Private Pension Fund

The Macao Government promulgated Decree-Law No. 6/99/M (Private Pension Funds) on 8 February 1999, encouraging employers to establish a pension fund system and regulating the management of pension funds.

An Individual Contribution Private Pension Plan refers to a plan into which an employee who terminates participation in a joint retirement plan due to retirement or departure from employment may transfer the relevant funds, and where that employee is the owner of the individual retirement plan.

A Joint Contribution Private Pension Plan refers to a defined contribution retirement plan established by an employer with a fund management entity in accordance with Decree-Law no. 6/99/M, and made available for employee participation. It is typically established by a single corporate employer exclusively for its own employees. Funds are contributed by the employer alone or jointly by the employer and employees. Upon departure from employment, withdrawal or transfer is generally restricted. It is a type of private pension classified as a corporate employee benefit.