Hong Kong recorded the highest-ever quarterly number of applications to withdraw from the city’s compulsory pension fund on emigration grounds since the scheme began, according to the latest statistics by the city’s financial regulator.

The Mandatory Provident Fund Schemes Authority said on Tuesday there were 8,100 applications for early withdrawal because of “permanent departure from Hong Kong” between July and September last year — a quarterly increase of 72.6%.

With a difference of 6,000 applications from the previous quarter, the applications from July to September involved a total of HK$1.7 billion (US$219 million).

The compulsory saving scheme began in 2000 and requires employees and employers aged 18 to 65 to contribute monthly to mandatory provident fund schemes provided by insurers acclaimed by the Hong Kong government.

Employees can apply for a full refund on the grounds of permanent departure from the city just once in a lifetime. The spike in applications came after Beijing’s imposition of the overarching national security law last June, which essentially criminalizes the once-tolerated dissenting voices in the city. Dozens of pro-democracy activists, including Apple Daily founding chairperson Jimmy Lai, have been arrested under the legislation.

Many foreign governments have since rolled out so-called lifeboat schemes to allow Hongkongers to work and study abroad as a pathway to foreign citizenship, including the United Kingdom, Hong Kong’s former colonial ruler.

Britain launched a special five-year visa for British National (Overseas) passport holders in January. According to data from the Home Office, about 27,000 people have applied for this route to reside in the U.K. that provides a pathway to U.K. citizenship.

This trend of emigrating to the U.K. has shown no signs of slowing down, immigration consultant Billy Wong said, who projected the current trend would continue for years to come.

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