Amendment to the Labor Standards Act published on February 4, 2015 provides that: (1) The priority of labor claims, including claims for six months wage arrears, claims for pensions under the Labor Standards Act, and claims for severance pay, ranks pari passu with claims secured by mortgage, pledge or lien. (2) The coverage of the wage arrears payment fund is extended to pensions under the Labor Standards Act and to severance payments under the current and the old systems. Total amount payable is not to exceed the six-month average wage. (3) Employers failing to provide adequate funds to the employees’ retirement fund for those who will be retired within one year shall be subject to fines. (4) Employers failing to pay severance or pensions in accordance with law shall be subject to enhanced punishment.