MPFA Says Pension Funds Haven't Been Confiscated
"); jQuery("#212 h3").html("
"); });
2023-04-17 HKT 23:20
Share this story
The Mandatory Provident Fund Authority (MPFA) on Monday strongly condemned a report in the Wall Street Journal claiming that many Hong Kong people who have moved to the UK have had their pension funds confiscated.
In a statement, the authority called the report misleading.
It quoted the government as saying that British National Overseas (BNO) passports were no longer recognised as valid travel documents and proof of identity.
Therefore, the MPFA said, people could not rely on BNO passports or related visas as proof of "permanent departure from Hong Kong" for the purpose of applying for early payment of their Mandatory Provident Fund benefits.
TOPPAN Edge And Partisia Partner For Fully Privacy-Focused Digital Identity Solution
TOPPAN Edge is partnering with Partisia to develop a fully privacy-focused digital identity using Partisia’s Decentr... Read more
Livi Bank Achieves HKD2.9B In Customer Deposit Growth
livi Bank reported a total operating income of HK$220 million in 2024 in its latest annual report results, marking a 76... Read more
OSL And Ant Digital Partner To Drive Real-World Asset Tokenisation
OSL Group (863.HK), a publicly listed company for digital assets, and Ant Digital Technologies signed a Memorandum of U... Read more
WeLab Bank Hits Profit In 2025 With HKD750M Revenue
WeLab Bank achieved profitability in Q1 2025*, continuing from 2024 when it achieved breakeven within four years of its... Read more
Adoption Of GenAI Rises In Hong Kongs Financial Sector, Though Focus Remains On Internal Operations
In Hong Kong, financial institutions are increasingly adopting generative artificial intelligence (genAI), aiming for e... Read more
HKMA Forms CargoX Expert Panel To Modernise Trade Finance
On 28 April 2025, the Hong Kong Monetary Authority (HKMA) announced the creation of an Expert Panel on Project Cargox. ... Read more