Frequently Asked Questions
| Objection Statement of the Non-Mandatory Central Provident Fund System |
| 1. What are the ways to check whether I am included in the fund allocation list 2024? |
| Members of the public can check the list via the “Macao One Account”, self-service machine, 24-hour interactive voice response hotline, Social Security Fund’s website and a service point of the Social Security Fund. |
| 2. What are the channels for filing an objection statement about the Non-Mandatory Central Provident Fund for 2024? |
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| 3. 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. |
| 4. 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. |
| 5. 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. |
| 6. 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: (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. |
| 7. 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. |
| Application for Withdrawal of Funds from the Non-Mandatory Central Provident Fund System | |||||||||||||||
| 1. What are the fund withdrawal and payment arrangements for persons eligible for fund withdrawal in 2024? | |||||||||||||||
| The fund withdrawal and payment arrangements for 2024 are as follows: | |||||||||||||||
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| 2. 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. | |||||||||||||||
| 3. Starting August, through which channels can those eligible for fund withdrawal apply for withdrawal of funds? | |||||||||||||||
Note 1: | |||||||||||||||
| 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. 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. | |||||||||||||||
| 6. 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). | |||||||||||||||
| 7. 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: | |||||||||||||||
| Registration for Automatic Withdrawal of Funds |
| 1. How to check my registration for automatic withdrawal and the payment for 2024? |
| Members of the public can check whether they satisfy the eligibility requirements for automatic payment in 2024 via the "Macao One Account" and the Social Security Fund’s website. Senior citizens who satisfy the eligibility requirements for automatic payment need not go through any procedures. The funds will be automatically deposited on 25 September in the bank account that is currently receiving old-age or disability pension. |
| 2. What eligibility requirements must be met to receive the automatic payment? |
| Starting from the year that immediately follows the year of registration, if the account owner meets all three requirements below in the calendar year of fund allocation, the special allocation from budget surplus for the year as well as the income will be directly deposited in the bank account that he/she receives old-age or disability pension from the Social Security Fund. 1. The person must have been included in the list of special allocation from budget surplus of the year (exclude re-listing through filing an objection statement) 2. The person must have provided the proof of life for the year 3. No application must have been made in the year to withdraw funds from the person’s individual account of the Central Provident Fund |
| 3. 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. |
| 4. 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. |
| 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. |