The law to introduce unemployment benefit in Cabo Verde (Cape Verde), which will be managed by the National Social Security Institute (INPS), came into effect on Monday, the archipelago’s press reported.
The executive director of INPS, Elias Monteiro, told weekly newspaper A Semana, that funding for unemployment benefit would be provided by companies and by employee payments, which would be 3 percent of total salary.
The law stipulates that the companies will pay 1.5 percent and employees 0.5 percent, with an additional 1.5 percent provided by subsidies and which will still have to be approved by members of the government responsible for social protection and Finance.
The INPS will be in charge of managing this benefit, via the Office for Social Payments, which will be responsible for processing the payment in a similar way to other benefits, including child benefit, sick pay and others.
The criteria for access to unemployment benefit are, basically, involuntary redundancy and a guarantee period (180 days of work with payslips and payment of social security). (macauhub/CV)