BN(O) Documents Can't Be Used To Withdraw MPF

The Mandatory Provident Fund Schemes Authority stressed on Wednesday that people cannot use a British National (Overseas) passport or the BN(O) visa for those relocating to Britain as proof they are leaving the territory and are therefore eligible to withdraw their MPF pots early.

Reports emerged earlier in the day that one firm, Manulife, would accept the BN(O) visa as evidence that somebody is leaving the SAR permanently.

But in a statement, the authority noted that in January, the government stopped recognising BN(O) passports as valid travel documents or proof of identity.

It said the BN(O) passport and the visa cannot therefore be used to make MPF withdrawal applications.

"MPF trustees have the duty to observe Hong Kong laws when handling the administrative matters of MPF schemes. When processing applications for early withdrawal of MPF on the grounds of permanent departure from Hong Kong, MPF trustees must act as a gate-keeper by reviewing all evidence provided by applicants, and the totality of facts and information," the authority said.

It added that it would follow up on the issue with MPF trustees.

Hong Kong followed Beijing's move to stop recognising BN(O) passports from January 31 – the day Britain started accepting applications from people with BN(O) status for a visa to live and work in the UK for five years, and eventually seek British citizenship.

London introduced the new arrangement in light of the national security law Beijing imposed on the SAR last year.