MPF exam Preservation 權益的保存 Practice questions

Question 1

Where no statutory early withdrawal ground applies, until what age must accrued benefits arising from mandatory contributions and tax deductible voluntary contributions generally be preserved?

Accepted Answer

65

Answer

55

Answer

60

Answer

70

Question 2

What is the main purpose of imposing strict preservation requirements on MPF accrued benefits?

Accepted Answer

To keep money available for members when they retire

Answer

To pay members’ everyday expenses during employment

Answer

To ensure members receive a guaranteed investment return

Answer

To provide income whenever members are between jobs

Question 3

Mr Wong, aged 45, resigns from his job in Hong Kong and has no new job for the time being. He wants to withdraw his accrued benefits arising from mandatory contributions but has no statutory early withdrawal ground. Which statement is correct?

Accepted Answer

The benefits remain preserved, generally until he reaches age 65

Answer

He can withdraw all benefits immediately because his employment has ended

Answer

He can immediately withdraw only the portion arising from employee mandatory contributions

Answer

He can withdraw all benefits after one month without work

Question 4

Which statement about preservation of MPF benefits is NOT correct?

Accepted Answer

Ordinary voluntary contributions can always be withdrawn by members at any time without conditions

Answer

Benefits arising from tax deductible voluntary contributions are subject to preservation

Answer

Legislation permits early withdrawal of benefits arising from mandatory contributions in specified circumstances

Answer

Benefits arising from both employer and employee mandatory contributions are subject to preservation

Question 5

Where no statutory early withdrawal ground applies, benefits arising from which contributions are subject to preservation until the member reaches age 65? (i) Employee mandatory contributions; (ii) employer mandatory contributions; (iii) tax deductible voluntary contributions; (iv) ordinary employee voluntary contributions that are not TVC.

Accepted Answer

(i), (ii) and (iii) only

Answer

(i) and (ii) only

Answer

(i), (iii) and (iv) only

Answer

(i), (ii), (iii) and (iv)

Question 6

Ms Lee, aged 38, has left her employment. Her MPF scheme’s governing rules expressly allow all benefits arising from her own ordinary voluntary contributions to be paid to her on leaving employment. These contributions are not TVC. Which statement about those voluntary contribution benefits is correct?

Accepted Answer

They may be paid to her under the scheme’s governing rules

Answer

They must remain preserved until 65 despite the governing rules allowing payment

Answer

Only the original contributions may be paid; investment gains must remain preserved until 65

Answer

They may only be transferred to another MPF scheme and cannot be paid to her

Question 7

Ms Cheung, aged 42, does not meet any statutory early withdrawal condition. She believes she can withdraw investment gains arising from mandatory contributions because the gains are not contributions themselves. Which statement is correct?

Accepted Answer

The investment gains are also subject to preservation

Answer

All investment gains may be withdrawn if the original contributions are retained

Answer

Only investment gains arising from employer mandatory contributions must be preserved

Answer

Investment gains may be withdrawn once a year

Question 8

Mr Ho, aged 50, does not meet any statutory early withdrawal condition. A trustee proposes to use a discretionary clause in the scheme’s governing rules to pay him accrued benefits derived from mandatory contributions once he signs a consent form. Which statement is correct?

Accepted Answer

The benefits must remain preserved; the clause and Mr Ho’s consent cannot replace a statutory early withdrawal condition

Answer

All the benefits may be paid if both the trustee and Mr Ho agree

Answer

Once Mr Ho signs, only benefits derived from employee mandatory contributions may be paid

Answer

Once the trustee exercises its discretion, only benefits derived from employer mandatory contributions may be paid

Preservation 權益的保存

Purpose and Preservation Age 保存的目的及年齡規定

Scope: All Benefits and TVC 保存範圍：全部權益及可扣稅自願性供款

Other Voluntary Contributions: Scheme Rules Apply 其他自願性供款：按計劃規則支付

Practice