How Heavy Is the Penalty for Faking Departure to Withdraw MPF?

What happened in March 2011?

In March 2011, an MPF scheme member was fined HK$14,000 at Kwun Tong Magistrates’ Courts for early withdrawal on false permanent-departure grounds. The MPFA’s investigation showed the member had falsely declared never having used the ground before.

What’s the rule on permanent-departure withdrawal?

Once per lifetime; a second fraudulent claim is a criminal offence, and the MPFA checks records.

What’s the lesson?

Don’t lie to cash out early — the fine is the least of it; a criminal record is worse. Rather than plotting withdrawals, grow the pot at MPF fund comparison.