Address
Kwattaweg 51, 2nd Floor
Paramaribo-Suriname

Work Hours
Monday to Friday
8AM - 4PM

Suriname: Labor Law Related Amendments

On September 8th, 2023, several labor-related laws have been amended in Suriname. Read below this article to find out more.
word-bylaws-made-from-square-letter-tiles-with-gav-2022-09-27-18-25-30-utc

Suriname: Labor Law related Amendments

On September 8th, 2023, several labor-related laws have been amended in Suriname.

 
The amended laws concern the following:
  1. State Decree of August 7, 2023, regarding the implementation of Article 7 paragraph 10 of the General Pension Act 2014 (S.B. 2014 no. 113), also known as the Pension Benefit Indexation Decree;
  2. State Decree of August 7, 2023, regarding the implementation of Article 8, paragraph 6 of the General Pension Act 2014 (S.B. 2014 no. 113);
  3. Act of August 30, 2023, further amending the Labor Disputes Act 1946 (G.B. 1946 no. 104, as amended by G.B. 1948 no. 8);
  4. Act of August 30, 2023, containing further amendments to the Labor Act 1963 (G.B. 1963 no. 163, as last amended by S.B. 2018 no. 76);
  5. Act of August 30, 2023, containing further amendments to the Vacation Law 1975 (S.B. 1975 no, 164c);
  6. Act of August 30, 2023, containing further amendments to the Labor Accident Regulations (G.B. 1947 no. 45, as lastly amended by S.B. 2007 no. 111); and
  7. Act of August 30, 2023, containing further amendments to the Work Safety Law 1947( G.B. 1947 no. 142, as lastly amended by S.B. 1980 no. 116).

Below we will note the relevant changes per item:

Ad 1. The amendment of the Pension Benefit Indexation Decree as laid down in the State Decree of August 7, 2023, regarding the implementation of Article 7 Paragraph 10 of the General Pension Act 2014 (S.B. 2014 no. 113) states that the index of the pension benefits has been set at SRD 450 as of January 1, 2023 (retroactively). The pension benefit of participants for the period January 2023 until December 2025 which is higher than SRD 300 is corrected and is increased to an amount of minimum SRD 1,350 per month. The indexation only applies to pension benefits of participants of the General Pension Fund.
 
Ad 2. In the State Decree of August 7, 2023, regarding the implementation of Article 8 Paragraph 6 of the General Pension Act 2014 (S.B. 2014 no. 113), the minimum contribution basis has increased from SRD 500 to SRD 2,250 per month and the maximum contribution base has been increased from SRD 5,000 to SRD 22,500 per month. The increased contribution works retroactively to January 1st, 2023.
 
Ad 3 – ad 7
The amendments laid down in ad 3 – ad 7 consist of fines for violations of the respective laws. Instead of the peculiar fine amount, the amounts are now aligned with the fines determined in the first or second category of the Criminal Law.
 
Please feel free to reach out to us in case you have any queries.
 
Contact us

Share with others:

Email
Facebook
LinkedIn
WhatsApp

Leave a Reply

Your email address will not be published. Required fields are marked *

Receive the latest news

Subscribe To Our Newsletter

Get notified about new articles