Frequently Asked Questions

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General Information Relating to the Non-Mandatory Central Provident Fund System

1. What is the purpose of establishing the non-mandatory central provident fund system?

The purpose of establishing the non-mandatory central provident fund system is to strengthen the social protection for the residents of the Macao Special Administrative Region in their old age and to complement the existing social security system.

2. What sub-accounts compose an individual account of the non-mandatory central provident fund system?

An individual account is composed of the following three types of sub-accounts:

A government-managed sub-account which is managed by the Social Security Fund, primarily for the use of recording and managing the funds allocated by the government, and the balance transferred from other sub-accounts;

A contribution sub-account which is managed by the fund management entity, primarily for the use of recording and managing the contributions of the contribution scheme;

A preserved sub-account which is managed by the fund management entity, primarily for the use of recording and managing the balance transferred from the contribution sub-account due to termination of a labour relationship.

3. What is the difference between an individual account owner of the provident fund and an individual account owner of the non-mandatory central provident fund system? Do I need to complete any formalities?

The Non-Mandatory Central Provident Fund System Law came into force on 1 January 2018, and the individual account owner of the provident fund automatically became the account owner of the non-mandatory central provident fund system, and the balance of the individual account was automatically transferred without formality to the government-managed sub-account of the non-mandatory central provident fund system’s account owner.

4. Is the incentive basic funds of the non-mandatory central provident fund system the same as the incentive basic funds of the provident fund individual account?

The incentive basic funds prescribed by the Law of “Provident Fund Individual Accounts” will be considered as being paid to the individual account of the non-mandatory central provident fund system and therefore the account owner will get the incentive basic funds for once.

5. If I do not participate in a contribution scheme of the non-mandatory central provident fund system, will it affect my right to the special allocation from budget surplus?

It will not affect your right to the special allocation from budget surplus.

Investment Instruments of the Non-Mandatory Central Provident Fund System

1. Are contributions to the provident fund scheme invested by the government?

No, contributions to the provident fund scheme are invested by the fund management entities. Employers and employees of joint provident fund schemes, as well as contributors of individual provident fund schemes pay contributions to the fund management entities which will subscribe fund units according to the investment allocation decision of contributors.

2. Can a fund management entity register the open pension funds it establishes as the investment instruments of the non-mandatory central provident fund?

A fund management entity may apply to the Social Security Fund to register the open pension funds it manages and established with the approval of the Monetary Authority of Macao as the investment instruments of the non-mandatory central provident fund.

3. How to check information about the investment instruments under the non-mandatory central provident fund?

You may browse the Non-Mandatory Central Provident Fund System Information Platform for the list of pension funds already registered under the non-mandatory central provident fund.

4. Can contributions to the provident fund scheme be directly invested in the government-managed sub-account?

The government-managed sub-account is mainly used to record and manage the funds allocated by the government, as well as the balance transferred from other sub-accounts. It cannot be used to receive direct contributions.

5. How does the government regulate fund management entities in order to protect the rights and interests of account owners?

The Monetary Authority of Macao is responsible for supervising fund management entities, their business agents, the pension funds’ investment portfolios and their operations in accordance with current legislation, so as to protect the rights and interests of the account owners.

The Social Security Fund is responsible for the vetting and approval of provident fund schemes, registration of investment instruments under the non-mandatory central provident fund, supervising the implementation of provident fund schemes and following up on contribution matters, managing government-managed sub-accounts, processing the non-mandatory central provident fund’s fund withdrawal applications, as well as protecting the information rights of interested parties.

Access to Information

1. How to check information about the non-mandatory central provident fund’s individual accounts?

Account owners may check information about the non-mandatory central provident fund’s individual account overview (including government-managed sub-account, contribution sub-account and preserved sub-account) using the following methods:

(1) Log in to the Non-Mandatory Central Provident Fund System Information Platform with the "Macao One Account";
(2) "Macao One account" mobile app;
(3) "Macao One account" online platform.

For further details about the contribution sub-account and preserved sub-account, please contact the fund management entities.

2. How can I obtain information on the returns, risks and charges of pension funds?

You may check the information from the Non-Mandatory Central Provident Fund System Information Platform, or contact the fund management entities for obtaining relevant information.

3. Through what channels can employers obtain information about the vesting of benefits that already goes to the employees or still belongs to the employers themselves?

You may contact the fund management entities for relevant information.

Interface Between the Joint Provident Fund Scheme and a Private Pension Plan

1. If an employer decides to participate in the non-mandatory central provident fund, what impact will it have on existing and newly hired employees?

