Thousands of Hongkongers will be unable to cash in their pensions after moving to the UK
Thousands of people from Hong Kong risk losing access to their pensions if they come to the UK under a new visa scheme.
In retaliation at the UK offering a new visa, China initially announced it would not recognise the BN(O) passport as a travel or ID document from January 31, when the UK opened its doors.
Some 3m Hongkongers hold BN(O) status - many with BN(O) passports - and are eligible to move to the UK under the new visa.
And earlier this month, Hong Kong’s Mandatory Provident Funds (MPF) Schemes Authority - which is in charge of the city’s compulsory pension scheme - said: “BN(O) passports are no longer recognised as any form of proof of identity in Hong Kong. Thus, scheme members cannot rely on BN(O) passport or its associated visa as evidence in support of an application for early withdrawal of MPF.”
https://finance.yahoo.com/news/thousands-hongkongers-unable-cash-pensions-175605326.html
