MPFA says pension funds haven't been confiscated
The Mandatory Provident Fund Schemes Authority (MPFA) on Monday strongly condemned a report in the Wall Street Journal claiming that many Hong Kong people who have moved to the UK have had their pension funds confiscated. In a statement, the authority called the report misleading. It quoted the government as saying that British National Overseas (BNO) passports were no longer recognised as valid travel documents and proof of identity. Therefore, the MPFA said, people could not rely on BNO passports or related visas as proof of "permanent departure from Hong Kong" for the purpose of applying for early payment of their mandatory provident fund benefits.