Pensions: Hong Kong
The question
To ask the Chancellor of the Exchequer, whether her Department has made an estimate of the total pension savings held by Hong Kong British National (Overseas) visa holders resident in the UK but held in Hong Kong which they are not able to transfer until they gain British citizenship due to Hong Kong’s permanent departure clause.
Answered by Emma Reynolds
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) (BN(O)) visa route are having difficulties in drawing down early their pensions held in the Hong Kong Mandatory Provident Fund (MPF).
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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