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Finally leaving Hong Kong - MPF and Tax how long realistically?

  1. #1

    Join Date
    Mar 2019
    Posts
    14

    Finally leaving Hong Kong - MPF and Tax how long realistically?

    After more then a decade living in HK, i am going back to my home country, honestly i am pretty excited to go back. But that beside.

    I wanted to know from experience how long did it take for you to receive your MPF payout and tax refunds?
    I have done my research and they say its 30 Days for MPF and approximitely the same for any tax returns.

    However realistically how long did it on average took it for you to receive it?
    The reason i ask is as i have a 1.5 month window between my last working day and the day i fly back to my own country. I want to make sure i have enough buffer and perhaps should retire at this job a bit earlier or not for more time window.

    Thanks in advance for your reply.


  2. #2

    Join Date
    Dec 2002
    Location
    薄扶林
    Posts
    24,512

    6 weeks should be enough, as long as you have all the paperwork lined up before your last day. The IRD process can be started as soon as you resign.

    As long as HR cooperates with you, you'll be fine.

    IRD Process - https://www.ird.gov.hk/eng/pdf/pam46e.pdf?noembed
    MPF Process - Early Withdrawal of Benefits

    huja, MandM!, ankur_hk and 1 others like this.
    Have a GeoExpat related problem - please create a support ticket.

  3. #3

    Join Date
    Mar 2019
    Posts
    14

    Thanks Shri, yeah i plan to keep everything fully prepared, and submit it on the last working day potentially in person at their main offices to ensure a fast and smooth transaction.

    Thanks for the links, i will give call once more with the tax bureau to see if i need to provide any documentation or forms from my employer.


  4. #4

    Join Date
    Oct 2005
    Posts
    14,178

    Mine took 3 months with AIA.
    So it will depend on your provider


  5. #5

    Join Date
    Mar 2019
    Posts
    14

    Wow 3 months crazy! i am with hang seng, at least i am moving everything to my Hang sang MPF.
    I will call hang seng bank today to enquire how long it takes them.

    I also just contacted my employer to fill out the IR56G form for me as soon as possible, i understood they withhold my salary for 1 month till any due outstanding tax payments are forefilled.

    So they basically hold my last salary hostage for 1 month till all tax administration/payments are completed... Not so cool actually, having to live off 1 month salary for a period of 2 months.

    Because both tax and MPF administration works will take 30 days or so, just in case someone leaving HK as well, plan at least 1 month uneployment in HK otherwise you will have to back track your tax and MPF money after you already left the country. So plan your leave from HK very carefully.

    -Edit: Hang seng bank takes around 30 days to fully transact the MPF payout if all documents are presented correctly.

    I just asked my boss for a 2 week earlier resignation, giving me around 2 month buffer, as i am a bit afraid not being able to take around 300,000 HKD worth of MPF with be back and have to do all kinds of expensive bank transfers after i already left to get the money back and lose lots in the process. (hand carry 9999 USD~ Per person on plane instead)

    Last edited by coffeeman; 26-03-2019 at 02:37 PM.

  6. #6

    Join Date
    Mar 2019
    Posts
    14

    WOW getting MPF accounts transfered is attrocious in hong kong..

    I have litterly already spend 3/4 months getting 7 MPF accounts merged into one...
    Every single request is being rejected, signature wrong, address wrong, number wrong... holygarbage what is this entire MPF system bad!

    Elegiaque likes this.

  7. #7

    Join Date
    Feb 2005
    Location
    NT
    Posts
    3,609

    Wow you have 7 MPF accounts, holy shit lol


  8. #8

    Join Date
    Feb 2011
    Location
    Hong Kong
    Posts
    5,298
    Quote Originally Posted by coffeeman
    Wow 3 months crazy! i am with hang seng, at least i am moving everything to my Hang sang MPF.
    I will call hang seng bank today to enquire how long it takes them.

    I also just contacted my employer to fill out the IR56G form for me as soon as possible, i understood they withhold my salary for 1 month till any due outstanding tax payments are forefilled.

    So they basically hold my last salary hostage for 1 month till all tax administration/payments are completed... Not so cool actually, having to live off 1 month salary for a period of 2 months.

    Because both tax and MPF administration works will take 30 days or so, just in case someone leaving HK as well, plan at least 1 month uneployment in HK otherwise you will have to back track your tax and MPF money after you already left the country. So plan your leave from HK very carefully.

    -Edit: Hang seng bank takes around 30 days to fully transact the MPF payout if all documents are presented correctly.

    I just asked my boss for a 2 week earlier resignation, giving me around 2 month buffer, as i am a bit afraid not being able to take around 300,000 HKD worth of MPF with be back and have to do all kinds of expensive bank transfers after i already left to get the money back and lose lots in the process. (hand carry 9999 USD~ Per person on plane instead)
    HK$65 you can wire USD anywhere in the world using HSBC Hong Kong online. Your receiving bank may or may not have a charge. I believe the transfer limit is HK$3m per day.

    A lot better to spend US$10-30 rather than risk getting robbed of much more.

  9. #9

    Join Date
    Mar 2019
    Posts
    14

    ^ You are right. I had some bad luck with 2 of my MPF accounts, constantly issues when i submitted the merge form.
    Sun Life and Manulife are pretty horrible compared to every other i have merged.

    Signatures wrong, account wrong, this wrong that wrong... i mailed approximitely 4 letters each, every time rejected.
    So instead i just keep them seperated at this point (2.5 months left before my departure) and individually request my MPF payout instead.

    I think this whole MPF system is pretty bad actually for anyone coming from abroad hong kong, but even for local chinese if they ever decide to emigrate and take their MPF they might be in for a unpleasant suprise.


  10. #10

    Join Date
    Sep 2017
    Posts
    180
    Quote Originally Posted by coffeeman

    I think this whole MPF system is pretty bad actually for anyone coming from abroad hong kong, but even for local chinese if they ever decide to emigrate and take their MPF they might be in for a unpleasant suprise.
    Exactly.
    I'm anticipating that "unpleasant surprise" more than I'd look forward to receiving my MPF from AIA.

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