Starting from the date when the employer interfaces with the non-mandatory central provident fund, existing employees who have already participated in the company/organization's private pension plan (referred to as the "private pension") before the said date can choose to interface with the non-mandatory central provident fund’s joint provident fund scheme, or remain in the private pension plan, while the newly hired employees, and existing employees who have not joined a private pension plan may only choose to participate in the non-mandatory central provident fund, but not the private pension plan. (For details, please refer to "Interface between the Joint Provident Fund Scheme and Private Pension Plan ")

2. Assuming that the upper limit of the calculation base of contributions set by the employer for a private pension plan is 50,000 patacas, will this upper limit be lowered to 33,280 patacas after interfacing with the non-mandatory central provident fund?

The non-mandatory central provident fund only lays down the basic standards. The law has made it clear that if the terms set for the private pension plan are more favourable for employees than those of the non-mandatory central provident fund’s joint provident fund scheme, the relevant terms must continue to apply to existing employees who have already joined a private pension plan at the time of interface. In the above example, the employer interfaces the private pension plan with the joint provident fund scheme, and the upper limit of the calculation base of contributions must remain at 50,000 patacas.

3. After the interface, will the contribution time for the previous private pension plan be included in the contribution time for the non-mandatory central provident fund?

The contribution time for the private pension plan and the joint provident fund scheme must be combined. For example: if an employee has contributed to the private pension plan for 5 years and chooses to interface with the joint provident fund scheme for the 6th year, and then continues to make contributions for 2 years before leaving the job. For calculating the vesting of benefits, the contribution time of both the private pension plan and joint provident fund scheme must be 7 years, i.e. 5 years (the contribution time for the private pension plan) + 2 years (the contribution time for the joint provident fund scheme).

Joint Provident Fund Scheme – Employer

1. What are the benefits of establishing a joint provident fund scheme for employers?

Within the limits set by tax law, in order to determine the employer’s taxable profits with respect to profits tax and salaries tax, the employer’s contributions to the joint provident fund scheme are considered as the operating costs or the burdens of doing business, and are deducted from the taxable profits. (Please refer to "Tax Concessions" for details)

2. Can an employer only allow some of his or her employees to participate in the joint provident fund scheme?

No, if an employer establishes a joint provident fund scheme, all local employees employed by him or her can participate. If it is the first time for an employer to establish a joint provident fund scheme, he or she is required to notify all local employees to exercise their right to participate within 10 working days from the date of receipt of notification about the coming into effect of the scheme. For new employees hired after the employer’s joint provident fund scheme comes into effect, the employer must notify the employee within 10 working days from the date of establishing a labour relationship with the employee, that they can choose to participate in the scheme.

3. Does the employer have the right to choose the fund management entity and the investment allocation of contributions?

For the joint provident fund scheme, the fund management entity is chosen by the employer, and the employer and employee each chooses suitable pension funds and investment allocation for their own contributions, among the pension funds managed by the fund management entity. The investment allocation ratio should be at least 5% or an integral multiple thereof. When the employee's contribution time satisfies the eligibility criteria for obtaining all the contribution balance of the employer (e.g. according to the non-mandatory central provident fund’s standard, it is when the contribution time reaches 10 years), the employee has the right to decide the pension fund investments and allocation ratio for the contributions of the employer and his or her own.

4. Can employers apply to switch fund management entities?

Yes, but it should be noted that the benefits granted to employees in the original fund management entity shall not be reduced because of the switching of fund management entities, in particular, the employer’s contribution rate, calculation base of contributions and vesting of benefits, and the continuous calculation of contribution time shall not be affected. (For details of the procedures, please refer to "The Employer to Switch the Fund Management Entity")

5. Can an employer transfer the investment right of contributions to the relevant employee from the date of establishing the joint provident fund scheme?

Yes.

6. How to calculate the employer's monthly contribution amount?

The minimum standard of the joint provident fund scheme is to contribute 5% of the employee's basic wage (commonly known as the basic salary) of the month. The employer may also set a calculation base of contributions that is more favourable to employees, such as basic remuneration (i.e. salary for the whole month), or setting a contribution rate higher than 5%.

7. If an employer wants to set more favourable contribution conditions for employees, and wants to adjust the calculation base of contributions, the contribution rate, and the upper limit of the calculation base of contributions, how should he or she apply?

