Reasons for early withdrawal of MPF
Have you worked in Hong Kong and accrued Mandatory Provident Fund (MPF) benefits during your employment? Usually, you’re only entitled to your MPF benefits after you reach the age of 65 years. However, there are several scenarios when you can withdraw your MPF benefits early. Those include:
- Early retirement
- Permanent departure from Hong Kong
- Total incapacity
- Terminal illness
- Small balance
- Death
How do you apply?
If you’re permanently leaving Hong Kong (ie, not intending to return to live or work), you can apply to withdraw your MPF benefits early (ie, before you reach the age of 65 years).
The application involves making a statutory declaration. You must declare that you have departed or will depart from Hong Kong to reside elsewhere with no intention of returning for employment or to resettle in Hong Kong as a permanent resident. You must also provide documentary proof that you are permitted to reside in a place outside Hong Kong. If you have previously withdrawn your MPF because you permanently departed Hong Kong, you will not be entitled to make any subsequent application on the same grounds with a later departure date. This means if you’re not sure whether you’ll be returning to Hong Kong to work again in the future, you should consider very carefully if (and how) you intend to withdraw your MPF benefits.
Permanent departure from Hong Kong
You can find the relevant statutory declaration/form here FORM MPF(S) – W(SD2) “Statutory Declaration for claims for payment of MPF accrued benefits on grounds of permanent departure from Hong Kong”.
If you’re signing this statutory declaration in Australia, you must sign it in front of a notary public who must witness your signature and notarise your statutory declaration. You must submit the original notarised statutory declaration to your MPF trustee.
Unlike other notarised documents for Hong Kong, FORM MPF(S) – W(SD2) usually doesn’t require an apostille, but you should always check with your MPF trustee before returning the documents to them.
The Mandatory Provident Fund Schemes Authority is aware that criminals and crime syndicates exploit payment claims (especially early withdrawals) and will prosecute people who make false or misleading statements. The Authority proactively conducts random checks and investigates suspected cases to take enforcement action.
