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Following the enactment of the Workers' Rights (Portable Retirement Gratuity Fund) (Amendment) Regulations 2020, employers are required to make PRGF contributions as from January 2022. This is an employer-only charge.

PRGF contributions are payable at the prescribed rate on the worker's monthly remuneration. The monthly remuneration is the sum total of the monthly basic wages paid to a worker, any productivity bonus, attendance bonus and payment for extra work performed.

Note that an employer who contributes to a private pension scheme, approved by the FSC, in respect of a worker, is not required to contribute to PRGF in respect of that worker.

The PRGF is a fund established under the Workers' Rights Act 2019 for the purpose of providing for the payment of a gratuity as follows:

1. Ìý

   •ÌýÌýÌýÌý to a worker on their retirement

2. Ìý

   •ÌýÌýÌýÌý to the legal heirs of a worker on the death of the worker

3. Ìý

   •ÌýÌýÌýÌý to a self-employed person who has contributed to the PRGF, on their retirement

4. Ìý

   •ÌýÌýÌýÌý to the legal heirs of a self-employed