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Corporate Service - Hong Kong

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Rules for Claiming Pension Fund at the Age of Sixty

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Q: When can workers who participate in the new labor pension system begin to receive their pension? Do they need their employer to apply on their behalf?
A:
  1. Workers can begin to claim the new labor pension once they reach the age of 60, regardless of whether they are still employed.
  2. The application for the new pension should be made by the individual directly to the Bureau of Labor Insurance and does not require the employer’s involvement.

Q: If an employee has already retired from the company but is under 60 years old, can they claim their personal pension account funds early? If they become unemployed before reaching 60, can they claim their pension early?
A: Considering that the labor pension is intended for the worker’s retirement life, it is not advisable to claim it too early. Therefore, workers must be at least 60 years old before they can claim their personal pension funds.

Q: After claiming the labor pension, if they continue to work and contribute to the pension (continued pension contributions), how can they claim the continued pension? Is there a time limit for claiming the continued pension?
A: If they continue to work after claiming the pension, the continued pension contributions can only be claimed after one year from the previous pension claim. For example, if you claim your pension on January 15, 2024, and continue to work, you can only claim the continued pension after January 15,2025.

Q: If a worker passes away, who can claim their pension? Can the worker designate someone other than their prioritized heirs to claim the pension while still alive?
A: In the event of the worker’s death, the pension will be claimed by the prioritized heirs. However, if the worker has made a will during their lifetime designating a specific person to claim the pension, that designated person will be entitled to claim it.

Q: Is there a priority order for the survivors’ claim for labor pension?
A: The priority order for survivors to claim the labor pension is as follows:
  1. Spouse and children
  2. Parents
  3. Grandparents
  4. Grandchildren
  5. Siblings.

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