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Non-mandatory Central
Provident Fund System

Brief Introduction

The second-tier non-mandatory central provident fund system aims to strengthen the social protection for the residents of the Macao SAR in their old age and to complement the existing social security system.  Law No. 7/2017 (Non-Mandatory Central Provident Fund System) was approved in detail by the General Assembly of the Legislative Assembly on 31 May 2017 and came into force on 1 January 2018.

From 1 September 2019, the “Minimum Wage for Cleaning and Security Employees in the Property Management Services” has increased to 6,656 patacas. Under the linkage mechanism, the upper and lower limits for the calculation base of contributions of the joint provident fund scheme, and the ceiling for the contributions of the individual provident fund scheme has been adjusted accordingly from 1 September 2019 as follows:

Joint Provident Fund Scheme From 1 September 2019
Upper limit for the calculation base of contributions 33,280 patacas
Lower limit for the calculation base of contributions 7,007 patacas
Individual Provident Fund Scheme  
Maximum monthly contributions 3,300 patacas
Minimum monthly contributions Remain at 500 patacas

Click here to download the full text of the law on  the “Non-Mandatory Central Provident Fund System”(Only in Portuguese version) For the English version, please click here to download the law pamphlet of the "Non-Mandatory Central Provident Fund System".

Click here to download the “Supplementary Provisions Relating to the Non-Mandatory Central Provident Fund System”(Only in Portuguese version) For the English version, please click here to download the law pamphlet of the "Supplementary Provisions Relating to the Non-Mandatory Central Provident Fund System".

• Transitional provisions

Law No. 14/2012 (Provident Fund Individual Accounts) shall be abolished on 1 January 2018 and shall automatically produce the following effects:
1. The provident fund individual accounts shall be converted into the individual accounts of non-mandatory central provident fund system;
2. The provident fund individual account owners shall become the individual account owners of non-mandatory central provident fund system;
3. The balances in the provident fund individual accounts shall be transferred into the government-managed sub-accounts of the individual account owners of non-mandatory central provident fund system;
4. The incentive basic funds paid into the provident fund individual accounts shall be deemed to be paid into the individual accounts of non-mandatory central provident fund system.