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).

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

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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.

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india
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Cash transfers

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

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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).

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hungary
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Finland: Pen­sion cont­ri­bu­tions tem­po­ra­ri­ly lowe­red

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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).

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finland
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Contribution collection and compliance
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Finland: Processing of unemployment benefit applications to be accelerated

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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.

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finland
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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.

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uruguay
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Pakistan: Ehsaas Emergency Cash Programme's payment process to commence from next week

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thenews.com.pk (05.04..2020) The Ehsaas Emergency Cash Program will help 12 million families by providing them financial assistance of Rs. 12,000 per family and the total budget approved for this initiative is Rs. 144 billion. The Kifalat beneficiaries, who were being given Rs2,000 per month, will be provided an additional Rs1,000.
Deserving families will be given Rs12,000 cash after biometric verification through 18,065 sale points or retail shops of Habib Bank Limited and Bank Al-Falah across the country.

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pakistan
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China: Social security contributions reduced in response to COVID-19 - Willis Towers Watson

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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:

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china
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Australia: Early access to your super | Australian Taxation Office

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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.

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australia
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