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The government of Macau is urging casino operators to join a pension plan to improve workers’ benefits.
One of the biggest gaming hubs in the world, Macau, could set new regulations to improve gaming workers’ benefits as the government is negotiating with operators to join a pension plan. According to the government’s statement, published by Calvin Ayre, the plan would “help protect workers and give them better options for their pensions.”
One of the labour representatives said the city’s government should use as leverage the fact that the casino operators’ current gaming rights will expire on various dates in either 2020 or 2022, and they will be seeking to refresh them.
The Power of the Macao Gaming Association (PMGA), a Macau labour group, and Macau legislator Leong Sun Iok are urging casino operators to join the “non-mandatory central provident fund.” As gaming licences are expiring in either 2020 or 2022, local analysts think the government could use that as a threat to make operators join the plan.
In a conversation with media outlet GGRAsia, PMGA director Lei Iok Po said: “The six casino operators have different pension schemes… but there are practices that… employees – upon ‘reasonable dismissal’ – will not get a single cent of the employers’ contribution to their pension scheme.”
He then added: “In that sense, the government’s provident fund scheme is better because the employee can obtain the employer’s contribution in any scenario of a labour contract termination.” He pointed out one potential downside to the pension fund, though, stating: “The disadvantage with the government scheme is that workers can only withdraw their funds [pension money] at 65 years old.”
Source: European Gaming Industry News