Month: April 2020

UAE

UAE DIFC mandatory retirement plan final guidance

Update: Final guidance has been issued by the DIFC, a special economic zone in Dubai, on the implementation of the new DIFC Employee Workplace Savings plan (DEWS), which replaces the current end-of-service gratuity payment plan for expatriate employees. The plan, […]

United Kingdom

United Kingdom increases statutory pay rates

The government in the United Kingdom has increased the rates of statutory pay for sick pay, maternity, paternity, adoption and shared parental leave, effective 6 April 2020. The following weekly rates of statutory pay are expected to apply from 6 […]

Peru

Peru requires compulsory life insurance from the start of employment

The government of Peru now requires employers to provide employees with compulsory life insurance, including coverage for accident and disability, from the first day of employment. The new regulation, which will better protect the health and safety of employees, was […]

Korea

South Korea to implement universal corporate pension system (Update)

The Korean government introduced a bill mandating all companies established in South Korea contribute to a compulsory corporate pension plan, which can include defined contribution, defined benefit and individual retirement pension plans. The proposed bill was introduced on 11 June […]

Finland

Finland to expand parental leave entitlements

The newly appointed Finnish government has recently announced its plan to enhance family leave entitlements by: Expanding government-paid parental leave to each parent. Each parent would therefore have 6.6 months (approximately 164 working days – six working days per week). […]