The government of Indonesia passed implementing regulations to the law on Public Housing Savings which creates a government-sponsored housing savings fund with mandatory contributions. The new law aims at helping public and private sector workers finance the purchase, renovation or […]
Beginning 1 July 2021, Hungary will increase the amount of infant care allowance. Background Mothers are entitled to an infant care allowance (Csecsemőgondozási díj) during their maternity leave for a maximum of 168 days following the birth. As of 1 […]
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 […]
On 29 November 2019, the Ministry of Human Resources and Social Security promulgated provisional measures requiring employers to contribute to mainland China social insurance for Taiwan, Hong Kong and Macau (THKM) residents living and/or working in mainland China. The new […]
In November 2018, the government of Nepal finally launched a new mandatory, contribution-based social security plan mandating private sector employers contribute to the Social Security Fund (SSF). Employers are required to register their employees with the SSF before 21 May […]
On 28 February 2019, the Supreme Court of India ruled that special allowances will be included in the scope of basic wages and shall therefore be subject to Employees’ Provident Fund (EPF) contributions. This issue has been subject to extensive […]
In March 2019, the government of China released social insurance policies that reduced the employers’ contribution to basic pension insurance from 20% of an employee’s salary down to 16%. This change takes effect 1 May 2019. China has one of […]
The government of Hong Kong passed a law increasing the maximum tax-deductible limit for voluntary contributions to Mandatory Provident Funds (MPF). The tax-deductible limit was raised from HKD 36,000 to HKD 60,000 per year per person. This legislation, the Inland […]
Currently, employers and employees in companies with at least three employees are mandated to contribute a combined 18 percent of pay to a Retirement Savings Account (10 percent and 8 percent, respectively). The Nigerian Pension Reform Act of 2014 introduced […]
A mandatory pension plan referred to as the “Accumulated Pension System” (APS), was introduced on 1 January 2019, for workers under age 40. Previously, pension plans for those living in Georgia and reaching retirement age were limited to a public […]