The Chilean government is currently debating the introduction of employer contributions to the social security pension system. Currently, only employees contribute to the retirement and healthcare systems in Chile. The government is proposing the introduction of a 4 percent employer contribution rate […]
The Kenyan government passed the Finance Act, 2018 creating a national housing development fund to help employees earning up to KES 100,000 per month to finance the purchase of their first home via government sponsored housing plans. Starting from 1 […]
Starting 1 January 2019, social security contributions will be levied by the tax authorities rather than social insurance administrative authorities. This change is part of the government’s ongoing efforts to increase compliance with social insurance contribution requirements while standardizing, and in […]
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 […]
Act No. 115 of 20 June 2018, amends Article 5 of Act No. 17 to allow payroll deductions to repay the employer (without interest) for any “loan, salary advance, or [the cost] of any equipment, materials, or goods provided by […]
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 government of Egypt has introduced a new labor law providing greater job security and employment rights protections for private sector and nongovernmental organization employees. The proposed law amends several labor laws, including the current labor code (Law No.12 of […]
Draft tax reform legislation would substantially eliminate social security contributions for employers and double them for employees. Employers currently pay 31.18 percent and employees 9 percent. The reform would see employers pay 1.47 percent and employees 19.5 percent. The government argues that […]
The Australian Minister for revenue and financial services announced an amnesty period during which employers can self-correct past noncompliance with superannuation guarantee requirements. The amnesty agreement will be available for a 12-month period from 24 May 2018, to 23 May […]
Automatic enrollment The automatic enrollment of employees under the age of 45 in private pension plans by their employers was introduced by law No. 6740 of 25 August 2016, which amended the private pension savings and investment law No. 4632. […]