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Article 3 (Pension funds)

Pension funds are autonomous assets solely for the purpose of financing one or more pension plans.

Article 4 (Members of pension plans)

For the purposes of this law, the following individuals and corporate entities shall be regarded as members of pension plans:

  • a)

    Associates - corporate entities whose pension plans are financed by pension funds;

  • b)

    Participants - individuals whose rights enshrined in the pension plans are defined according to personal and professional circumstances, regardless of whether or not they contribute to the respective financing;

  • c)

    Contributors - individuals or corporate entities who contribute towards the financing of pension plans;

  • d)

    Beneficiaries - individuals entitled to the pecuniary payments provided for in the pension plans, regardless of whether or not they have been participants.

Article 5 (Pension fund managers and deposit of assets)

  • 1.

    Pension funds shall be managed by insurers authorised to transact life insurance in the Territory of Macau, or by companies set up specifically to manage pension funds.

  • 2.

    The provisions of Decree-Law no 27/97/M of 30 June relating to life insurance companies shall apply to the constitution, establishment and operation of fund management companies.

3. The assets pertaining to a pension fund shall be deposited with one or more depositories according to the provisions of this law.

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