The employer should adjust by amending the joint provident fund scheme through the fund management entity. (For details of the procedures, please refer to "The Employer to Amend the Information of the Joint Provident Fund Scheme")

8. Can an employer provide multiple fund management entities for the employee to choose from at the same time? Is the employer allowed to provide higher-than-standard contribution conditions such as the calculation base of contributions, contribution rate when establishing a joint provident fund scheme?

The standards stipulated by the law are only the minimum requirements, and the System allows employers to provide more favourable terms for employees. Therefore, multiple fund management entities can be provided for employees to choose from at the same time, and the calculation base of contributions, and contribution rate that are above the standard can also be provided.

9. The employer can set different conditions for employees of different levels when entering into a joint provident fund scheme contract (e.g. the employer’s contribution rate for employees at management level to be 10% and clerical level to be 5%). Does the employer need to notify the fund management entity if an employee’s level changes?

Yes, the employer should notify the fund management entity of the change in the employee’s level as soon as possible, and the fund management entity will adjust according to the different circumstances of the employee.

10. An employee leaves the job after working only for one year and therefore he or she is not entitled to the balance of the employer’s contributions. How should the employer handle these funds?

The employer can use these funds to pay contributions for the other employees, or apply to the Social Security Fund for fund withdrawal, but the funds withdrawn cannot enjoy tax concessions.

11. When should the employer notify the fund management entity about the leaving of an employee?

Before the month following the termination of labour relationship, the employer shall notify the fund management entity of termination of labour relationship by submitting a dedicated form designated by the fund management entity, and then pay the last month of contributions.

12. Will there be any penalties for employers who fail to pay contributions?

The fund management entity and the Social Security Fund will give reminders and advice to the employer. If the employer is still in arrears with the contributions, the default contributions may be subject to compulsory levy according to the law.

13. Will there be any penalties for employers who keep the employee contributions as their own and do not transfer the contributions to the fund management entity?

If it is proved that the employer intends to improperly appropriate all or part of the non-mandatory central provident fund’s contributions deducted from the employee’s remuneration according to law, and fails to pay the contributions to the fund management entity within 60 days of the expiration of the statutory period, the employer shall be liable to imprisonment for up to 3 years, or a fine.

14. Can an employer apply to withdraw from a joint provident fund scheme after establishing one?

No, but the employer may apply to the Social Security Fund to suspend contributions if he or she has a major economic reason. If the application is granted, the employer may suspend contributions for all employees for up to one year. (Renewal application can be made according to regulations)

15. If an employer wants to provide retirement protection for his or her non-resident workers, can he or she establishes a joint provident fund scheme for them to participate?

The joint provident fund scheme of the non-mandatory central provident fund is limited to local employees, excluding non-resident workers. If the employer intends to provide retirement protection for the non-resident workers, the employer can arrange for them to participate in a private pension plan.

16. How does an employer apply for the “Online Services” to check information about the contributions and related information on the joint provident fund scheme?

By bringing the application form together with the relevant documents, the employer may apply, in person or through a representative, at the Social Security Fund. (For details, please refer to "Application for the Employer to Make Online Enquiry”). If the application is successful, the employer may log in to the “Online Services” with the "Macao One Account” to check the relevant joint provident fund scheme’s contribution records and account balance.

Joint Provident Fund Scheme – Employee

1. What are the eligibility criteria for participating in a joint provident fund scheme?

Any local employees who have attained the age of 18, or who are under 18 but have enrolled in the Social Security System, can participate in a joint provident fund scheme established by the employer.

2. Can non-resident workers participate in the non-mandatory central provident fund?

No.

3. Can public administration staff participate in the non-mandatory central provident fund?

They can only participate in the individual provident fund scheme.

4. When will an employee start paying contributions after joining a company? Is he or she required to pay contributions during the probationary period? Does a casual worker need to make contributions?

After an employee joins a company, whether he or she is on probation or whether he or she is a casual worker, the employer and employee will start paying contributions from the month following the employee’s written consent to participate in the joint provident fund scheme.

5. What are the benefits of interfacing a private pension plan with a joint provident fund scheme for employees?

Interfacing with a joint provident fund scheme is beneficial to employees. The non-mandatory central provident fund stipulates that regardless of the reason for terminating the labour relationship, the joint provident fund contributions that employees can receive from the employer are calculated based on the vesting of benefits. Employers cannot use these contributions to offset the dismissal compensation, which in a way can better protect the rights and interests of the employees.

