{"id":4648,"date":"2019-05-12T08:46:11","date_gmt":"2019-05-12T08:46:11","guid":{"rendered":"https:\/\/www.casinosrealmoney.com\/news\/?p=4648"},"modified":"2019-05-12T08:46:11","modified_gmt":"2019-05-12T08:46:11","slug":"melco-resorts-joins-macaus-pension-plan","status":"publish","type":"post","link":"https:\/\/www.casinosrealmoney.com\/news\/melco-resorts-joins-macaus-pension-plan\/","title":{"rendered":"Melco Resorts Joins Macau’s Pension Plan"},"content":{"rendered":"\n

<\/p>\n\n\n\n

Renowned Asian casino operator, Melco Resorts and Entertainment Limited has recently decided to support Macau’s non-obligatory pensions plan<\/a>. The casino operator believes that the plan, which is designed to give casino employees better benefits in their old age and to offset any possible reductions in the government’s social security programs, is a great idea hence its decision to be part of it.<\/p>\n\n\n\n

Referred to as the Macau Non-Mandatory Central Provident Fund System, the pension plan was created in January 2018 as a completely voluntary program \u2013 this means that businesses are not required to participate at all. Even so, the officials of the city of Macau<\/a> did not hide the fact that despite the fact that it was voluntary, it would be in the casinos’ best interests to be part of it, especially when it came time to consider such things as concession renewals. As such, Melco will be joining the program officially as from July.<\/strong><\/p>\n\n\n\n

That said, all of the casino operator’s new hires will be\ngiven the option of enrolling in the program. The existing employees who are\nalready part of any of the company’s only pensions schemes will be allowed to\neither opt to switch to keep going with their\nexisting pension schemes. These changes will apply to the employees at the\ncompany’s four Macau venues \u2013 these are the Altira Macau, City of Dreams,\nStudio City as well as the Mocha Club electronic gaming machine facility.<\/p>\n\n\n\n

Enhancing Social Security for Macau Casino Employees<\/h2>\n\n\n\n

The employees that will opt to enroll on the Macau pension fund will be required to contribute no less than 5 percent of their basic monthly salaries and their employers will be required to match these funds.<\/strong> This will help the scheme to achieve its goal of enhancing social protection for Macau residents in their old age while at the same time complementing the existing social security system.<\/p>\n\n\n\n

“Our colleagues are integral to the company\u2019s achievements, and we are pleased to support the Macau SAR Government\u2019s Non-Mandatory Central Provident Fund for our Macau resident employees,” Melco\u2019s boss, Chairman, and Chief Executive Officer Lawrence Ho, explained.<\/p><\/blockquote>\n\n\n\n

To introduce and elaborate on what the new pension scheme has to offer, Melco’s management plans to educate and inform the company’s employees so that they are able to make informed choices. So far, the new Macau pension plan has already been accepted by quite a number of gaming companies. Some of the other prominent casino operators that are now a part of it include SJM Holdings Ltd., MGM China Holdings Ltd., and Wynn Macau<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Renowned Asian casino operator, Melco Resorts and Entertainment Limited has recently decided to support Macau’s non-obligatory pensions plan. The casino operator believes that the plan, which is designed to give casino employees better benefits in their old age and to offset any possible reductions in the government’s social security programs, is a great idea hence […]<\/p>\n","protected":false},"author":2,"featured_media":4649,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[22],"tags":[19,14,268,269,270,271],"class_list":["post-4648","post","type-post","status-publish","format-standard","hentry","category-legislation","tag-casino","tag-casinos","tag-employees","tag-melco-resorts","tag-pension-plans","tag-social-security"],"acf":[],"yoast_head":"\nMelco Resorts Joins Macau's Pension Plan - Casinos Real Money News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casinosrealmoney.com\/news\/melco-resorts-joins-macaus-pension-plan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Melco Resorts Joins Macau's Pension Plan - Casinos Real Money News\" \/>\n<meta property=\"og:description\" content=\"Renowned Asian casino operator, Melco Resorts and Entertainment Limited has recently decided to support Macau’s non-obligatory pensions plan. 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