The Social Security Fund (abbreviated to FSS in Macao) will make payments tomorrow (23 November) to 34,745 applicants of the second phase who are eligible for the withdrawal of funds of the non-mandatory central provident fund system’s individual accounts, and it has started to notify the individuals above of the outcome of applications by mail or by mobile text messages (SMS). 

According to the relevant law, the non-mandatory central provident fund system’s individual account owners who meet the requirements for withdrawal of funds can withdraw funds from their individual accounts once a year.  This year, the FSS continued to accept applications in stages according to age group, and people whose applications are approved in the first phase have already been paid last month.  The processing of the fund withdrawal applications for the second phase of senior citizens aged 65 to 74 has been basically completed.  The approved funds will be transferred to the bank accounts designated by the applicants tomorrow (23 November).  For the remaining cases that are still being processed because the application forms are not properly completed, or additional documents are required, the FSS will process them as soon as possible after all the required documents are received. 

In addition, according to the relevant law, the prescription of the account owner’s right to the allocation of funds is three years, counting from 31 December of the year of fund allocation.  Therefore, the prescription of the right to the allocation of funds for the year 2015 will expire on 31 December this year.  Account owners who assert their right to the funds of 2015 after the deadline will lose the right to the allocation of related funds.  

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