Secretary for Economy and Finance, Lei Wai Nong, confirmed at the Legislative Assembly (AL) that the absence of funds injected into eligible residents’ Provident Fund accounts over the past three years will not be compensated.
Lei reiterated that under law, the government can only utilize surplus funds to distribute MOP7,000 to each permanent resident, clarifying that this distribution is not a mandatory annual payout. As such, there is no basis to compensate for the shortfall, as the government has fulfilled its obligations under the law and is not authorized to make a special distribution without a law that supports the measure.
The Secretary remarked that during the three-year period, the government provided special support to the population. Such support measures were of a much higher value than the funds usually injected into the Fund accounts.
Responding to calls for more support and benefits, Lei previously stated that the government has already allocated approximately 30% of the 2024 annual budget to benefits, tax exemptions, and other welfare measures. RM
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