A delegation from Guinea-Bissau recently visited the Social Security Fund (FSS) and both parties exchanged views about the contents and developments of the social security system of the two places.

Being accompanied by the staff of the Macao Trade and Investment Promotion Institute, the three-member delegation who came to Macao to attend the 17th Macao International Trade and Investment Fair (MIF) visited the FSS office at China Civil Plaza Building in NAPE in the afternoon of 19 October.  The delegation, which included Mamadu Iaia Djaló, Director of the Guinea Bissau National Social Security Bureau, José Abdul Carimo Ly, Director of the Private Investment Promotion Bureau, and Abel Iamedi Incada, Vice President of the Chamber of Commerce for Industrial, Agricultural and Service Sectors, were warmly received by Ip Peng Kin, President of the FSS Administrative Committee, and Chan Pou I, Head of the Contribution Division.  During the meeting, Ip said that he hoped to strengthen cooperation with the relevant departments of Guinea-Bissau in the future through exchanges.  Chan Pou I, Head of the Contribution Division, introduced to the delegation the organizational structure of the FSS and the double-tier social security system of Macao.  The first tier Social Security System which was implemented on 1 January last year, included the obligatory contribution system and arbitrary contribution system; and in order to provide better protection for the retirement life of the residents, the work of legislation and formulation of implementation plan for the second tier Central Provident Fund System is being actively launched.

The representatives of Guinea-Bissau also introduced the situation of the social security system of their country and the features of the system.  Their social security system is also divided into two types, obligatory and voluntary.  First established in 1980, the obligatory social security is shared by both the employers and the employees.  Employers and employees are required to pay the social security fund of respectively 14% and 8% of the employee’s salary.  Until 2007, the voluntary social security was launched to protect the other residents who have not participated in the obligatory contributions.  Subsequently, both parties continued to share experiences of the implementation and operations of the social security systems of the two places.