Social Insurance

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 […]

Nepal

Nepal introduces mandatory social security contribution

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 […]

China

China reduces social insurance contributions for employers

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 […]

Nigeria introduces new voluntary pension contribution guidelines

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 […]

Georgia introduces new pension plan

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 […]

Mali

Mali to introduce universal health insurance

The government of Mali has introduced a bill for universal health insurance, known as Regime d’Assurance Maladie Universelle, or RAMU. RAMU aims to provide the entire Malian population with a single health insurance plan, in accordance with Article 17 of […]

South Korea to encourage online insurance exchange

Amendments are in progress to the Enforcement Decree of the Insurance Business Act and the Regulation on the Supervision of Insurance Business to capture and encourage online insurance exchange platforms, streamlining processes and reducing costs for individuals and groups seeking […]