Mandatory Provident Fund: British National (Overseas)
The question
To ask the Chancellor of the Exchequer, if she will issue guidance to (a) HSBC and (b) Standard Chartered on the validity of British National (Overseas) passports for Hong Kongers to use to secure early withdrawals of their Mandatory Provident Fund savings after permanently leaving Hong Kong.
Answered by Tulip Siddiq
This government is deeply committed to supporting members of the Hong Kong community who have relocated to the UK. We are aware that individuals who have chosen to take up the British National (Overseas) route are having difficulties accessing their Mandatory Provident Fund from Hong Kong.
Whilst documentary requirements for withdrawing funds are a matter for the Hong Kong authorities, officials have raised this issue directly with the Hong Kong Special Administrative Region Government and the Hong Kong MPF Schemes Authority. We have urged them to facilitate early draw down of funds as is the case for other Hong Kong residents who move overseas permanently and have made clear such discrimination of BN(O)s is unacceptable.
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