A law on social security scheme has been promulgated by a Royal Kram on November 2, 2019.
The aim of this law is to establish a social security scheme for Cambodian citizens, in order to ensure greater equity and solidarity within the society and to provide better living conditions. This law targets 4 social schemes that need to be improved; pension, health care insurance, occupational risks and unemployment.
Under this law, employers will have to register their companies and employees with the National Social Security Fund (NSSF) and collect the company and employee social security scheme contributions to be paid to the NSSF.
Under the new scheme, employers and employees must make contributions to the pension, health insurance and unemployment schemes. However, for occupational risks the contribution is mandatory, but only for the employer.
The above plans, with the exception of the unemployment plan, are mandatory in both public and private sectors. According to the official announcement, the pension scheme will be implemented in early 2020. Currently, the company is required to make contributions to the NSSF for its employees only for occupational risk insurance and health insurance.
Source : Bun & associates