361,974 included on Social Security Fund list

The Social Security Fund (FSS) announced the name list of the special allocation of funds from the budget surplus 2017 for the Provident Fund Individual Accounts yesterday. According to the FSS, this year, a total of 361,974 people are included on the list and 133,207 people are not. To be included on the name list of the special allocation of funds from budget surplus, the person must simultaneously fulfill several requirements, including having stayed in the MSAR for at least 183 days in 2016.

No formalities are required for the individual accounts of those who are already on the list to be allocated MOP7,000. For individuals who are entitled to the allocation of funds for the first time, they will also be allocated the incentive basic fund of MOP10,000. For individuals who are not included on the list, they will receive a notice if they reach 65 years of age or if they are not included on the list for the first time. The FSS informed that individuals who are not included on the list can file an objection statement.

In addition, there are nearly 60,000 seniors qualified to apply for withdrawal this year. Like last year, the FSS will accept the applications for withdrawal in batches. Seniors aged 75 or older, beneficiaries who have been receiving disability pension from the FSS for more than one year and beneficiaries who are currently receiving special disability subsidy from the SWB, will be given priority to submit their applications in August. Seniors aged between 65 and 74 can submit their applications in September.