In order to set up a central provident fund system in the social security system of Macau, the Macau government issued decree laws to open and inject startup funds to the central savings system individual accounts for eligible residents, and convert the central savings system individual accounts into the provident fund individual accounts in 2010 & 2012 respectively.

        Law No. 7/2017 (Non-Mandatory Central Provident Fund System) was approved in detail by the General Assembly of the Legislative Assembly on 31 May 2017 and came into force on 1 January 2018. This non-mandatory central provident fund system aims to strengthen the social protection for the residents of the Macao SAR in their old age and to complement the existing social security system.