As of March 2024, the estimated population of Liberia is 5,418,377.
The currency in Liberia is the Liberian Dollar (LRD). The currency symbol is $.
Liberia's Decent Work Act defines full-time employees as those who work 5 days a week for 40 hours or 6 days a week for 48 hours. Employment contracts of an indefinite duration are considered permanent contracts. Employers are not to hire employees on a fixed-term contract for tasks of a permanent nature. Both the employer and employee may end employment contracts after giving notice. Employers can terminate permanent employees' contracts for just cause based on ability and conduct of the employee, or operational requirements of the business.
The Decent Work Act provides that an employment contract can be oral or written. It explicitly outlines the provisions for what is to be included in a contract. If a contract is made verbally, the employer must provide a written statement that contains the required employment conditions. Employers must keep a copy of the written contract or the written statement throughout the employment period and for 5 years after its termination.
Casual employees are differentiated from full-time, part-time, or fixed-term employees, as they are hired on an hourly basis. If a casual employee is regularly hired by the same employer for several employment periods over 6 months, they become entitled to be hired as a full-time or part-time employee, depending on the number of hours the employee is usually engaged to work. All casual employees have the right to receive minimum wage.
The probationary period can last a maximum of 3 months. An employee can be dismissed without notice during probation.
Liberia's labor law states that the standard workweek is limited to 48 hours and that workdays are limited to 8 hours per day. Under exceptional circumstances, employees may be required to work overtime for up to 5 hours a week, averaged out over a period of 4 months. An employee who has not yet attained the age of 16 years cannot be employed for more than 7 hours in a day or for more than 42 hours in any working week.
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Every employee is entitled to paid annual leave as follows: During the first year of employment with an employer - 1 week During the second year of employment with an employer - 2 weeks After 36 months of employment with an employer - 3 weeks After 60 months of employment with an employer - 4 weeks Weekly rest days and public holidays are not considered a part of annual leave. Employees under the age of 18 years are granted an extra week of annual leave. The annual leave of employees in Liberia may accumulate from year to year, yet the total accumulation may not exceed 3 years’ accumulation of unused leave.
In Liberia, employees are entitled to 10 days of annual sick leave for every year of continuous service to their employer. An employee’s sick leave entitlement accumulates in the same way as their general annual leave; however, they cannot receive compensation at the end of their employment contract for sick days accumulated but not taken. Sick leave provisions dictate that employees are required to give as much notice as is reasonably possible of their intention to exercise their entitlement to paid sick leave. They must also provide a medical note. Employees are eligible for a maximum of 3 unverified sick days within a 12-month period if they are unable to obtain medical documentation corroborating their illness or injury. Sick leave is paid in the same way as a normal workday.
Employed women in Liberia are entitled to a minimum of 14 weeks of paid maternity leave, provided that they take a minimum of 6 weeks immediately following the birth of their child. Employees on maternity leave are compensated at the same rate at which they would have been paid during their normal working hours. Pregnant women cannot be employed to perform work that is hazardous to their health or their child's health. Employment continues unbroken during any period of maternity leave. Employees are also entitled to an extended unpaid maternity leave of up to one month if any complications arise from the pregnancy or delivery, as certified by a medical practitioner.
Fathers are given 5 unpaid days leave upon the birth of a child, which must be taken within 1 month from childbirth. As polygamy is legal in Liberia, an employee will have to indicate to which of his wives' children the paternity leave will apply before claiming entitlement to his paternity leave. He cannot leave for the birth of children born to more than 1 wife.
Under Liberia's labor law, any employee who has completed their probationary period is entitled to a certain period of notice from their employer before their employment contract is terminated. The provisions for the length of notice vary depending on the amount of time an employee has continuously worked for the employer as follows: Less than 3 months of employment - 1 week 3 to 6 months of employment - 2 weeks 6 to 12 months of employment - 3 weeks More than 12 months of employment - 4 weeks Notice period can be waived by paying regular wages equivalent to the duration of notice period.
In Liberia, employees are entitled to severance pay if they are dismissed due to economic reasons. Severance pay is paid as 4 weeks' salary for each completed year of service. The law does not provide for severance pay in case of termination due to other reasons.
Employees who retire at the age of 60 and have paid at least 100 (for employees born before 1980) or 144 (for employees born after 1980) monthly contributions are eligible for a retirement pension. The amount of retirement pension is 25% of the average salary, increased by 1% for every ten months of contributions paid in addition to 100 or 144 months. The maximum monthly pension amount is 40% of the average salary. The maximum pension amount is the equivalent of USD 5,000 (American dollars) per month in Liberian dollars. If a person fails to make the 100 monthly contributions but paid at least 12 monthly contributions, they are entitled to a lump sum Retirement Grant equal to the total amount of contributions made plus accrued interest. The sources of funds include contributions made by employers and employees.
Liberia's National Social Security and Welfare Corporation (NASSCORP) is responsible for providing benefits to survivors of a deceased insured employee who had paid at least 50 monthly contributions. The benefits are paid to the deceased member's widow or widower and to their children under 21 years of age. Benefits are paid as a lump sum. A widow or widower receives an amount equal to 50% of the total annuity value of the pension that the deceased was entitled to at the time of death, based on their life expectancy, whereas 10% is paid to a child (a maximum of 50% is paid to all children). The sources of funds include contributions made by employers and employees. If there are no surviving spouse and children, parents of the deceased become entitled to the spouse's benefits. The total benefits paid to survivors are equal to 100% of the pension that the deceased was entitled to at the time of death. In case of death due to work accidents or diseases, the widow or widower receives 20% of the deceased insured person's average monthly earnings, and children receive 10% of the average earnings each, not exceeding 30%. In the absence of a spouse and children, parents of the deceased receive 20% of the earnings. These benefits are paid by contributions made by employers.
Liberia's National Social Security and Welfare Corporation (NASSCORP) covers disability benefits for insured members who become permanently incapable of work before age 60 because of a disease or disablement that is not job-related. To be eligible, the member must have paid at least 50 monthly contributions during the 60 months preceding the month of disability or at least 2/3rds of the number of months from their date of joining to the accident date. The disability pension amount is equal to 25% of the average salary, increased by 1% for every ten months of contributions paid in excess of 50 months. The monthly pension amount is limited to a maximum of 40% of the average salary. The sources of funds include contributions made by employers and employees. Employees who suffer disability due to work-related accidents or diseases are eligible to receive temporary disability or permanent disability pensions of 65% of their average earnings. An additional allowance is paid to persons requiring constant attendance. These benefits are paid through contributions made by employers.
The taxable period for individuals in Liberia is the calendar year, from January 1 through December 31. Residents are taxed on global and Liberian income, while non-residents only pay tax on the income received from sources in Liberia. Income tax rates for residents are progressive from 0% to 25%, while non-residents are taxed at a flat rate of 20%.
The following types of visa are applicable in Liberia:
Persons from countries other than ECOWAS (Economic Community of Western African States) must obtain a visa to enter Liberia.
Foreign nationals can only work in Liberia if they have a local sponsor and work permit. Work permits are issued by the Ministry of Labor once it is determined that there is no suitably qualified Liberian available to carry out the work. The employer is responsible for the expense of the employee traveling to the place of work in Liberia from their country of origin or residence, depending on whichever is closer.
