Luxembourg: Kleyr | Grasso Explains Draft Bill No.7324
Kleyr Grasso’s recent article explains how draft bill no. 7324, which aims to establish time saving accounts in the private sector, was put to the Chamber of Deputies’ vote on 12 March 2019. The law dated 12 April 2019, published on 24 April 2019 in the official Gazette (number 262), has now implemented the new legal provisions. The law entered into force 3 on 27 April 2019. It is important to remember that the establishment of such a system is not mandatory. Provisions contained in a collective bargaining agreement (signed prior to the entry into force of the law) remain applicable as long as the collective bargaining agreement is valid.
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