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Friday, 3 June 2016

Resolving my pension fund

HK's pension fund is known as the mandatory pension fund (MPF) which both employers and employees are required to contribute at least a fixed amount every one you're employed. Normally you're not allowed to withdraw the funds until you're 65, but there are excepts in certain cases. Like permanently leaving Hong Kong...

Photo: http://www.mpfa.org.hk/

Aside from submitting forms to get my MPF back, I had to first get a statutory declaration. Basically this is a form stating my departure date and is officially notarized by a government representative. HK offers a free notary service at the Home Affairs Department. The location at Wan Chai completes the "swearing in" process every hour and is very quick to be completed. Once the form is completed, you read a passage in front of the staff  member to declare the statements/information are true.

With the declaration and letter of release from the Inland revenue department in hand, I booked an appointment with the university's MPF investment company. The officer reviewed the forms and double checked all the relevant details were correct and said everything should be processed and deposited within a month. So wrapping up my financials only took about 2 days...

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