PHNOM PENH: The Minister of Economy and the Minister of Labor have signed and announced the implementation of a social security system of pensions for individuals under the provisions of the Labor Law, meaning that from now on, private sector employees will also receive pensions like employees of the government.

Article 2 of the inter-ministerial letter states, "The social security system for pensions for individuals under the provisions of the Labor Law shall be implemented from 1 July 2022 onwards."

It should be noted that the sub-decree on the social security system for pensions for individuals under the provisions of the Labor Law, regarding pensions for private sector employees, was first established by the government on 4 March 2021.

The sub-decree aims to introduce a social security system of pensions for individuals under the provisions of the Labor Law, including individuals working in two or more places.