(CMR) The national pension holiday period has been extended until 31 December 2021. Cabinet, by way of an Order, in accordance with section 1(3) of the National Pensions (Amendment) Act 2020, approved the extension.
The Department of Labour and Pensions reminds the public that employers and employees will not be required to pay mandatory pension contributions into pension plans during the extension period. As with the previous pension holidays, Government Owned Companies and Statutory Authorities are excluded from the Order.
The Department of Pensions and Labour further advises that voluntary pension contributions can be paid into pension funds if such payments are agreed upon between the employer and employee.
Contact [email protected] for questions or for further information.