Article 6 (Supervision)
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.
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)
Based on the type of guarantees provided, pension plans shall be classified as:
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;
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;
Mixed plans – which have the features of the two plans mentioned above.
Based on the form of financing, pension plans shall be classified as:
Contributory plans – wherein participants make contributions;