Wynn Launches Non-Mandatory Central Provident Fund Scheme
Securing team members' retirement future
Macau, April 29, 2019 – Wynn Macau, Limited announced today that the Company will officially launch the non-mandatory Central Provident Fund (CPF) scheme, offering team members a new way to plan for their future in retirement. From July 1, any new local team members who join Wynn Macau, Wynn Palace, or Wynn Design and Development (WDD) Asia will enroll in the new CPF. Existing local team members who are currently members of the Provident Fund scheme will have the option to transfer to the new scheme or remain in the existing scheme, which will run in parallel.
Wynn has been operating a Provident Fund scheme as a benefit for team members since its first Macau resort opened in 2006, as an effective way to help employees save for their future. The Company cares for its team members and fully supports the Macau Government's new initiative to enhance social protection for local team members. This new CPF system will strengthen the social protection of Macau residents in their old age and complement the existing Social Security System.
To help team members fully understand their options, Wynn will facilitate three months of CPF communication sessions to share information about the new scheme, its benefits, and the importance of retirement security.