prevent the withdrawal of the funds on a continual basis - ie someone coming for a few years, then leaving then returning and doing the same. I suspect this is why they ask if the move is permanent.
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Thanks CF for your comment. I am just wondering if anyone has submitted a claim for their accrued benefits and then left Hong Kong and then returned a week later. In theory this is not a PERMANENT departure as implied by the declaration.
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Thanks beancurd for your comments too.
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Hi,
I understand you can only withdraw your MPF funds once upon permanently leaving HK. Which will, of course, cause a problem if you ever return then want to leave agian. So I want to know; is it possible to simply leave your MPF scheme in place when you leave country, giving you the option to withdraw them at a later stage in you life (retirement, even) when you are sure you will not be back. This would mean you could come a go multiple times from HK, using the same MPF account each time.
I don't see anything in the documentation that say you have to be IN HK to make the withdrawl - in fact, you are meant to show a permanent residence in another country as proof. But I'd hate for my savings to become govt property after some hidden "account inactivity" clause.
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GHL
14 yrs ago
FYI everyone...According to the HK MPFA, "Making false statements about permanent departure from Hong Kong in order to withdraw MPF benefits is a CRIMINAL offence. A scheme member who makes a false or misleading statement is liable to a fine of HK$100,000 and imprisonment for 12 months on the first conviction. On a subsequent conviction, the offender is subject to a fine of HK$200,000 and imprisonment for 24 months. The MPFA deals with these cases seriously and works closely with the police to combat these illegal activities. The MPFA refers suspicious cases to the police for further investigation and prosecution.
Persons who instigate and help scheme members to make false or misleading statements also commit a criminal offence.
So, unless you are really leaving Hong Kong permanently, do not withdraw your MPF!
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"So, unless you are really leaving Hong Kong permanently, do not withdraw your MPF!"
Or, more accurately, do not withdraw it unless, upon your return to HK, you are happy to leave you money in the MPF until retirement age, because you will not legally be allow to take it out again.
I asked about my question above and had this reply:
=============================
In case you do not wish to claim for the payment of MPF benefits when leaving HK, you may make one of the following arrangements in respect of the contributions made by the former employer when you change job or cease to be employed:
(a) open another account in the same scheme (i.e. retained the accrued benefits in the current scheme under a preserved account); or
(b) open an account in another MPF scheme you nominated and transfer your accrued benefits to that account; or
(c) (if you are subsequently employed by a new employer who has enrolled you into an MPF scheme,) transfer to the contribution account of the scheme in which your new employer is participating in relation to you.
If you fail to make an election within 3 months after the scheme trustee has been informed by the employer of your employment cessation, your accrued benefits will be transferred to a separate preserved account in the same scheme.
=================
I'm still a little confused, but at least it looks like there are options to leave your MPF sitting in HK, even once you move overseas.
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MyCsPiTTa,
Yes, you can leave your money in an MPF in HK even when you're overseas and not paying into it. There is no "account inactivity" clause. The only way you can lose it is if, when you turn 65, they can't find you and try reasonable means to locate you to pay you the money.
Hope that helps.
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