Starting today, the Social Security Fund (abbreviated to FSS in Macao) began accepting fund withdrawal applications for Special Allocation from Budget Surplus 2024 for the Non-Mandatory Central Provident Fund. Senior citizens registered for automatic withdrawal and meet the eligibility requirements for automatic payment need not go through any formalities. Other people eligible for fund withdrawal can apply through channels such as the "Macao One Account".
More than 70,000 senior citizens registered for automatic withdrawal last year or before, and meet the eligibility requirements for automatic payment need not go through any formalities. The money will be automatically deposited in the bank accounts that they receive old-age or disability pension on 25 September. Other people not entitled to automatic payment if they are senior citizens who are age 65 and above, under age 65 who are currently receiving disability pension for more than one year, or currently receiving Special Disability Subsidy, if they apply for fund withdrawal through the "Macao One Account" or the self-service machine in August, the money will also be deposited in their bank accounts on 25 September. For those who submit a fund withdrawal application on paper in August, or file their applications in September, the money will be deposited in their designated bank accounts as early as 23 October. By law, each person can withdraw funds only once per year.
The FSS reminds those who have not registered for automatic withdrawal that they can register at the time they apply for fund withdrawal this year. From the next year, if there is a Special Allocation from Budget Surplus and they meet the eligibility requirements for automatic payment, they need not go through any formalities and the money will be automatically deposited in the bank accounts that they receive old-age or disability pension, which is time-saving and convenient. Residents may check at any time whether they have registered for automatic withdrawal and whether they meet the eligibility requirements for automatic payment for the current year through the "Macao One Account" and the dedicated webpage of the FSS’s website.
For enquiries about the formalities, you may visit the FSS’s website at www.fss.gov.mo, or call 2853 2850 during office hours.