6. Do employees have the right to choose the fund management entity, and investment allocation of contributions?

The fund management entity of the joint provident fund scheme is chosen by the employer, and employees can choose the suitable pension funds and investment allocation for their own contributions, among the pension funds managed by the fund management entity selected by the employer. When the employee's contribution time satisfies the eligibility criteria for obtaining all the contribution balance of his or her employer (if according to the non-mandatory central provident fund’s standard, it is when the contribution time reaches 10 years), the employee has the right to decide the pension fund investments and allocation ratio for the contributions of the employer and his or her own.

7. If a labour relationship is not terminated, according to the vesting scale, the employee can get 30% of the employer’s contributions if the employee’s contribution time is 3 years to less than 4 years. Does the employee have the right to control the investment allocation of the employer’s 30% of contributions?

Before the employee’s contribution time satisfies the eligibility criteria for obtaining all the employer’s contributions (if according to the non-mandatory central provident fund’s standard, it is when the contribution time reaches 10 years): the contributions will be handled according to the terms of the establishment contract of the joint provident fund scheme, i.e. the employer and employee each chooses suitable pension fund investments and allocation ratio for their own contributions, or the employer may stipulate in the establishment contract that he or she agrees to transfer the investment allocation right of contributions to the employee.
After the employee’s contribution time satisfies the eligibility criteria for obtaining all the employer’s contributions: the employee has the right to decide the pension fund investments and allocation ratio for the contributions of the employer and his or her own.

8. Can employees adjust the contribution amount, e.g. increase the contribution rate, or pay contributions in respect of the amount that exceeds the upper and lower limits of the calculation base of contributions?

Yes, employees may apply to the fund management entity through their employers, but they can only adjust once a year.

9. How do employees make the contributions?

Employee contributions are deducted by the employer from the employee’s monthly wages and transferred to the fund management entity.

10. What should the employee do if he or she finds out that the employer has not paid contributions?

The employee may first reflect the situation of default contributions to the employer and ask the employer to rectify it. If the employer still refuses to pay, the employee may fill out a complaint form and submit the required documents to the Social Security Fund for its follow-up action.

11. If the employer has a joint provident fund scheme, do employees have to participate in the scheme? Or is it up to the employee to decide whether to participate or not?

At the current non-mandatory stage, employees can decide whether to participate or not. If the employee chooses not to participate, the employer does not need to make contributions. The employee needs to submit a Declaration of Non-Participation to the employer, but without prejudice to the employee’s right to opt in again in the future.

12. If an employee works for two companies at the same time, can he or she pay contributions to only one scheme while the two employers each pay the employer’s contributions?

The principle of a joint provident fund scheme is that employer and employee make contributions together. At the current non-mandatory stage, employees can decide whether to participate or not. Once decided to participate in the joint provident fund scheme of two employers, the employee must pay contributions to the two schemes separately.

13. Can an employee request to suspend contributions to the joint provident fund scheme based on his or her personal actual situation?

No, if the employer applies to the Social Security Fund for suspending contributions due to major economic reasons and the application is granted, the employee may also choose to apply for suspension of contributions. The period during which both parties suspend contributions will not be counted towards the contribution time.

14. How are the upper and lower limits of the calculation base of contributions for the joint provident fund scheme set?

The upper limit of the calculation base of contributions is currently 33,280 patacas. The employer and employee can be exempted from paying contributions in respect of the excess amount. The lower limit for the calculation base of contributions is 7,007 patacas. If the employee’s basic wage is less than the lower limit, the employee can be exempted from paying contributions, but the employer is still required to make contributions. However, in respect of the excess amount, the law allows employers and employees to jointly or separately make contributions. (The lower and upper limits for the calculation base of contributions are linked to the “Employee’s Minimum Wage”. For details, please refer to the “Contents of Joint Provident Fund Scheme”).

Individual Provident Fund Scheme

1. What are the eligibility criteria for participating in an individual provident fund scheme? Is it required to be in the Macao SAR for at least 183 days in the preceding calendar year?

Residents of the Macao SAR who have attained the age of 18, or who are under 18 but have enrolled in the Social Security System may set up an individual provident fund scheme.

2. Can account owners participate in individual provident fund schemes of multiple fund management entities at the same time?

Yes, but the account owner can only set up one individual provident fund scheme with each fund management entity.

3. If the employer does not participate in the non-mandatory central provident fund, can the employee participate in an individual provident fund scheme?

Yes.

4. Can an employee participate in a joint provident fund scheme and an individual provident fund scheme at the same time?

Yes.

5. Can a personal contribution plan of the private pension system (e.g. the private pension plan that individuals participate in an insurance company in their personal capacity) be interfaced with an individual provident fund scheme?

