Proposition_SS_Monitor_covid19

India:National Pension System withdrawal for Coronavirus: How to withdraw from NPS due to COVID-19 - 5 points

Submitted by siha on

The Financial Express (24.04.2020) NPS withdrawal for COVID-19: In view of hardships faced by people due to Coronavirus pandemic, the Pension Fund Regulatory Development Authority of India (PFRDA) has allowed account holders to make partial withdrawals from the National Pension System (NPS).

Regions / Country
india
Global challenges
Topics
Cash transfers
Shocks & extreme events

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India: Modi govt to provide 3 months pension in advance to senior citizens, differently-abled, widows - The Financial Express

Submitted by siha on

The Financial Express (27.03.2020) National Social Assistance Program: The Union government will provide three months' pension in advance to the poor senior citizens, widows and persons with disabilities in first week of April. The program is run by the Union Rural Development Ministry. Apart from the above, an ex gratia amount of Rs 1,000 over the next three months will be given in two instalments to these beneficiaries, according to the announcement by Finance Minister.

Regions / Country
india
Global challenges
Topics
Cash transfers

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Hungary: Social security contribution exemption/reduction in response to COVID-19 - KPMG Global

Submitted by siha on

KPMG Global (04.05.2020) Modified social security contribution rules shall be applied for the period of March-June 2020 to the specified sectors (Hospitality and tourism; Entertainment, film industry, performing arts; Sports services; Event organization; Gambling).

Regions / Country
hungary
Global challenges
Topics
Financial crisis
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Finland: Pen­sion cont­ri­bu­tions tem­po­ra­ri­ly lowe­red

Submitted by siha on

Fin­nish Cent­re for Pen­sions (06.04.2020) Emplo­yers’ ear­nings-re­la­ted pen­sion cont­ri­bu­tions have been tem­po­ra­ri­ly lowe­red by around 2% (until the end of the year). This mea­su­re is fi­nanced by cut­ting into the EMU buf­fer (to a value of €900 mil­lion).

Regions / Country
finland
Global challenges
Topics
Contribution collection and compliance
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Finland: Processing of unemployment benefit applications to be accelerated

Submitted by siha on

Ministry of Social Affairs and Health (08.05.2020) Based on a temporary amendment, unemployment benefit can be paid without a decision, as an advance payment, for a period of six months instead of the current period of two months. The President of the Republic approved the act on temporary derogations from the Unemployment Security Act due to the coronavirus epidemic. The act will enter into force on 11 May 2020 and it will remain in force until 31 October 2020.

Regions / Country
finland
Global challenges
Topics
Unemployment
Cash transfers
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Uruguay: Actualización de información en relación al coronavirus COVID-19

Submitted by cambrosio on

gub.uy (19.03.2020)

El Ministerio de Economía y Finanzas (MEF) anunció que aplazará el vencimiento de pagos de BPS y la DGI. Los aportes patronales al BPS con vencimientos en marzo y abril de los monotributistas, las unipersonales y las sociedades personales con hasta 10 empleados podrán ser abonados en un 60% en junio. El 40% restante será subsidiado totalmente por el Estado, según anunció la ministra Arbeleche.

Regions / Country
uruguay
Global challenges
Topics
Contribution collection and compliance
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China: Social security contributions reduced in response to COVID-19 - Willis Towers Watson

Submitted by siha on

Willis Towers Watson (18.03.2020) Employer social security contributions for retirement pensions, workers compensation, unemployment and health (including maternity) benefits are reduced. The extent and duration of the measures depend on the province, autonomous region or municipality, and size of the employer’s workforce.
For retirement pensions, workers compensation and unemployment benefits:

Regions / Country
china
Global challenges
Topics
Financial crisis
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Australia: Early access to your super | Australian Taxation Office

Submitted by siha on

Australian Taxation Office (04.05.2020) COVID-19 – early release of superannuation: Individuals financially affected by COVID-19 can access some of their superannuation early. The withdrawal is tax free. 

Eligible Australian and New Zealand citizens and permanent residents are able to apply to access up to:

  • $10,000 of their super until 30 June 2020
  • a further $10,000 from 1 July 2020 until 24 September 2020.

To apply for early release, you must be unemployed or satisfy one of the requirements.

Regions / Country
australia
Global challenges
Topics
Unemployment
Cash transfers
Document Type

Australia: Economic Support Payment - Services Australia

Submitted by siha on

Services Australia (08.05.2020) Economic Support Payment: The first Economic Support Payment is a one-off payment of $750. You’ll get it if you were living in Australia between 12 March 2020 and 13 April 2020 and either:

Regions / Country
australia
Global challenges
Topics
Cash transfers
Document Type