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Non-mandatory Central
Provident Fund System

Withdrawal of Funds

The account owners who are in the following situations may apply to withdraw funds, and the maximum amount that can be withdrawn will vary according to the reason provided.

Reasons for making withdrawals All or part of the balance in the individual account The upper limit is the amount accumulated under the allocation system
(Note 3)
He/she has attained age 65 (Note 1)  
He/she is under age 65 but in the following situations:
There is a need to bear huge medical expenses due to serious injury or illness of his/her own  
He/she has attained age 60 and is not engaged in any paid activities (Note 2)  
He/she has humanitarian or other properly explained reasons  
There is a need to bear huge medical expenses due to serious injury or illness of his/her spouse, any degree of lineal consanguinity or affinity  
He/she has been receiving disability pension from the Social Security Fund for more than one year  
He/she is currently receiving special disability subsidy from the Social Welfare Bureau  

(Note 1) Account holders who have attained 65 years of age and who are currently receiving old-age or disability pension from the Social Security Fund can apply for Registration for Automatic Withdrawal of Funds.

(Note 2) Once the application has been approved, the individual account owner cannot withdraw funds for the same reason again.

(Note 3) The upper limit is the sum of the incentive basic funds and the special allocation of funds from budget surplus that are injected into the accounts by the government over the past years and less the accumulated amount of withdrawals.

Points to note:
- The employer’s contribution balance in the contribution sub-account can only be withdrawn by application after the termination of a labour relationship;
-  All or part of the funds in the individual account can be withdrawn only once per year.