Withdraw mpf when not a PR anymore.

[djtron99]

Hi, Im a HK PR and an expat. If I resigned from work and return to my home country and within 3 years, I didnt come back to HK, I will lost my PR.

Do I need to withdraw my MPF or I can still retain my MPF until such time I declare I dont intend to settle to HK or when I reach 60 y.o. Thanks.

[chuckster007]

You can leave your MPF, you dont have to take it out but most people will tell you to take it and invest it somewhere else as MPF has monthly charges which is a rip off.

[djtron99]

Thanks, yes, I've read that lowest admin fee are hsi tracker which is 0.75% and vanguard's ETF or even index funds are cheaper.

My purpose of leaving my mpf is for diversification in terms of the physical location of the fund (HK vs my home country) and I can diversify in foreign markets using foreign brokers. In addition, MPF is in a different currency (HKD).

[shri]

@djtron99 - you don't "lose" PR if you don't show up for 3 years. You simply go from Right of Abode status (i.e. cannot be deported + can vote) to Right to Land status (can be deported and cannot vote)...

You can still come back and work any time - but yes, you can withdraw from MPF and invest in whatever you want to - because technically you're allowed to terminate your MPF account and withdraw ONCE - due to leaving HK "permanently".

[djtron99]

@djtron99 - you don't "lose" PR if you don't show up for 3 years. You simply go from Right of Abode status (i.e. cannot be deported + can vote) to Right to Land status (can be deported and cannot vote)...

You can still come back and work any time - but yes, you can withdraw from MPF and invest in whatever you want to - because technically you're allowed to terminate your MPF account and withdraw ONCE - due to leaving HK "permanently".

Thanks @shri : so, the ffg. assumptions are correct?

1. I can leave my MPF even if I didn't come back after 3 years and can withdraw once due to leaving HK permanently.
2. I can get my MPF if I resigned from job and declare I will be leaving permanently.
3. I can get my Right to Abode status again after not coming back after 3 years if I stayed in HK for another 7 years.
4. I'm still PR even if I didnt show up for 3 years?
5. What do you mean by cannot be deported? Can be deported? Do you mean I need work visa if I only have Right to Land status if I didn't come back after 3 years?

[Pauljoecoe]

Personally I cannot see the point in keeping the MPF where it is. Withdraw convert to whatever currency where you are and invest in something cheaper and with better returns,

or, withdraw and invest in something better here in HK.

However, to withdraw you need to take the oath to say you are leaving HK permanently. I think to do this you need to be in Hong Kong so you would need to come here to it.