The Liberian government enacted the New Chapter 89 to repeal Decree N0. 14 of the People’s Redemption Council of the Armed Forces of Liberia in December 2016. The New Chapter 89 replaces old Chapter 89 of the Executive Law establishing the National Social Security and Welfare Corporation (NASSCORP) of the Republic of Liberia. The New Chapter 89 became effective February 13, 2017 upon publication into handbill. However, the implementation of the New Law is expected to begin for the July 2017 reporting month.
The New Chapter 89 increases the contribution rate to 10% from 7%, eliminates refund options for contributions to the scheme and expands the coverage of employers required to register with NASSCORP, among other new changes.