Presidential Order determining Contributions Rate to Mandatory Pension Scheme

Citation
Presidential Order 9 of 2016
Date
30 May 2016
Language
English
Type
Legislation
Rwanda

Presidential Order determining Contributions Rate to Mandatory Pension Scheme

Presidential Order 9 of 2016

We, KAGAME Paul,President of the Republic;Pursuant to the Constitution of the Republic of Rwanda of 2003 revised in 2015, especially in Articles 112, 122 and 176;Pursuant to Law n° 05/2015 of 30/03/2015 governing the organization of pension schemes, especially in Article 8;On proposal by the Minister of Finance and Economic Planning;After consideration and approval by the Cabinet;HAVE ORDERED AND HEREBY ORDER:

Article One – Purpose of this Order

This Order determines contributions rate to mandatory pension scheme.

Article 2 – Determination of the contribution rate

The contribution rate to mandatory pension scheme is fixed at six per cent (6%) of the remuneration subject to contribution determined by the law.The share of the employer as well as of the employee is three percent (3%) of the remuneration subject to contribution.

Article 3 – Review of the contribution rate

The contribution rate provided for under Article 2 of this Order may be reviewed on the basis of the recommendations of actuarial study of the mandatory pension scheme.

Article 4 – Authorities responsible for the implementation of this Order

The Prime Minister, the Minister of Finance and Economic Planning and the Minister of Public Service and Labour are entrusted with the implementation of this Order.

Article 5 – Repealing provision

All prior provisions contrary to this Order are repealed.

Article 6 – Commencement

This Order comes into force on the date of its publication in the Official Gazette of the Republic of Rwanda.
▲ To the top

History of this document

30 May 2016 this version
Commenced
10 May 2016
Assented to