Hongkongers cannot use the British National (Overseas) visa to apply for an early withdrawal of their retirement money as it is “no longer recognized as a valid travel document,” a Hong Kong regulator has said.

The ban was imposed on Wednesday by the Mandatory Provident Fund Schemes Authority, after Manulife and several other MPF trustees said that they would accept the BN(O) visa as proof in applications to take out the money and close the account. The Canadian-based insurer Manulife is the city’s biggest provider of schemes that manage residents’ MPF accounts.

MPF schemes are compulsory monthly savings plans to provide a social safety net to retired residents in Hong Kong. Under normal circumstances, employees cannot get the money until they are 65, but they can do so on emigration grounds.

“BN(O) passports are no longer recognized as any form of proof of identity in Hong Kong. Thus, scheme members cannot rely on the BN(O) passport or its associated visa as evidence in support of an application for early withdrawal of MPF,” the regulator said in a statement.

“MPF trustees have the duty to observe Hong Kong laws when handling the administrative matters of MPF schemes … MPF trustees must act as gatekeepers by reviewing all evidence provided by applicants, and the totality of facts and information.”

In late January, the British government launched a special scheme that enabled Hongkongers to apply for a five-year visa which would pave the way for expedited citizenship.

Authorities in Beijing and Hong Kong responded to London’s move by immediately ceasing to recognize the BN(O) passport, a remnant of the 156-year British colonial period, as a valid travel document.

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