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The MPFA Managing Director, Mr Cheng Yan-chee and the Administration of Social Insurance Fund of Guangdong (ASIFGD) Director, Mr Yin Xiucai signed a Memorandum of Understanding (MoU) after the Hong Kong-Guangdong Cooperation Joint Conference on 12th July 2024. The signing ceremony was witnessed by the Governor of Guangdong, the Chief Executive of Hong Kong SAR and government officials from Guangdong and Hong Kong SAR. MPFA and ASIFGD reached an agreement to implement a simpler and speedier “notification and declaration” arrangement to facilitate the application for exemption from participation in Basic Pension Insurance under the “Interim Measures for Participation in Social Insurance by Hong Kong, Macao and Taiwan Residents” for MPF scheme members working under employment relationship in the Guangdong Province.

MPFA Managing Director, Mr Cheng Yan-chee (front row, first left) and the Director of Administration of Social Insurance Fund of Guangdong (ASIFGD), Mr Yin Xiucai (front row, second left) signed the Memorandum of Understanding for Cooperation on Exemption of Hong Kong Residents from Participation in Basic Pension Insurance, with the Chief Executive, Mr John Lee (back row, sixth left),  the Governor of Guangdong Province, Mr Wang Weizhong (back row, sixth right) and other officials from both sides as witnesses.

Mr Cheng said, "The Memorandum of Understanding for Cooperation on Exemption of Hong Kong Residents from Participation in Basic Pension Insurance further facilitates Hong Kong SAR residents working under employment relationship in Guangdong Province, allowing them to choose to apply for the relevant exemption by submitting a declaration and consent form to local social insurance agencies, without having to submit documentary proof of MPF membership. This would help enhance the mobility of talents in the Greater Bay Area."

MPFA Managing Director, Mr Cheng Yan-chee (front row, first left) and the Director of Administration of Social Insurance Fund of Guangdong (ASIFGD), Mr Yin Xiucai (front row, second left) signed the Memorandum of Understanding for Cooperation on Exemption of Hong Kong Residents from Participation in Basic Pension Insurance, with the Chief Executive, Mr John Lee (back row, sixth left),  the Governor of Guangdong Province, Mr Wang Weizhong (back row, sixth right) and other officials from both sides as witnesses.

MPFA Managing Director, Mr Cheng Yan-chee (left) and the Director of Administration of Social Insurance Fund of Guangdong (ASIFGD), Mr Yin Xiucai (right) after the signing ceremony.