No.

6. Will there be any penalties for individual provident fund scheme’s contributors who default or pay contributions late?

The non-mandatory central provident fund requires long-term savings and rollover to play the role of old-age security. Therefore, account owners need to make regular and continuous contributions to fully benefit from it. In order to encourage account owners to actively participate in the system, the current non-mandatory central provident fund law does not provide penalties for non-payment or late payment of contributions to the individual provident fund scheme. However, the account owner may check with the chosen fund management entity whether there will be a charge for insufficient contributions or termination of contributions to the individual provident fund scheme.

7. Can I pay contributions for one year in advance at one time?

No, the contributions to the individual provident fund scheme should be paid on a monthly basis, and there is a minimum contribution amount and a maximum contribution amount, which are currently 500 and 3,300 patacas respectively.

8. If within the prescribed upper and lower limits of contributions, can the monthly contribution amount of the individual provident fund scheme be increased or decreased according to one’s own contribution ability?

Yes, the account owner shall notify the fund management entity in writing, and it will take effect in the month following the notification date. The minimum contribution amount is currently 500 patacas, and the adjustment must be in an integral multiple of 100 patacas, and the maximum contribution amount is 3,300 patacas.

9. Can I stop contributions after setting up an individual provident fund scheme? Can all the funds be withdrawn after stopping contributions?

The account owner must notify the fund management entity to stop contributions, but attention should be paid to whether the fund management entity shall impose additional charges or restrictions on termination of contributions. Account owners who satisfy the eligibility criteria for fund withdrawal can withdraw all or part of the funds in the individual account. (For details, please refer to the “Withdrawal of Funds”.)

Transfer of Funds of the Non-Mandatory Central Provident Fund System

1. According to the law, the funds in the sub-accounts can be transferred to each other. Are there any rules to be observed?

The transfer rules are as follows:
(1) All balances in the sub-account must be transferred;
(2) The funds of the government-managed sub-account can only be transferred in and transferred out once a year (but it does not affect the transfer of funds from multiple sub-accounts to a government-managed sub-account within the same application), which is subject to the Social Security Fund’s approval;
(3) There is no limit on the number of transfers of the contribution sub-account and preserved sub-account, just notify the fund management entity;
(4) Only when the employment relationship terminates or the contributions to the individual provident fund scheme are stopped, the funds in the contribution sub-account can be transferred to a preserved sub-account or a government managed sub-account.

2. Can the balance of the government-managed sub-account be transferred to the contribution sub-account and preserved sub-account for investment appreciation?

Yes.

3. How to apply for transfer of funds out of the government-managed sub-account?

The account owner may log in to the "Macao One Account" mobile app / online platform / "Online Services" of the Social Security Fund’s website or self-service machines (see list for details).

If necessary, he or she may also go to the Social Security Fund with the relevant documents to go through the formalities in person or through a representative. (For details, please refer to "To Transfer Funds out of the Government-Managed Sub-Account”)

4. How to log in to the "Online Services" of the Social Security Fund’s website to apply for the transfer of funds out of/to the government-managed sub-account?

The account owner must use the password of "Macao One Account" to log in to the "Online Services". For more information on application for the "Macao One Account", please visit https://www.gov.mo/pt/servicos/ps-1047/, or check with the Public Administration and Civil Service Bureau.

5. How to log in to the "Macao One Account" mobile app to apply for the transfer of funds out of/to the government-managed sub-account?

The account owner may download the "Macao One Account" mobile app and log in with the password of "Macao One Account". For more information on applying for the "Macao One Account", please visit https://www.gov.mo/pt/servicos/ps-1047/, or check with the Public Administration and Civil Service Bureau.

6. Why am I unable to use the "Online Services"/"Macao One Account" mobile app/self-service machine to apply for the transfer of funds out of the government-managed sub-account?

The premise of using the above channels to apply for the transfer of funds is that the account owner has already participated in a provident fund scheme, and the fund management entity has already provided relevant information to the Social Security Fund. If the provident fund scheme has just been approved but no information has yet been sent to the Social Security Fund, the account owner may not be able to use the above channels to apply for the transfer of funds immediately.

In addition, people who are under the following circumstances cannot apply to transfer the funds out of the government-managed sub-account:
(1) There is already an application (for the transfer of funds out of/to government-managed sub-account/for fund withdrawal) pending for approval;
(2) One application for transferring funds out of the government-managed sub-account has already been approved this year;
(3) Not being the individual account owner of the non-mandatory central provident fund;
(4) The balance of the government-managed sub-account balance is zero;
(5) No valid contribution sub-account/preserved sub-account.

