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亚马逊云账号(www.2km.me)_Hong Kong\u0027s departing residents withdrew $334 mln in pension funds in Q3

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HONG KONG, Dec 2 - Hong Kong residents leaving thecity for good withdrew a total of HK$2.604 billion ($334million) from their Mandatory Provident Fund (MPF) pensionaccounts in the third quarter of 2021, up 52.8% from a yearearlier, government data showed.

A total of 9,300 claims were made during the third quarter,compared with 8,100 claims taking out HK$1.704 billion duringthe same period in 2020, data from the Mandatory Provident FundSchemes Authority (MPFA) https://www.mpfa.org.hk/en/-/media/files/information-centre/research-and-statistics/quarterly-reports/mpf-schemes/september_2021_issue.pdfreleased on Thursday showed.

The increase in withdrawals is in line with the "continuousinflow of contributions and accumulated investment returnsoverall," said an MPFA spokesperson.

"Claimants may not be emigrants," the spokesperson alsosaid, adding they could include non-local employees leaving thecity at the end of job contracts.

The MPFA also said multiple claims are sometimes made by asingle person.

China imposed national security legislation in Hong Kong onJune 30 last year, making anything Beijing regards assubversion, secession, terrorism or colluding with foreignforces punishable by up to life in prison.

As China imposed the sweeping law, many Hong Kong citizensand residents left and took tens of billions of dollars out ofthe Asian financial hub.

In the second quarter of this year, HK$2.095 billion wastaken out of MPF accounts on 8,000 claims, up from HK$1.931billion on 7,700 claims in the first quarter.

Permanent departure claims increased to 33,600 in the 12months to end-September, from 30,100 claims during thecorresponding period to end-September 2020. REUTERS


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