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FSS foresees more unemployment withdrawals

Diana do Mar

The Social Security Fund (FSS) anticipates an increase in the number of requests for early withdrawal of budget balances by permanent residents aged 60 who are unemployed.

The Government has been injecting, since 2010, a sum of 7,000 patacas annually into the individual accounts of the non-mandatory central pension scheme. This adds up to 10,000 patacas attributed at once when the account is activated.

As a general rule, this money can only be withdrawn at age 65, but there are exceptions. Permanent residents who are unemployed are covered precisely in cases where early withdrawal of funds may be requested.

Thus, due to the pandemic and, at a time when the unemployment rate among residents reached 3.5% in the second quarter – the highest figure in ten years -, the head of the General Affairs Division of the Social Security System, Ho Hoi Sang, predicts a climb. “As we are dealing with the pandemic this year, we anticipate that more people will be raising funds for this reason. We expect it to be 2000 ”.

Read more at TDM

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