Gov’t projects MOP9 billion cumulative deficit through 2031

The government projects that the local pension system’s cumulative funding shortfall will reach MOP8.986 billion between 2027 and 2031. The forecast was addressed yesterday at a meeting of the Legislative Assembly First Standing Committee, which continued reviewing the details of the bill related to the “Consolidation of the Financial Resources of the Pension Fund.” The meeting, which was attended by the Secretary for Administration and Justice, Wong Sio Chak, heard that at the end of June, the fund had some 6,465 participating members, with an average age of 51.9 years and an average of 26.4 years of service. By the […]

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