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- Criminal offence for false claim for early withdrawal of MPF benefits
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Criminal offence for false claim for early withdrawal of MPF benefits
The Mandatory Provident Fund Schemes Authority (MPFA) reminds members of Occupational Retirement Schemes (ORSO schemes) that it is an offence to make a false statement when applying for early withdrawal of minimum MPF benefits (MMB) on the ground of permanent departure from Hong Kong, and doing so may result in imprisonment and a fine.
The MPFA appeals to ORSO scheme members to abide by the law.
According to the Mandatory Provident Fund Schemes (Exemption) Regulation, when members of Mandatory Provident Fund (MPF) exempted ORSO schemes cease employment, their MMB, calculated according to a statutory formula, must be transferred from the ORSO scheme to an MPF account to ensure its preservation for the members’ future retirement needs.
Just as with MPF benefits, the withdrawal of MMB is subject to statutory requirements. ORSO scheme members who will depart from Hong Kong permanently may only rely on this ground to make an early withdrawal of their MMB or MPF benefits once in their lifetime.
The MPFA keeps registers of all applicants for early withdrawal of benefits on the ground of permanent departure from Hong Kong. Trustees will notify the MPFA of ORSO scheme members’ applications for early withdrawal of MMB and the MPFA will check if the members have previously submitted applications for early withdrawal of MMB or MPF benefits on the same ground.
Last year, the MPFA introduced a new version of the relevant statutory declaration form with prominent warnings to remind scheme members that they are only entitled to make early withdrawal of MMB or MPF benefits on the ground of permanent departure once in a lifetime and anyone making a false statement in this regard commits an offence.
An ORSO scheme member was earlier prosecuted for making a false statement in a document given to his ORSO trustee to apply for early withdrawal of his MMB.
In his application to his ORSO trustee in November 2013 for early withdrawal of MMB on the ground of permanent departure from Hong Kong, the member declared that he had never made any such previous claim. However, according to the MPFA’s records, the member had withdrawn his MPF benefits on the same ground in 2010. The MPFA therefore referred the case to the Police for further investigation. He was subsequently convicted under the Crimes Ordinance in December 2014 and was sentenced to 120 hours of community service order.
- Ends -
16 February 2015
The MPFA appeals to ORSO scheme members to abide by the law.
According to the Mandatory Provident Fund Schemes (Exemption) Regulation, when members of Mandatory Provident Fund (MPF) exempted ORSO schemes cease employment, their MMB, calculated according to a statutory formula, must be transferred from the ORSO scheme to an MPF account to ensure its preservation for the members’ future retirement needs.
Just as with MPF benefits, the withdrawal of MMB is subject to statutory requirements. ORSO scheme members who will depart from Hong Kong permanently may only rely on this ground to make an early withdrawal of their MMB or MPF benefits once in their lifetime.
The MPFA keeps registers of all applicants for early withdrawal of benefits on the ground of permanent departure from Hong Kong. Trustees will notify the MPFA of ORSO scheme members’ applications for early withdrawal of MMB and the MPFA will check if the members have previously submitted applications for early withdrawal of MMB or MPF benefits on the same ground.
Last year, the MPFA introduced a new version of the relevant statutory declaration form with prominent warnings to remind scheme members that they are only entitled to make early withdrawal of MMB or MPF benefits on the ground of permanent departure once in a lifetime and anyone making a false statement in this regard commits an offence.
An ORSO scheme member was earlier prosecuted for making a false statement in a document given to his ORSO trustee to apply for early withdrawal of his MMB.
In his application to his ORSO trustee in November 2013 for early withdrawal of MMB on the ground of permanent departure from Hong Kong, the member declared that he had never made any such previous claim. However, according to the MPFA’s records, the member had withdrawn his MPF benefits on the same ground in 2010. The MPFA therefore referred the case to the Police for further investigation. He was subsequently convicted under the Crimes Ordinance in December 2014 and was sentenced to 120 hours of community service order.
- Ends -
16 February 2015
