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Bank Transfer Tomorrow to Senior Citizens who meet the Eligibility Requirements of Automatic Payment of Central Provident Fund’s Allocation

2020-08-20

According to the Social Security Fund (abbreviated to FSS in Macao), people over 65 years old who already registered last year for automatic withdrawal of funds of the special allocation from budget surplus of the non-mandatory central provident fund system and also meet the requirements for automatic payment this year will receive the 2020 payment tomorrow (21st August).  The remaining persons eligible for fund withdrawal will receive the relevant funds on 21st October if they submit their fund withdrawal applications before the end of September and got approval. 

On 21st August, the FSS will deposit 7,000 patacas of the special allocation from this year’s budget surplus, together with any interest, to the bank accounts of 54,000 senior citizens who meet the requirements for automatic payment.  Senior citizens may check whether they meet the relevant eligibility requirements at a self-service machine or the “Enquiry about Automatic Withdrawal Registration and Payment” page on the FSS’s website.
(1) The person must have been included in the list of special allocation from budget surplus announced this year;
(2) The person must have provided the proof of life on or before 30th June this year;
(3) The person has not withdrawn the funds from his or her central provident fund’s individual account this year.

Starting in August, the remaining persons eligible for fund withdrawal (above 65 years old and have not been approved for automatic payment/under age 65 but currently receiving disability pension from the Social Security Fund for more than one year/currently receiving special disability subsidy from the Social Welfare Bureau) can apply at a self-service machine or a service point of the FSS.  If they apply before the end of September, the approved funds can be deposited into their designated bank accounts on 21st October.  If a person has not registered for automatic withdrawal of funds, he or she can also do it at the time of applying for fund withdrawal.

For information on the non-mandatory central provident fund system’s individual accounts, members of the public may visit the FSS’s website at www.fss.gov.mo, call the 24-hour interactive voice response hotline at 2823 0230 or call 2853 2850 during office hours.