Macau (MNA) – The Executive Council has approved a new draft law to increase the minimum salary points for pensions in order to raise civil servant’s pensions for the first time in 25 years.
According to government spokesperson Leong Vai Tac during a press conference held today, the increase in pensions will add approximately MOP1 million (US$124,273) annually.
The minimum salary points for pensions has been increased from 70 points to 90 points, while those for civil servants has been increased from 35 points to 60 points.
This will affect low-income or retired public servants.
Macau News Agency (MNA) reached out to Fundo de Pensões regarding how pension points are calculated but had not received a reply at the time of writing.