7. Is it required to upload a scanned copy of the ID card when using the "Online Services"/"Macao One Account" mobile app/self-service machine to apply for the transfer of funds out of/to the government-managed sub-account?

Not required.

8. Assuming that the current balance of the government-managed sub-account is 56,000 patacas, can I apply for a one-off transfer of all the funds to the individual provident fund scheme? Am I subject to the maximum monthly contribution amount of 3,300 patacas?

Yes, the situation mentioned in the question belongs to the transfer of funds in the sub-accounts, which is not subject to the maximum monthly contribution amount of 3,300 patacas, but all the balance in the government-managed sub-account must be transferred. It should also be noted that the government-managed sub-account can only be transferred in and transferred out once a year.

9. Can I transfer funds from the contribution sub-account and preserved sub-account to the government-managed sub-account?

Yes.

10. How to apply to transfer funds to the government-managed sub-account?

The account owner may log in to the “Macao One Account” mobile app / online platform or “Online Services” of the Social Security Fund’s website.

If necessary, he or she may also go to the Social Security Fund with the relevant documents to go through the formalities in person or through a representative. (For details, please refer to “To Transfer Funds to the Government-Managed Sub-Account”)

11. How can the accrued benefits in the contribution sub-account be processed when the employee leaves?

The employee may choose to process the benefits of his or her contribution sub-accounts using any of the following methods:
(1) Keep the benefits in the preserved sub-account opened by the original fund management entity and let the funds continue to roll over (this is the default option when the employee does not specify the processing method); or
(2) Transfer the benefits to the government-managed sub-account; or
(3) If there are other contribution sub-accounts, the benefits can be transferred to other contribution sub-accounts; or
(4) Transfer the benefits to the preserved sub-account opened by other fund management entities of the non-mandatory central provident fund for integration.

If the employee has not applied to transfer the funds from the contribution sub-account to the other sub-accounts within 3 months from the month following the termination of labour relationship, the original fund management entity will open a preserved sub-account for the employee within 5 working days following the expiry of the above-mentioned period in order to record the funds transferred from the contribution sub-account.

12. When an employee changes jobs, can the balance in the original contribution sub-account be directly transferred to the new contribution sub-account if the employee has opened a new contribution sub-account with the fund management entity chosen by the new employer?

Yes.

13. If an employee leaves the job after participating in a joint provident fund scheme through interface, can the benefits of the private pension plan be transferred to the non-mandatory central provident fund?

Yes, but it must be within 3 months from the date when the account owner obtains the benefits of the private pension plan. The employee must fill out a special form and apply to the Social Security Fund for transferring all or part of the benefits to his or her individual account.

Objection Statement of the Non-Mandatory Central Provident Fund System

1. Does an account owner of the non-mandatory central provident fund system need to meet certain requirements in order to be qualified for the incentive basic funds? Whether an account owner is entitled to the incentive basic funds once only?

An account owner who is still alive on 1 January of the year of fund distribution and who simultaneously met the following requirements during the preceding calendar year shall be entitled to the incentive basic funds:

(1) He or she was a permanent resident of the Macao Special Administrative Region;
(2) He or she attained 22 years of age;
(3) He or she stayed in the Macao Special Administrative Region for at least 183 days.

Each account owner of the non-mandatory central provident fund system will be entitled to the incentive basic funds once only.

2. If an account owner stays in Macao for less than 183 days during a given calendar year, will he or she be entitled to the incentive basic funds?

The period during which an account owner was outside the Macao SAR for the following reasons shall be considered as the time staying in Macao, but he or she is required to provide sufficient evidence to the Social Security Fund:

(1) He or she attended higher education courses recognized by the local competent authority;
(2) He or she was hospitalized;
(3) He or she resided in mainland China and:
(a) attained 65 years of age;
(b) was under 65 years of age, due to health reason, in particular, the need for non-hospital nursing, palliative therapy, rehabilitation services or family care;
(4) He or she provided work outside the Macao Special Administrative Region for an employer registered with the Social Security Fund;
(5) He or she worked outside the Macao SAR in order to bear the main living expenses of his or her spouse, any degree of lineal consanguinity or affinity who resided in the Macao SAR;
(6) He or she performed official duties, performed duties for the Macao SAR or discharged other official duties;
(7) The Chief Executive may, after obtaining advice from the Administrative Committee of the Social Security Fund, allow an account owner’s period of stay outside the Macao Special Administrative Region for humanitarian or other properly explained reasons to be considered as the time staying in Macao.

