The default mandatory employee contribution rate to Quebec Voluntary Retirement Savings Plans (VRSP) will increase from 3 percent to 4 percent on 1 January 2019. Employers who do not have a corporate retirement plan are required to enroll their staff working […]
Ontario has prohibited the application of a mandatory retirement age since the Human Rights Code was amended in 2006, but the code permits employers to rely on the Ontario Employment Standards as a rationale to cease employee benefits coverage at […]
Minimum wage increase The United Kingdom will increase the National Living Wage on 6 April 2019, from GBP 7.83 per hour to GBP 8.21 per hour for employees age 25 and older. The 4.9 percent increase was announced in the […]
Changes to Victoria’s long service leave (LSL) statutes take effect 1 November 2018. The changes provide greater flexibility to women, families and employees transitioning to retirement. The service period for entitlement to LSL has been reduced from ten years to […]
The restructuring of Poland’s pension institutions, which was anticipated to begin 1 January 2018, has been postponed to 1 July 2019. When the reform comes into force, employers in Poland will be required to automatically enroll employees in a qualified […]
The National Assembly of Kuwait has passed an early retirement law granting full social security retirement benefits to insured men who have worked for 30 years and women who have worked for 25 years, regardless of their age. The law […]
On 20 July 2018, an update of mortality reference tables (Heubeck 2018 G), were released by Heubeck AG – the firm that has published mortality tables used for the valuation of German pension obligations since 1948. The report shows lower […]
Starting 1 January 2019, pension providers will be allowed to automatically transfer the total contributions of participants who have accrued rights to an annual pension between EUR 2 and EUR 474.11 to another pension provider after employment termination.
Decree 2250 grants tax benefits to any voluntary pension contribution to the compulsory pension fund, starting December 2017. Voluntary contributions are through payroll and pretax. Tax breaks apply only to contributions up to 30 percent of monthly income or 40 […]
Ireland is planning fundamental changes to the pensions system. On 28 February 2018, the Irish government launched the “Roadmap for Pensions Reform 2018-2023,” which is a detailed program to reform and update the pension system in Ireland for a fast […]
May 16th, 2024: Insights into Employee Benefits in Central and Eastern Europe.
June 25th, 2024: Global Benefits Strategy, Findings from Lockton’s Multinational Employer Survey.