The Social Security Fund (abbreviated to FSS in Macao) said that the FSS had received more than 56,000 applications for the withdrawal of funds of the non-mandatory central provident fund system’s individual accounts as of 15 October. Of which 22,498 applications submitted by senior citizens aged 75 or older, individuals receiving disability pension from the FSS for more than one year, and those currently receiving special disability subsidy from the Social Welfare Bureau (SWB) have been approved. The funds will be transferred tomorrow (23 October), and the FSS has already begun to notify the applicants by mail or mobile text message (SMS).
According to the relevant laws, account owners who are eligible for fund withdrawal can apply to withdraw funds of the non-mandatory central provident fund system’s individual accounts once a year. Like last year, this year the FSS also accepted the applications in stages according to the age group. As of October 15, most applications submitted by senior citizens aged 75 or older, individuals receiving disability pension from the FSS for more than one year, and those currently receiving special disability subsidy from the SWB have been approved, and the funds will be transferred tomorrow (23 October) to the bank accounts designated by 22,498 eligible applicants.
As for the remaining cases where the approval process have not yet been completed because the application forms are not properly completed or additional documents are required, the FSS will get them processed as soon as possible after all the required documents are received. Senior citizens between age 65 and 74 who have submitted the applications in the second phase and are approved will receive the funds on 23 November.
For information on the non-mandatory central provident fund’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.