Should I just leave my MPF?

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  1. #1

    Should I just leave my MPF?

    My MPF is only about 50% vested because there were voluntary funds deposited by my employer. I've been in HK for 4 years so I won't get all of it. Do you know if it's possible to, even if I'm leaving HK for my home country, to leave it in there so it can vest fully? Do you know how long I will need to wait?
    Thank you!


  2. #2

    Join Date
    Apr 2016
    Posts
    239

    Giving your mpf company a call should easily clarify this


  3. #3

    You mean HSBC?


  4. #4

    Join Date
    Aug 2009
    Posts
    2,711

    Vesting is usually from the employer and not the mpf provider. He employer will want to unvested amounts back


  5. #5

    Join Date
    Oct 2006
    Location
    Hong Kong
    Posts
    15,557

    If you can get the money out, do so, it is just a big rip off.


  6. #6

    Join Date
    Dec 2013
    Location
    Hong Kong
    Posts
    12,323

    Why did your employer put in voluntary payments? Why do they think they can withdraw them? Typically, the employer can use the MPF for severance and long service leave payments, if that does not apply, it's not clear to me how they can get the money back out again. Does your employment contract say anything about this?


  7. #7

    Join Date
    Nov 2005
    Location
    Cramped island
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    5,585

    don't think that is the official mpf scheme. that's probably the employer mpf pension like scheme where vesting is stepped up on the employer portion of the contribution ... 10% yearly..

    quite common amongst the financial sectors and some of the bigger company.

    the vesting is entirely the company's decision. so if you have tendered your resignation after 5 years, you are just going to get 50% vested based on the 5y period. the rest will be paid back to the employer. you won't get higher vesting by leaving the money in the account for another 5 years.