Resumen
The world is experiencing population ageing, which will extend to the future across the world. The ageing population is sure to impact a country?s welfare policy and economy. Macau is a special administrative region (SAR) of China with a long-life expectancy and a decreasing reproduction rate, making the population ageing particularly obvious. This study adopts a mixed methods approach to analyze the relationship between the ageing population, pension recipients, and pension payments to suggest the pension system and welfare leaking strategies of Macau SAR. The Granger causality test and focus group were conducted to test and discuss the ageing population, pension recipients, and pension payments. Results show that the ageing population positively affects pension payments. The ageing recipients are not corresponding to the ageing population and payments show welfare leakage. Suggestions are offered accordingly for a welfare policy to offer remedy strategies and reform the pension system.