Description

The Private Organization Employees’ Pension Proclamation No. 715/2011 is a law in Ethiopia that sets out the pension system for employees in the private sector. The regulation provides retirement, invalidity, and survivors’ benefits to eligible employees. According to the proclamation, the retirement age of an employee of a private organization is 60 years based on the date of birth registered when they were employed for the first time. The benefits available under the proclamation are the retirement pension, invalidity pension, incapacity pension or survivors’ pension and gratuity. The proclamation requires private organizations to contribute to a pension fund for their employees.