Withdrawal of benefits at 65

Manage your MPF upon retirement

You can withdraw your accrued benefits in a lump sum or by instalments when you have reached the age of 65.  You may, of course, keep your benefits in the existing scheme.  Before making any decision as regards the amount and timing of withdrawal of accrued benefits, you should consider carefully, among other things, your personal needs, risk tolerance level and financial circumstances.  If your accrued benefits are not withdrawn in a lump sum, the remaining accrued benefits will continue to be invested.  Investment involves risk and the price of fund units may go down as well as up.  Past performance does not indicate future performance.    You may refer to our publications available on our website. In the meantime, your account will, as usual, be subject to management fees and other charges by the trustee based on its total asset value.  Moreover, if you intend to withdraw your accrued benefits by instalments, be aware that trustees are required to process free of charge the first four withdrawals of a scheme member in a year*.  You should contact your trustee to find out more about the related withdrawal arrangements before making an application, or you may refer to the “How to Manage Your MPF Upon Retirement" leaflet.

If you are ready to withdraw, here is what you need to do.

Step 1: Fill in "Claim Form for Payment of Accrued Benefits on ground of Attaining the Retirement Age of 65 or Early Retirement" [Form MPF(S)-W(R)]. You can obtain the form from your trustee.

Step 2: Send the form to your trustee together with documents proving your age (Note: Please do not send the documents to MPFA). A copy of your Hong Kong Identity Card will usually suffice.

If you wish to withdraw accrued benefits from more than one MPF scheme, you will need to make a separate request for each scheme. Please contact your trustee directly to enquire about the administrative procedures for making a request and the necessary documents. In general, upon receipt of all required documents, the trustee is required to pay the accrued benefits to you within 30 days. Contact information of all trustees can be found here.

* Other than necessary transaction costs, which are incurred, or reasonably likely to be incurred, by the trustee in selling or purchasing investments in order to give effect to the payment; and payable to a party other than that trustee.