Logo of Phnom Penh Post newspaper Phnom Penh Post - Pension plan set to be implemented

Pension plan set to be implemented

Content image - Phnom Penh Post
Minister of Labour and Vocational Training Ith Samheng. Hong Menea

Pension plan set to be implemented

The labour and finance ministries are set to implement a pension plan under the Labour Law.

A directive on the pension scheme was signed by Minister of Labour and Vocational Training Ith Samheng and Minister of Economy and Finance Aun Pornmoniroth on June 28.

“The pension plan is to be implemented for individuals who qualify under Article 39 of the Labour Law,” the directive said.

In March, Prime Minister Hun Sen signed a sub-decree consisting of 10 chapters and 40 articles to provide the pension plan for individuals qualifying under the law so workers in the private sector could benefit like those in the public sector.

The sub-decree covers individuals qualifying under the law, including those working two jobs. The National Social Security Fund (NSSF) is to manage the pension fund as stipulated in the sub-decree.

It said that for the first five years, contributions were set at a rate of four per cent, half to be paid by employers and the other half by employees, with payments to be made monthly.

Labour ministry spokesman Heng Sour said those qualifying under the law would have to pay the contributions to receive the benefit.

National Trade Union Coalition (NTUC) president Far Saly said he had yet to receive information as to what extent of workers would be included in the plan.


  • Angkor lifetime pass, special Siem Reap travel offers planned

    The Ministry of Tourism plans to introduce a convenient, single lifetime pass for foreign travellers to visit Angkor Archaeological Park and potentially other areas. The move is designed to stimulate tourism to the culturally rich province of Siem Reap as the start of the “Visit

  • Ice cream, noodles flagged over carcinogen

    The General Department of Customs and Excise of Cambodia (GDCE) has identified three types of instant noodles and ice cream trademarks originating from Thailand, Vietnam and France that are suspected to contain ethylene oxide, which poses a cancer risk to consumers. The general department has

  • Exclusive interview with Josep Borrell Fontelles, High Representative of the EU

    CAMBODIA is hosting the 55th ASEAN Foreign Ministers’ Meeting (AMM) and Related Meetings this week with top officials from the US, China, and Russia and other countries in the region slated to attend and to meet with face-to-face with their counterparts on the sidelines. In

  • Rise in Thai air routes to Siem Reap fuels travel hopes

    Local tourism industry players are eager for regional airline Bangkok Airways Pcl’s resumption of direct flight services between the Thai capital and Siem Reap town on August 1 – home of Cambodia’s awe-inspiring Angkor Archaeological Park – which is expected to boost the growth rate of

  • ASEAN Foreign Ministers’ meet commences, Taiwan issue possibly on table

    The 55th ASEAN Foreign Ministers’ Meeting (AMM) and related meetings hosted by Cambodia kicks off in Phnom Penh on August 3, with progress, challenges, and the way forward for the ASEAN Community-building on the table. Issues on Taiwan, sparked by the visit of US House Speaker

  • Recap of this year’s ASEAN FM meet and look ahead

    This year’s edition of the ASEAN Foreign Ministers’ Meeting (AMM) hosted by Cambodia comes against the backdrop of heightened global tensions and increasing rivalry between major powers that have been compared to the animosity of the Cold War era. The following is The Post’