Provident fund yield now 0.17 pct, govt says

2014/9/12

From:Macau Buisness

The yield on the provident fund, from interest on fixed bank deposits, is now 0.17 percent, or an annual rate of interest of 2.03 percent, the managers of the Social Security Fund say.

The provident fund is meant chiefly to provide for its account holders on retirement.

The government set up the provident fund in 2010 and has since put MOP35,000 (US$4,384) into each Macau permanent resident’s account.

The yields on the provident fund from 2010 to 2013 were between 0.12 percent and 0.24 percent.

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