Month: July 2024


Ireland Extends Parent’s Leave

The Irish government is extending parent’s leave from seven weeks to nine weeks. The leave period is paid by Irish social insurance for qualifying employees. The Parent’s Leave and Benefit Act 2019 (Extension of Periods of Leave) Order 2024 will enter into effect on 1 August 2024.

South Africa

South Africa Introduces a Two-Pot Retirement System

The South African parliament has recently passed legislation dividing occupational retirement contributions into two pots (referred to hereunder as components) making one-third of the funds accessible prior to retirement and the remaining two-thirds available only at retirement or death. The new system, known as the “two-pot” system, will come into effect on 1 September 2024.

Australia Increases Superannuation Contribution Rate

On 1 July 2023, the Australian government increased the Superannuation Guarantee (SG) contribution rate by 0.5% to 11% of employees’ earnings. The SG rate is scheduled to increase by 0.5% each year until it reaches 12% of employees’ earnings on 1 July 2025.


Colombia to introduce a healthcare reform

The Lower House of the Colombian Congress recently approved a controversial government proposal (Bill 339 of 2023) to shift the financing of the healthcare system from private providers to the government.
The reform has faced political challenges and opposition, resulting in the resignation of the former Minister of Health and a reshuffling of the cabinet. Despite these hurdles, the Colombian legislature continues to debate the reform. It is still unclear if or when the bill will pass into law.