3. If the government does not have a special allocation from budget surplus in a certain year, will there still be incentive basic funds?

If an account owner of the non-mandatory central provident fund system has never been allocated the incentive basic funds, provided that he or she meets the requirements for the incentive basic funds in any calendar year, he or she will be entitled to receive a one-time incentive basic fund.

4. How can I be entitled to the special allocation from budget surplus?

An account owner who is still alive on 1 January of the year of announcement about the special allocation from budget surplus and who simultaneously met the following requirements during the preceding calendar year shall be entitled to the special allocation from budget surplus:

5. How to calculate the number of days a person stays in the Macao Special Administrative Region?

The number of days an account owner stays in Macao is basically based on the entry/exit records provided by the Public Security Police Force. As long as an account owner has been in Macao within one day, he or she will be counted as staying in Macao for that day.

6. If an account owner stays in Macao for less than 183 days during a given calendar year, will he or she be entitled to the special allocation from budget surplus?

Application for Withdrawal of Funds from the Non-Mandatory Central Provident Fund System

1. When can I withdraw funds from my non-mandatory central provident fund system individual account?

Under normal circumstances, an account owner may apply to withdraw all or part of the balance from his or her individual account when he or she turns 65 years old. For an account owner who is under 65 years of age but meets the requirements of the law, he or she may apply for early withdrawal of the funds. For more details, please refer to the Withdrawal of Funds on the Social Security Fund’s website. In addition, the account owner may withdraw once a year for all or part of the funds from his or her individual account.

2. If a joint provident fund scheme is interfaced with a private pension plan, when can the account owner apply to withdraw the contributions accumulated before and after the interface?

In terms of the accumulated funds of the private pension plan, the account owner may withdraw the funds according to the conditions laid down in the plan; and for the accumulated funds of the joint provident fund scheme, the account owner may, under normal circumstances, apply for fund withdrawal when he or she turns 65 years old.

3. If a labour relationship has not been terminated and the employee is entitled to all of the employer’s contributions after contributing for 10 years, can the employee apply to withdraw the contribution balance of his or her employer when he or she turns 65 years old?

No. Prior to termination of a labour relationship, the contributions paid by employer and employee are recorded separately. Even if the account owner meets the requirements for fund withdrawal, the employee can only withdraw his or her own contribution balance.

4. If I apply for early withdrawal of funds on the grounds that “I have attained 60 years of age and am not engaged in any paid activities”, can I use this reason to apply for fund withdrawal once a year?

To withdraw funds on the grounds of “attaining 60 years of age and not engaging in any paid activities”, you may use this reason to apply for early withdrawal of funds but only once between the age of 60 and 65.

5. How can an account owner aged 65 and older apply to withdraw funds from his or her individual account?

The account owner may submit the application, either in person or through a representative, to Social Security Fund’s St. Lazarus Parish Field Office, Macao Government Services Centre, Macao Government Services Centre in Islands, or the Municipal Affairs Bureau’s Public Services Centres. He or she may also use a self-service machine, or log in to the “Macao One Account” mobile app / online platform to apply for fund withdrawal.

6. Can I apply for withdrawal of funds from multiple sub-accounts at the same time in the same application?

Yes. However, since the fund withdrawal involves more than one sub-account, you may need to indicate in the dedicated form the order of settlement of each sub-account.

7. Can all people use the self-service to apply for fund withdrawal?

The following eligible individual account owners may apply for fund withdrawal through the self-service machine:

(1) An account owner who attains 65 years of age and is currently receiving old-age pension/disability pension from the Social Security Fund, or subsidy for senior citizens from the Social Welfare Bureau;
(2) An account owner, under age 65, who has been receiving disability subsidy from the Social Security Fund for more than one year;
(3) An account owner who is currently receiving special disability subsidy from the Social Welfare Bureau.

8. Are there any rules relating to the withdrawal amount?

The account owner who meets the eligibility for fund withdrawal can apply for withdrawal of all or part of the funds from his or her individual account. If the application is filed for the following reasons, the maximum amount that can be withdrawn is the amount of government funds distributed to the account owner over the years but has not been withdrawn. This amount does not include the contingent revenue obtained over the years.
(1) There is a need for him or her to bear huge medical expenses due to the serious injury or illness of his or her spouse, any degree of lineal consanguinity or affinity;
(2) He or she has been receiving disability pension payable under Law No. 4/2010 for more than one year;
(3) He or she is currently receiving special disability subsidy payable under Law No. 9/2011 (Disability Allowance and Free Health Care Service System).

