First Batch of Expanded Social Security Funds under "Guangdong-Macao Pension Transfer Scheme 2.0" Successfully Landed in Guangdong

The launch ceremony for “Guangdong-Macao Pension Transfer Scheme 2.0” was recently held in the Guangdong-Macao In-depth Cooperation Zone in Hengqin. Coordinated and advanced by the State Administration of Foreign Exchange Guangdong Branch, the first transfer from Macao's central provident fund to a Macao resident’s Guangdong bank account was completed on the day of the ceremony. Combined with the launch of cross-border Macao disability benefit transfers in Hengqin on July 14, a one-stop direct transfer channel covering all categories of Macao's social security and livelihood funds is now fully operational.

It is learned that the core advantages of “Guangdong-Macao Pension Scheme 2.0” includes full coverage of fund types, long-term benefits upon one-time registration, fully automatic settlement and zero handling fees. The initiative effectively addresses difficulties faced by Macao residents living long-term in Guangdong when receiving cross-border social security funds. It is a vivid practice of the State Administration of Foreign Exchange Guangdong Branch’s commitment to livelihood-related foreign exchange services. By leveraging high-standard cross-border financial services to fuel integrated development of the Guangdong-Hong Kong-Macao Greater Bay Area, the scheme brings efficient, convenient and people-centered foreign exchange facilitation services to Macao residents.