Joint Provident Fund Scheme

Joint Provident Fund Scheme is a retirement plan set up by the Employer for their employees.

Monthly contributions are made by both the Employer and each of the Employee who join the Scheme. The monthly contributions will be used to subscribe the pension funds selected by the Employer/Employees. As the monthly contributions are invested into units of the pension funds, the balance of the retirement account of the Employee will change along with the change in the unit price of the pension funds.

At the age of 65 or when the Employee fulfills the criteria in Article 19 in Law No. 7/2017, withdrawal from the retirement account can be made.

Who can set up?


• Employer.

Who can join?


• Employees, who are Macao residents and reached the age of 18, can voluntarily join the Scheme.

• If the Employee has not reached the age of 18, he/she has to be enrolled in the social security system in accordance with Article 10(1)(a) of Law No. 4/2010.

How to set up?


• Rules of the Scheme should comply with Law No. 7/2017.

• We can help to design a retirement plan suitable to the Company and in compliance with Law No. 7/2017.

• We can help to prepare the documents for application at Social Security Fund.

What are the costs?


• The Employer has to make monthly contributions for each eligible Employee. The minimum contribution from the Employer is 5% of the Basic Wage of the Employee.

• Management fee charged by us will be collected from the Pension Fund directly. The value of each unit price shall already reflect such charge. Currently, the management fee is 1% p.a.

What are the benefits?


• Help Employees to prepare for retirement needs.

• Investment in pension funds can help capital appreciation.

• Increase Employee’s loyalty to the company.

• Stabilize Employees’ turnover.

• Decrease training cost.

• Employees' tax benefit as amounts received from the scheme are exempted of taxation.

What are the pension funds that can be selected?


• We have five pension funds for selection, with different risk levels. Please refer to “Pension Funds to select” for details.