Global News Briefs - Towers Watson - Willis Towers Watson

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Updates on timely compensation and benefit issues around the world; delivers news as changes occur and aggregates the updates in a monthly newsletter
Audience: Benefit, compensation, retirement and reward professionals

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- Georgia: Compulsory employer- and employee-funded pension savings plans announced
  October 2, 2018
  
  Referred to as the “Accumulated Pension System,” Georgia’s public retirement savings plan is scheduled to launch on January 1, 2019.
- Brazil: New data privacy regime — Lei Geral de Proteção de Dados Pessoais (LGPD) — coming in 2020
  October 2, 2018
  
  An encompassing new data privacy regime, modeled after the EU’s GDPR, will significantly impact companies in Brazil and require preparation to ensure compliance.
- Global: Spain increases paternity leave again, one of many countries offering leave for new parents
  August 31, 2018
  
  Spain joins a growing list of countries that have enacted or proposed increases and enhancements in maternity and paternity leave over the past 12 to 18 months.
- Italy: Tighter rules for fixed-term employment contracts and higher indemnities for unfair dismissals
  August 21, 2018
  
  Italy’s parliament has passed legislation to implement the Dignity Decree, tightening rules for fixed-term employment and indemnities for unfair dismissals.
- Germany: New demographic tables increase pension liabilities
  August 9, 2018
  
  In the new demographic tables Heubeck 2018 G, German mortality rates are much lower, potentially increasing pension liabilities.
- Hungary: Tax bill would reduce tax allure of flexible benefits
  July 30, 2018
  
  A tax reform bill in Hungary would eliminate personal income tax breaks starting in January 2019 for many benefits included in employers’ flexible benefit plans.
- Japan: Changes to working hour limits approved
  July 26, 2018
  
  Japan’s Diet recently passed the “Work Style Reform Bill,” most significantly limiting the amount of overtime employees are able to perform.
- Poland: Update — Progress on legislation for mandatory enrollment in retirement savings plans slows to a crawl
  July 13, 2018
  
  A proposed bill in Poland would require most companies to enroll employees in new supplemental, DC retirement vehicles or establish a voluntary company pension plan.
- Bahrain: New national health insurance law imposes a universal health insurance mandate beginning in 2019
  July 2, 2018
  
  A new law in Bahrain will launch a national health insurance system for the entire population beginning in 2019, with many details still to be worked out.
- European Union: Compliance with EU Directive could significantly impact employer retirement plans
  June 29, 2018
  
  National legislation transposing the EU Mobility Directive may have a significant impact on employer pension plans in select markets.
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