A dispatch from the Chief Executive (CE) finally put into force, from January 1, the long-discussed increase of the contribution amount for the social welfare system, a statement from the Social Security Fund (FSS) informed.
The dispatch increased the mandatory contribution from MOP45 to MOP90 (for both long-term employees and casual workers). The new amount retains the standard contribution ratio of one-third from the employee and two-thirds from the employer.
Additionally, the same amount of MOP90 will also be adopted for the voluntary contributions.
The FSS statement informed that the payment of contributions for long-term employees and the payment of contributions from the arbitrary system will be done quarterly, in January, April, July and October with payments representing contributions from the previous quarter. This means that the first contribution of the new amount for these workers will by paid on April 2017 for the period of January to March 2017.
The payment of contributions from casual workers will be made on a monthly basis starting from February 2017, for the previous month (January).
No Comments