9. How to process the money in the account owner’s individual account if he or she dies?

If an account owner dies, the final balance of his or her individual account shall be included in his or her estate, and the legal heir(s) of the account owner can apply to withdraw the deceased account owner’s individual account balance, but it is required to submit a Notarial Certificate Confirming the Qualification of Heir or a proof issued by the court. The “Notarial Certificate Confirming the Qualification of Heir” can be applied at the following places:

- First Public Notary Office:
Rua Nova da Areia Preta, n.º 52, 2.º andar, Macao Government Services Centre, Macau
Telephone number: 2857 4258

- Second Public Notary Office:
Rua do Campo, n.º 162, 3.º andar, Public Administration Building, Macau
Telephone number: 2855 4460

- Island Public Notary Office:
Rua de Coimbra, n.º 225, Edifício Nova Park, 3.º andar, Macao Government Services Centre in Islands, Taipa, Macau
Telephone number: 2882 7504

Registration for Automatic Withdrawal of Funds

1. Why people under age 65 cannot register for Automatic Withdrawal of Funds?

Under Law No. 7/2017 (Non-Mandatory Central Provident Fund System), account owners must be at least age 65 to withdraw funds. The reason given by account owners under age 65 to apply for early withdrawal of funds must be supported with documents and so they must go through the formalities of fund withdrawal every year.

2. Can an account owner specify the payment amount for the Registration for Automatic Withdrawal of Funds?

Registration for Automatic Withdrawal of Funds is a convenient measure. For account owners aged 65 or older who are eligible for payment, the special allocation from budget surplus for the year together with the contingent revenue will be paid in the year of fund allocation. There is no need to specify the payment amount.

3. When will the funds be paid after registering for Automatic Withdrawal of Funds?

From the year following the year of registration, the funds will be paid in late August of the year of fund allocation provided that the account owner meets all the requirements for payment. The requirements for payment are as follows:
(1) The person must be included in the list of special allocation from budget surplus announced in mid-June of the year concerned
(2) The person must have provided the proof of life for the year by June 30^th of the year concerned
(3) The person has not applied for withdrawal of funds from his/her non-mandatory central provident fund system individual account between January 1^st and June 30^th of the year concerned.

4. One of the requirements for payment under the Registration for Automatic Withdrawal of Funds is that the person must be included in the list of special allocation from budget surplus announced in mid-June of the year. And so, does it include the account owners who are put on the list again after submitting the objection statement?

No, it does not.

5. If you will turn 65 in the coming month, can you register in advance for Automatic Withdrawal of Funds?

You must wait until you are 65 before you can register.

6. Can I specify the bank account for receiving the payment when I register for Automatic Withdrawal of Funds?

No, you cannot. The money will be deposited into the bank account where the account owner is receiving old-age or disability pension.

7. What should I do if the account owner dies after registering for Automatic Withdrawal of Funds?

You only need to report the account owner’s death to the Social Security Fund. If there is still a balance in his/her individual account, you are still required to go to the Social Security Fund to apply for fund withdrawal by the heir in accordance with the relevant regulations on inheritance.

8. Can I cancel the Registration for Automatic Withdrawal of Funds after applying?

Yes, you can but only the cancellation request submitted before the end of June will take effect in the year concerned.

Income Distribution of Government-Managed Sub-Account

1. Is there a procedure for distributing income every year?

The income settlement date for each year is 31 December of the year, and the income will be transferred to the government-managed sub-account of the individual account, in the month following the income settlement date. The amount of income may vary according to the daily government-managed sub-account balance during the income calculation period, and the rate of return, etc.

2. If an account owner has made withdrawals on a certain day in the month, will the said month be considered as a whole month for the purpose of calculating income?

No. The amount of income distributed is calculated based on the daily balance of the government-managed sub-account during the income calculation period. For more information about the calculation of income, please refer to the Examples of Income Calculation on the Social Security Fund’s website.

3. In case of an account owner's death, will his or her heir receive an income if the heir has applied to withdraw all the balance in the account owner’s individual account in November?

According to the law, if an account owner dies, his or her individual account shall be cancelled after settlement. The account owner’s individual account must remain in effect on the income settlement date (31^st December) in order to be eligible for the distributed income. Therefore, if the heir of the estate applies for withdrawal of the account balance in November, the individual account will then be cancelled before the income settlement date, and no income will be distributed to the heir.