MPFA Mulls Emergency Withdrawals, Proposal Due This Year

When can you take MPF money early?

A decade into MPF, the MPFA will review withdrawal rules — studying emergency access for serious illness or sudden hardship, plus phased monthly withdrawals after 65 — with preliminary proposals due this year. Financial Secretary aide K.C. Chan says the government is open-minded; today, members can withdraw lump sums at 65 or defer until markets recover.

What should workers do meanwhile?

Reform won’t help today’s emergencies — keep your own buffer. While MPF compounds, review your portfolio’s risk level so a downturn near retirement never forces a fire sale.