Financial 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

Republic of Korea: Job maintenance cost loan project

Submitted by siha on Thu, 07/30/2020 - 17:10

The Ministry of Employment and Labor (30.07.2020) The Ministry of Employment and Labor and the Korea Labor Welfare Corporation announced that they will accept the loan maintenance project for small and medium-sized enterprises (SMEs) with no financial resources due to the temporary management difficulties following the spread of Corona 19.

Regions / Country
korea, Republic of
Global challenges
Topics
Unemployment
Employment policies
Covid-19
Financial crisis
Document Type

Republic of Korea: Newly established an Emergency livelihood fund loan program for construction workers

Submitted by siha on Thu, 07/30/2020 - 16:50

Ministry of Employment and Labor (30.03.2020) Construction workers are being hit hard by the spread of Covid-19 due to delayed contracts and construction suspensions. Zero-interest loans will be provided to construction workers from mid-April to help their livelihoods, with individual loans capped at KRW 2 million.

Regions / Country
korea, Republic of
Topics
Unemployment
Employment of young workers
Financial crisis
Document Type

New Caledonia: Deferral of social contributions for employers

Submitted by siha on Thu, 07/30/2020 - 12:31

CAFAT (30.07.2020) The payment dates for contributions due by employers forced to reduce or suspend their activities due to the health emergency measures adopted on March 23, 2020 are as follows: The payment of social contributions for the 1st calendar quarter of 2020 (due April 30, 2020) is postponed to September 30, 2020. The payment of social contributions for the 2nd calendar quarter of 2020 (due July 31, 2020) is postponed to October 30, 2020.

Regions / Country
New Caledonia
Global challenges
Topics
Employment
Compliance and Contribution Collection
Covid-19
Financial crisis
Document Type

New Caledonia: Reinforced partial unemployment "Covid-19 allowance"

Submitted by siha on Thu, 07/30/2020 - 12:02

Government of New Caledonia (16.07.2020) Covid-19 allowance has been extended for companies durably affected by the health crisis for a period of three months, from 1 st June 2020 to 31 August 2020 with the possibility of extending it for another three months. The amount is 100% of the salary for employees remunerated at the guaranteed minimum hourly wage of the sector of activity concerned, and 70% of the last gross salary within the limit of 4.5 times the minimum wage in other cases.

Regions / Country
New Caledonia
Topics
Employment
Unemployment
Cash transfers
Shocks &extreme events
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

Réunion: Regional rebound fund

Submitted by siha on Mon, 07/27/2020 - 17:13

Réunion region (02.07.2020)With the objective of strengthening the cash flow of SMEs affected by the crisis, in the amount of € 30K to € 300K, this aid takes the form of a zero-interest loan and is open to SMEs potentially created for more than a year (with at least 1 balance sheet) This fund allows SMEs to have facilities and the possibility of seeing coming with:  2 years deferred repayment, 0% interest rate, and  No administration fees.

Regions / Country
Réunion
Global challenges
Topics
Covid-19
Financial crisis
Document Type

Guadeloupe: COVID-19 region: TPE regional emergency fund

Submitted by siha on Mon, 07/27/2020 - 15:23

REGIONAL COUNCIL OF GUADELOUPE (22.04.2020) This system takes the form of a refundable advance, without guarantee and at zero rate for an amount between 3,000 and 15,000 € per company, corresponding to 12.5% ​​of the turnover achieved in 2018, and for newly created companies , 12.5% ​​of the turnover achieved since the start of the activity, without exceeding 1 year. This advance will be repayable over a period of 5 years with a grace period of two years. This aid applies to companies with a maximum annual turnover of € 180,000.

Regions / Country
Guadeloupe
Global challenges
Topics
Employment
Shocks &extreme events
Financial crisis
Document Type

Costa Rica: Employers may request extension of the term of contract suspensions

Submitted by siha on Fri, 07/24/2020 - 11:36

Minister of Labor and Social Security (15.06.2020) The Minister of Labor and Social Security signed a directive that allows employers to request an extension of the measure to suspend their employment contracts due to the pandemic by COVID-19. The MTSS-DMT-CIR-5-2020 directive allows employers to request the extension of the initial period of three months for up to an additional equal period, as long as the impact on the economic turn of companies is maintained.

Regions / Country
costa rica
Topics
Employment
Covid-19
Financial crisis
Document Type

Kosovo: Early payment of pension and social schemes in time if crisis

Submitted by siha on Thu, 05/28/2020 - 16:28

 Ministry of Finance and Transfers (21.05.2020)  The Kosovo Treasury has executed the payment of all pension and social schemes for over 310 thousand beneficiaries, a few days before the regular time, due to the pandemic situation and in respect of the official holiday of the Great Eid.

Regions / Country
kosovo
Global challenges
Topics
Old age Pensions
Financial crisis

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