A Study of Aging Population and Central Provident Fund System in Macao

The world's overall fertility rate is declining while the life expectancy is increasing, the population structure is aging, the dependency ratio in Macao will steadily increase to 38.6% at the end of 2031. The median age of Macao is rising from Aged 38.1 to 45.5 during the period of 2011 to 2031. In this view, Macao becomes the aging society.In order to establish a basis for the establishment of a central provident fund system, the Macao SAR Government implemented the central savings system in 2009 through the General Rules for the Establishment and Management of Individual Accounts of the Central Savings System through Administrative Regulation No. 31/2009 to allocate funds for eligible account holders, Subsequently, the Government of the Macau Special Administrative Region (SAR) promulgated the Act "Non-mandatory Central Provident Fund System".