{"id":10993,"date":"2023-07-26T09:08:18","date_gmt":"2023-07-26T13:08:18","guid":{"rendered":"https:\/\/www.celerypayroll.com\/?p=10993"},"modified":"2023-07-26T09:08:29","modified_gmt":"2023-07-26T13:08:29","slug":"suriname-what-employers-should-know-about-the-pension-scheme-of-the-algemeen-pensioenfonds-apf","status":"publish","type":"post","link":"https:\/\/www.celerypayroll.com\/en\/blog\/general\/suriname-what-employers-should-know-about-the-pension-scheme-of-the-algemeen-pensioenfonds-apf\/","title":{"rendered":"Suriname – What employers should know about the pension scheme of the Algemeen Pensioenfonds (APF)"},"content":{"rendered":"

The General Pension Act 2014 was launched in Suriname on December 9, 2014. The implementing organization is the Algemeen Pensioenfonds (APF).<\/p>\n

It is a legal obligation for private companies to provide their employees with a pension plan with APF. Employers must process the pension premium in the payroll administration and pay the total pension premium to the APF.<\/p>\n

This scheme applies to employees aged from 18 to 60 years. The employer and the employee both pay 50% of the total pension premium. For the employee, 50% of the total pension contribution is deducted from the gross \/ taxable salary. The employer will have to pay the remaining 50% of the pension premium. The amount of the pension contribution is determined based on the employee’s gross salary.<\/p>\n

At the start of this Pension plan in January 2015, the total premium amounted to 3.0% and from 2016 the total premium has increased by 0.5% each year. As a result, the total premium is currently (in 2023) 7.0%. In 2023, both employer and employee will therefore each pay a premium of 3.5%.<\/p>\n

The law also stipulates that the total premium will increase annually by 0.5% until a total premium of 28% has been reached. This 28% will therefore only be reached in 42 years (in 2065).<\/p>\n

It is also important to know that a minimum and maximum premium and base salary applies. For example, the pension premium must be calculated annually at a minimum of SRD 6,000 wages per employee. On a monthly basis, this concerns a minimum basis of SRD 500 per month. So even if an employee earns less than SRD 500 in a month, the pension premium will have to be calculated based on SRD 500 per month.<\/p>\n

The maximum pension base is SRD 60,000 per year. So, for employees that earn SRD 5,000 (or more) per month, the pension premium will have to be calculated monthly on a maximum of SRD 5,000. In 2023, this amounts to a maximum premium of SRD 700 per month, divided 50\/50 or SRD 350 per month for both employer and employee.<\/p>\n

This APF Pension plan can be created in Celery under Employer\/Pension Plans and linked to all employees with at the touch of one button.<\/p>\n

\"Settings<\/a><\/p>\n

And on January 1st of each year, in this Pension Plan you increase the premium for both employer and employee by 0.25% (total of 0.5% increase) and as soon as you save that change, also the pension premium is adjusted at the touch of one button for all linked employees.<\/p>\n

In this way, Celery makes it very easy for you!<\/p>\n","protected":false},"excerpt":{"rendered":"

The General Pension Act 2014 was launched in Suriname on December 9, 2014. The implementing organization is the Algemeen Pensioenfonds (APF). It is a legal obligation for private companies to provide their employees with a pension plan with APF. Employers must process the pension premium in the payroll administration and pay the total pension premium […]<\/p>\n","protected":false},"author":11,"featured_media":10994,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[24,25,27],"tags":[],"country":[37],"target":[40,41,39,38],"class_list":["post-10993","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","category-legislation-and-regulations","category-salary","countries-sr","targets-account-enduser","targets-account-reseller","targets-employee-enduser","targets-employee-reseller"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.celerypayroll.com\/en\/wp-json\/wp\/v2\/posts\/10993","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.celerypayroll.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.celerypayroll.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.celerypayroll.com\/en\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.celerypayroll.com\/en\/wp-json\/wp\/v2\/comments?post=10993"}],"version-history":[{"count":1,"href":"https:\/\/www.celerypayroll.com\/en\/wp-json\/wp\/v2\/posts\/10993\/revisions"}],"predecessor-version":[{"id":10997,"href":"https:\/\/www.celerypayroll.com\/en\/wp-json\/wp\/v2\/posts\/10993\/revisions\/10997"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.celerypayroll.com\/en\/wp-json\/wp\/v2\/media\/10994"}],"wp:attachment":[{"href":"https:\/\/www.celerypayroll.com\/en\/wp-json\/wp\/v2\/media?parent=10993"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.celerypayroll.com\/en\/wp-json\/wp\/v2\/categories?post=10993"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.celerypayroll.com\/en\/wp-json\/wp\/v2\/tags?post=10993"},{"taxonomy":"countries","embeddable":true,"href":"https:\/\/www.celerypayroll.com\/en\/wp-json\/wp\/v2\/country?post=10993"},{"taxonomy":"targets","embeddable":true,"href":"https:\/\/www.celerypayroll.com\/en\/wp-json\/wp\/v2\/target?post=10993"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}