More flexibility on withdrawing MPF benefits
Starting 1 February 2016, scheme members who have reached the age of 65 or have retired after the age of 60 can enjoy more flexibility on MPF as now they can withdraw their MPF benefits by instalments, in addition to the original choice of taking all of it in a one-off lump sum.
After the implementation of the new rule, you can choose to withdraw your MPF benefits any time according to your personal needs after retirement. There is also no restriction on the amount of each instalment or the number of withdrawals. Moreover, you can choose to take out all MPF benefits or retain all MPF benefits in your account for continuous investment.
For more details on how to manage your MPF upon retirement, please check out MPFA’s leaflet or watch the video below.