Tuesday, 22 July 2014

Hong Kong Updates- MPF

The Mandatory Provident Fund (MPF) Schemes Amendment Bill was gazetted on 27 June, and will introduce some radical new ideas into Hong Kong's MPF system. Specifically, benefits will be payable in the event of terminal illness, and phased withdrawals will be allowed (with no additional charge) rather than just lump-sum withdrawals.

FATCA reporting obligations will also be enabled by the proposed changes.

Primasia will post the updates of Hong Kong and China from time to time. Follow us on our WebsiteBloggerLinkedIn and stay tunned for our updates!
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