This is an article authored by Magali Frédéric reporting for Le Mauricien. The article was published in Le Mauricien's printed edition of 02 February 2022. It gives an overview of the issues relating to the Portable Retirement Gratuity Fund (PRGF) that were discussed during a webinar delivered by Bilshan Nursimulu (Partner, Orison Legal) on 24
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What is the PRGF?
The Portable Retirement Gratuity Fund (PRGF) is a fund established under the Workers’ Rights Act 2019. Where an employee is eligible to join the PRGF, the employer is required to make certain contributions to the PRGF in respect of that employee from 1 January 2020. When the employee retires at/after the age
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The Social Contribution and Social Benefits Act was enacted on 30 July 2021. In a nutshell, it repealed the Contribution Sociale Généralisée Regulations 2020 (the “CSG Regulations”) and amended the National Pensions Act as explained below. This note summarises the changes brought by the Act. It does not, however, deal with all aspects of the
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The objective of the Finance Bill is to provide for the implementation of measures announced in the Budget Speech 2021-2022. This note summarises its key proposals, which will be debated and voted at the National Assembly in the coming weeks. It aims to provide a basic understanding of the proposed measures that are relevant to
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