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Article 6 (Supervision)

  • 1.

    The Monetary and Foreign Exchange Authority of Macau, hereinafter referred to as AMCM, is empowered to supervise the pension plans, including pension funds, the respective depositories and fund management companies.

  • 2.

    In order to carry out its supervisory duties referred to above, AMCM shall issue the necessary regulatory norms and conduct inspections to verify their compliance.

CHAPTER II Pension plans

Article 7 (Types)

  • 1.

    Based on the type of guarantees provided, pension plans shall be classified as:

    • a)

      Defined benefit plans – wherein the pecuniary payments payable to the beneficiaries are predefined and the contributions to be made are calculated so as to guarantee the respective payments;

  • b)

    Defined contribution plans – wherein the contributions to be made are predefined and the pecuniary payments payable to the beneficiaries are determined according to such contributions;

  • c)

    Mixed plans – which have the features of the two plans mentioned above.

  • 2.

    Based on the form of financing, pension plans shall be classified as:

    • a)

      Contributory plans – wherein participants make contributions;

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