OUR CALL CENTRE
Trust you are doing great.
This is to formally inform you about the New Pension Reform Act that was recently passed into law on June 3, 2014 which states that the employee is to contribute 8% of their total emolument as against the previous 7.5% and the employer is to pay 10% of the total emolument as against 7.5%.
Please note that your Employer has taken up the responsibility to pay the extra 2.5%. However, the 0.5% will be taken out of your net monthly salary. To this end, there will be a slight reduction in the net monthly package of all employees effective July, 2014.
We understand that this would have an impact on your monthly take home, however below is the benefit of the contribution to the employee:
Thank you for your understanding.