Unreliable

There are several main risks in cashing out provident funds: 1. After the intermediary agency withdraws the provident funds, it may abscond with the money, and it will be all in vain.

2. If illegal withdrawal of provident funds is discovered, it may affect future provident fund loans. For units or individuals who illegally obtain provident funds by forging, altering, buying and selling official documents, certificates, and seals, and are also suspected of criminal offenses, if the circumstances are serious, they may be sentenced to a fixed-term imprisonment of not less than 3 years but not more than 10 years.

Third, once an individual's illegal withdrawal is discovered, the provident fund management center can recover the funds in accordance with the law, and the "intermediary fees" previously paid to the intermediary agency will also be wasted. Mr. Chen mentioned above not only lost the agency fee, but was also restricted from withdrawing provident funds for three years.