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withdrawing MPDF after resigning

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  1. #1

    Join Date
    Oct 2019
    Posts
    21

    withdrawing MPDF after resigning

    I resigned in Hong Kong recently and now am seeking to withdraw the MPF collectible sum. I will not be leaving Hong Kong permanently however I will not be finding any kind of employment in Hong Kong. It says I can only withdraw before 65 if i leave permanently from this country, however I was wondering even if I reside and not find work I can still take out the mpf savings?

    Are there any loopholes to how i can withdraw it?


  2. #2

    Join Date
    Nov 2007
    Location
    Wanchai
    Posts
    4,009

    I think if it's under a certain amount you might be able to due to the triviality rules.


  3. #3

    Join Date
    Oct 2019
    Posts
    21

    the amount I checked mounts to only 35,000 hkd


  4. #4

    Join Date
    Jul 2004
    Posts
    3,191

    Rules are pretty clear, you do not qualify for small balance withdrawal, i am sure you must have seen that..

    If you are asking for loophole, there is none unless you lie about leaving and stay here/come back after withdrawing your MPF but mind you if tomorrow circumstances change forcing you to take up employment again, you won't be able to withdraw it again until 65..


    Early Withdrawal of Benefits


  5. #5

    Join Date
    Oct 2019
    Posts
    21

    Wait so are you saying even if I permanently leave hong kong next month, i cant withdraw if it is a small amount??


  6. #6

    Join Date
    Dec 2002
    Location
    ???
    Posts
    28,702

    If you're genuinely leaving HK - You can with draw any amount. If for whatever reason you come back and again genuinely leave, you cannot withdraw just because you're leaving, you have to leave that amount in your MPF account.


  7. #7

    Join Date
    Oct 2019
    Posts
    21
    Quote Originally Posted by shri
    If you're genuinely leaving HK - You can with draw any amount. If for whatever reason you come back and again genuinely leave, you cannot withdraw just because you're leaving, you have to leave that amount in your MPF account.
    So can I withdraw now even though I do not permanently leave so long as I do not work in Hong Kong like permanently ?

  8. #8

    Join Date
    Feb 2015
    Location
    Hong-Kong
    Posts
    5,629

    The test isn't whether you work or not, but whether you reside or not.
    Your plan is to reside in HK, and this doesn't allow you to withdraw your 35k. It doesn't matter if you work or not.


  9. #9

    Join Date
    Dec 2002
    Location
    ???
    Posts
    28,702
    I do not permanently leave
    What I mentioned - if you permanently leave. People have been charged / fined etc for f'ing around with the MPF. And I suspect you're not the first or the smartest that they've encountered.
    chuckster007 and Fiona in HKG like this.

  10. #10

    Join Date
    Jul 2004
    Posts
    3,191
    Quote Originally Posted by ParkerSan
    Wait so are you saying even if I permanently leave hong kong next month, i cant withdraw if it is a small amount??
    You did not read the guideline in the link properly.. This is the definition of Small balance, which obviously you do not qualify for...

    (5) Small balance. You must have a balance of not more than $5,000 in an MPF scheme and do not have MPF benefits in any other MPF scheme. As at the date of your application, at least 12 months must have elapsed since your last contribution date. You must declare that you have no intention of becoming employed or self-employed.

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