economic crisis

Australia: Temporarily reducing superannuation minimum drawdown rates

Submitted by siha on Thu, 08/06/2020 - 11:23

Australian Taxation Office (29.07.2020) The government is temporarily reducing superannuation minimum drawdown requirements for account-based pensions and similar products by 50% for 2019–20 and 2020–21. This measure will benefit retirees holding these products by reducing the need to sell investment assets to fund minimum drawdown requirements.

Regions / Country
australia
Topics
Old age Pensions
Covid-19
Financial crisis
Document Type

Réunion: Regional safeguard fund

Submitted by siha on Mon, 07/27/2020 - 17:23

Réunion Region (18.05.2020) This fund is part of a principle of subsidiarity, in addition to the other mechanisms operated by the State and the local authorities, and must allow “last resort” intervention. It is therefore mobilized if: • the applicant does not have access to a bank loan or to other support tools offered by the State, the Region (rebound loan) or other communities, • the other support tools did not meet the cash flow requirements.

It is an Advance of 10,000 € - repayable in 3 years, including 1 year deferred No Guarantee - Interest rate = 0%

Regions / Country
Réunion
Global challenges
Topics
Shocks &extreme events
Covid-19
Financial crisis
Document Type

Mexico: Mexico Providing Simplified Social Security Installment Plans for COVID-19

Submitted by siha on Fri, 07/10/2020 - 15:21

Orbitax News (10.07.2020) Mexico's Social Security Institute has announced a simplified installment plan scheme for employers facing difficulties in paying their social security contributions due to COVID-19. Under the scheme, employers may make up to 48 monthly installments, subject to monthly interest as follows:

Regions / Country
mexico
Global challenges
Topics
Compliance and Contribution Collection
Shocks &extreme events
Document Type

Taiwan: Deferred payment of labor, insurance premiums and labor pension

Submitted by siha on Thu, 06/25/2020 - 17:23

Labor Insurance Bureau of the Ministry of Labor (11.03.2020) From April 1, 2020 to September 30, 2020, the insured (withdrawn) unit and professional workers meet one of the conditions may apply to the Bureau for deferred payment of labor, insurance premiums and labor pension. The insurance premium and labor retirement pension of 6 months of labor from February 2020 to July 2020 from the expiration date of the grace (limitation) period may be postponed for half a year. No late fees will be levied during this period.

Regions / Country
Taiwan, China
Global challenges
Topics
Compliance and Contribution Collection
Shocks &extreme events
Document Type

Denmark: One-time grant of DKK 1,000

Submitted by siha on Thu, 06/18/2020 - 15:43

Ministry of employment (16.06.2020) A tax-free one-time grant of DKK 1,000 is paid to beneficiaries who were fully or partially publicly supported by a public income transfer in the month of April. The grant is not offset by the citizen's public benefits.

Regions / Country
denmark
Global challenges
Topics
Cash transfers
Document Type

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

Submitted by siha on Tue, 05/12/2020 - 09:14

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
Document Type

Taiwan: The Ministry of Labor's "Relaxed Real-Time Work Plan"

Submitted by siha on Mon, 04/27/2020 - 12:53

The Ministry of Labor (27.04.2020) The Ministry of Labor relaxes eligibility of "Relaxed Real-Time Work Plan", and those with insurance records within one year can apply for the job opportunities provided by local governments and central authorities. The job includes document sorting, environmental cleaning, and epidemic prevention-related work, such as measuring temperature and disinfecting the environment. The maximum allowance is 12,640 yuan per month and maximum duration per person is 6 months.

Regions / Country
Taiwan, China
Topics
Employment
Document Type