Each permanent resident of Macau has about MOP100,814 (US$12,567) in their non-mandatory Central Provident Fund account, according to the manager of the Social Security Fund.
In a media briefing on Wednesday, Chan Pou Wan, vice-president of the fund, said the government had injected MOP31.8 billion into the government-initiated provident fund since it was set up in 2010.
Each account holder has received MOP84,000 and has earned about MOP16,814 in interest, she pointed out.
Under the city’s two-tier social security mechanism, eligible senior citizens are entitled to 13 monthly payments per year, with each payment amounting to MOP3,740.
In addition, every permanent resident has a non-mandatory central provident fund account. The Macao government would make a cash injection into this account if there was a budget surplus.
As many as 389,346 residents are eligible for the 2024 payment of MOP7,000.
Meanwhile, 9,178 residents who meet the eligibility criteria for the first time this year are eligible for a one-time incentive payment of MOP10,000.
A total of MOP 2.8 billion has been earmarked for 2024.
