Enhanced Paternity Leave

As part of the continuous efforts to support the employees and their families, effective 1st January 2024 PGIM has introduced a new global minimum of 10 weeks fully paid leave for all parents welcoming a child through birth or adoption. For employees in Luxembourg, this will mean an increase of 8 weeks fully paid leave for partners from the current 2 weeks.

Historically, paternity leave provisions have varied significantly across jurisdictions, often offering limited support to partners. Recognising the evolving needs of modern families and the importance of shared caregiving responsibilities, PGIM has taken a bold step to harmonise and enhance its global policy.

- Promote gender equality in caregiving roles
- Support employees during major life transitions
- Foster a family-friendly workplace culture
- Align with global best practices in parental leave
- Enhance employee retention and satisfaction

The policy was developed through collaboration between different teams globally, with a focus on equity,inclusion, and employee wellbeing. It applies to all eligible employees globally, with implementation starting from 1 January 2024. Employees are encouraged to notify their manager and HR early to ensure smooth planning and support.

Since its launch, four employees in Luxembourg have already benefited from the enhanced paternity leave policy. The change has significantly improved partner support, increasing paid leave from 2 to 10 weeks. Feedback from employees has been very positive, highlighting improved work-life balance and a stronger sense ofinclusion.