FSS Proposes an Increase in Various Benefits and Allowances for the Coming Year

The Social Security Fund (abbreviated to FSS in Macao) today (22nd November) presented a proposal to the Standing Committee for the Coordination of Social Affairs for an increase in the social security benefits and allowances in the coming year. The proposal was unanimously agreed by the employer and employee representatives of the Committee.

Un Hoi Cheng, Vice-President of the FSS Administrative Committee, said that the last increase in social security benefits was in January 2019. Considering that there has been a certain increase in general prices in the past year and the Social Welfare Bureau has also proposed to raise the Minimum Subsistence Index for next year in accordance with the established mechanism, the FSS proposes to increase the old-age pension and other benefits in order to provide residents with appropriate basic living security under the policy that old-age pension and subsidy for senior citizens not lower than the Minimum Subsistence Index. After the increase, it is estimated that the total expenditure for benefit payment of the coming year will be approximately 5.2 billion patacas, of which old-age pension account for 4.6 billion patacas (about 88.5%) and the additional budget for the increase will be about 150 million patacas.

For enquiries, please call 2853 2850 during office hours, or visit the website of the FSS at www.fss.gov.mo.