Regulatory Alerts2025-01-01
Pension (Penalty Interest Rate for Outstanding Employer and Employee Contributions) Order 2025
Malawi’s Minister of Finance and Economic Affairs issued the 2025 Pension Order to mandate a penalty interest rate for employers and employees who fail to remit contributions on time. The order establishes this rate at the Reserve Bank of Malawi’s prevailing policy rate plus ten percent per annum, compounded daily based on the period when contributions were due. By revoking the 2011 regulations, the Order standardizes financial penalties and clarifies trustee entitlements under the Pension Act.
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