MACAU PENSION FAQ

What are my investment options?

It depends on the arrangement agreed between your employer and AIA.  Please contact the member hotline at (853) 0800 272 for details.

Can I allocate my account according to my own investment needs?

Yes, but the means of placing a fund switching request are subject to the rules of the scheme you participate in. Please contact the member hotline at (853) 0800 272 for details.

How do I nominate my beneficiary?

Complete the "Notice of Nomination/ Change of Beneficiary" form and return it to your employer for forwarding to the AIA International Limited Macau Branch.

May I nominate more than one beneficiary?

Yes, you may nominate up to 3 beneficiaries.

May I nominate a beneficiary below age 18?

When benefits are paid, we must verify the identity of the beneficiary and pay the appropriate person, as determined by the AIA International Limited Macau Branch. If the beneficiary is under 18, the benefits will be paid to their legal guardian.

Are contributions made by my employer fully vested to me?

It depends on the reason for the cessation of your employment and the vesting schedules determined by your employer. Please contact the member hotline at (853) 0800 272 for details.

Can I opt not to contribute?

It depends on the contribution arrangement agreed between your employer and the management company. Contact the member hotline at (853) 0800 272 for details.

Apart from regular contributions made through my employer, can I make additional voluntary contributions?

Yes. If you are working for an employer participating in AIA Macau Retirement Fund Services, you are eligible to join our Happy Retirement Personal Savings Program. Please call the member hotline at (853) 0800 272 for more information.

Are contributions I make to the scheme tax deductible?

No. Under current legislation, no tax benefit is available for employee contributions.

Are my vested benefits taxable upon termination?

Under current legislations, vested benefits are not taxable.

Is the beneficiary required to pay tax on death benefits?

No, the beneficiary is not required to pay any tax for death benefits. 

What is fund switching?

Fund switching allows you to change your existing balance investment allocation and/or future contribution investment allocation.

Is there any fee for fund switching?

No. Fund switching is provided at no charge.

How do I make a fund switching request?

You may submit a fund switching request in paper format to your employer according to the schedule arranged between them and the AIA International Limited Macau Branch. Alternatively, if your employer offers online fund switching, you may perform fund switching via My AIA.

What is the difference between changing an existing balance investment allocation and changing a future contribution investment allocation?

Changing an existing balance investment allocation means changing the investment choice of all or part of your existing investments, while leaving the investment choice of future contributions among funds unchanged.

Changing a future contribution investment allocation means changing the investment choice of future contributions, while leaving existing investments unchanged.

How often can I switch my investment funds?

If you submit a fund switching request in paper format, please refer to the schedule arranged between your employer and the AIA International Limited Macau Branch. Usually, you can make fund switching request in paper format once a year.

Alternatively, if your employer offers online fund switching, you may perform unlimited fund switching* via My AIA.

*Except the AIA Macau Retirement Fund. Participants are permitted to raise only one switch request out of this portfolio within the same scheme year.

What will happen if I place more than one fund switching request in a day?

If you place more than one fund switching request via our website in a day, the last request received before 4:00 p.m. on that business day will be considered the final one. A switching request received after 4:00 p.m. on any business day will be processed on the next business day. A reference number will be issued for each transaction.

When will my fund switching request be completed?

Fund switching requests made via My AIA and paper format will be completed in two and ten business days respectively.

How do I cancel my fund switching request?

Except for fund switching requests made via paper format, you can cancel any request through the member hotline at (853) 0800 272 or My AIA before 4:00 p.m. on a normal dealing day you have made the request. No cancellation request will be accepted after 4:00 p.m. on the day it was made.

How can I notify the AIA International Limited Macau Branch if I would like to change the beneficiary of my scheme benefits?

Complete and return the "Notice of Nomination / Change of Beneficiary" form to your employer, who will forward it to the AIA International Limited Macau Branch for processing.

How long will it take to receive my benefit cheque?

Under normal circumstances, your benefit cheque will be sent directly to your designated address in around 15 business days.

How will my benefits be paid?

Your benefits will be paid by cheque in MOP. You may choose to have your benefit cheque sent  directly to your designated address or via your employer.

If I am dismissed, will I still be able to get my benefits?

Under normal circumstances, if you are dismissed on any of the following grounds, you are only entitled to receive your own contributions with investment returns, and not those of your employer:

• Wilfully disobeying a lawful and reasonable order
• Misconducting yourself in a matter inconsistent with the due and faithful discharge of your duties
• Being guilty of fraud or dishonesty
• Being habitually neglectful in your duties
• Please contact the member hotline at (853) 0800 272 for details.

Can I retain my benefits in the scheme upon termination of employment?

Yes, you may choose to place your vested benefits in an individual personal account upon termination of employment. Learn more about "Happy Retirement Personal Savings Program".