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APAC Retirement Legislative Updates

Below you will find recent legislative developments from across the APAC region, with a focus on retirement.

Country DateTopicHeadline Expected ImpactRead More
AustraliaMarch 2024Risk managementProposed amendments to Prudential Standard SPS 114 operational risk financial requirement and its associated guidanceHighhttps://aon.io/3TjXI0C
March 2024Social security changeSuperannuation on paid parental leaveMediumhttps://aon.io/497edSk
March 2024GovernanceWork Bonus policy changesMediumhttps://aon.io/3P2q3Wv
February 2024GovernanceUnderpayment of wages by employersHighhttps://aon.io/3ucRB4t
February 2024Social security changeNational Employment Standards (NES) Superannuation ContributionsMediumhttps://aon.io/3UkGReZ
December 2023GovernanceGuidance on the registration of financial advisersMediumhttps://aon.io/3uVp7wa
December 2023Pension plan benefitsSuperannuation systemMediumhttps://aon.io/3RvBUwR
October 2023GovernancePrudential Standard CPS 511 Remuneration updatesMediumhttps://aon.io/3rHnBwc
August 2023Taxation / Social security changeRates for super contributions and drawdownMediumhttps://bit.ly/3rXnWdY
August 2023Investment policyFinal investment governance guidanceMediumhttps://bit.ly/3DSdwiF
July 2023GovernanceFair Work Legislation Amendment (Protecting Worker Entitlements) Act 2023Highhttps://aon.io/3q2Kjhs
July 2023Social security changePrimary changes to superannuationHighhttps://aon.io/3PVcp9e
April 2023GovernanceAnnual superannuation performance test consultationMediumhttps://aon.io/41WfcSa
April 2023Taxation / Social security changeKey super rates and thresholds for contributionsMediumhttps://aon.io/3oLspyX
BangladeshOctober 2023State pension reformUniversal Pension SchemeHighhttps://aon.io/404WZlT
April 2023State pension reformEstablishment of National Pension AuthorityMediumhttps://aon.io/3AhDEkZ
ChinaMay 2023Social security changeAnnouncement on the Continuation of the Preferential Policy on Employment Security Funds for the DisabledMediumhttps://aon.io/44ncuHm
GeorgiaDecember 2023Investment policyOn Accumulated Pension Law changesMediumhttps://aon.io/46RsIZj
Hong KongAugust 2023GovernanceAbolition of offsetting arrangementMediumhttps://bit.ly/47iHoly
July 2023GovernanceElectronic Mandatory Provident Fund (eMPF) Platform updateMediumhttps://aon.io/3KfmqdB
May 2023State pension reformOffsetting scheme will endMediumhttps://bit.ly/43805pr
IndiaFebruary 2024Social security changeAnnual interest rate for Employees Provident Fund (EPF) accountsMediumhttps://aon.io/3Tdjdju
February 2024GovernancePension on Higher Wages requirement extensionMediumhttps://aon.io/4bo431X
February 2024GovernancePayment of Gratuity Act/Benefits AlertMediumhttps://aon.io/48yDaWH
December 2023Pension plan benefitsFacility of Systematic Lump Sum WithdrawalMediumhttps://aon.io/3RCfSc2
November 2023State pension reformExtension of timeMediumhttps://aon.io/3SsDK3F
August 2023Taxation / Social security changeTax exemption limit for encashment of earned leavesMediumhttps://bit.ly/3sdgo75
May 2023Social security changePension Fund Regulatory and Development Authority (National Pension System Trust) (Amendment) Regulations, 2023Mediumhttps://aon.io/3Mtv8VU
April 2023GovernanceMinistry of Labour & Employment (MOLE) AnnouncementsMediumhttps://aon.io/410EcHp
IndonesiaJanuary 2024Taxation2024 tax withholding ratesMediumhttps://aon.io/3HrPflc
IsraelJanuary 2024Pension plan benefits2024 pension limits and allowancesMediumhttps://aon.io/3vOvzFF
November 2023GovernanceMonthly Retirement UpdateMediumhttps://aon.io/47OEgNV
September 2023GovernanceRetirement Update (1)Mediumhttps://aon.io/3Pkmpqu
KazakhstanSeptember 2023Social security changeProposed budget measuresMediumhttps://aon.io/3LxgeOF
LebanonFebruary 2024State pension reformPension system for private sector workersHighhttps://aon.io/3uEJZrP
MalaysiaFebruary 2024Social security changeEmployees Provident Fund (EPF) policy improvements for retirementMediumhttps://aon.io/3UNJp5I
October 2023Social security changeRetirement measures proposedMediumhttps://aon.io/3QFdG4h
June 2023TaxationFinance Act 2023Mediumhttps://aon.io/46eCbL4
New ZealandFebruary 2024GovernanceThe Employment Relations (Protection for Kiwisaver Members) Amendment Bill updateMediumhttps://aon.io/3TnUWYp
September 2023Social security changeThe Employment Relations (Protection for KiwiSaver Members) Amendment BillHighhttps://aon.io/45NHS1U
April 2023Taxation / Social security changeTaxation (Annual Rates for 2022–23, Platform Economy, and Remedial Matters) Act 2023Mediumhttps://aon.io/3navI23
OmanSeptember 2023Pension plan benefitsDecree No. 52 of 2023Highhttps://aon.io/3EAMTix
PhilippinesMarch 2024Taxation / Social chargesProposed tax measuresMediumhttps://aon.io/49bUG3k
SingaporeNovember 2023Social security changeCentral Provident Fund (Amendment) Bill 2023Highhttps://aon.io/47cRCUl
November 2023GovernanceNational Wages Council Guidelines for 2023/2024Mediumhttps://aon.io/3QD2Haa
October 2023Taxation / Social security changeBudget proposalMediumhttps://aon.io/3Fmti65
June 2023Taxation / Social security changeBudget measures for employersMediumhttps://aon.io/3Pu9qEp
SingaporeFebruary 2024Taxation / Social security change2024 budget measuresMediumhttps://aon.io/3UUwPkU
South KoreaJuly 2022Investment policyEmployee Retirement Benefit Security Act amendmentsHighhttps://aon.io/3zwHY0h
ThailandNovember 2023Social security changeNew elderly allowance requirementsMediumhttps://aon.io/3SuDUrq
TurkeyJanuary 2024Social security changeMinimum and maximum limits of salaries subject to social security contributionMediumhttps://aon.io/48VEYK0
November 2023State pension reformRegulation on Partial Payment in the Private Pension SystemMediumhttps://aon.io/3MqddQG
TurkmenistanAugust 2023GovernanceWage and pension amount increaseMediumhttps://bit.ly/45taVat
United Arab EmiratesMarch 2024GovernanceDubai International Financial Centre (DIFC) Law Amendment Law, No. 1 of 2024Mediumhttps://aon.io/49fkcoj
January 2024Social security changeDecree Law No. (57) of 2023 provisionsHighhttps://aon.io/3RZIsUF
September 2023GovernanceOptional System for End-Of-Service GratuitiesMediumhttps://aon.io/44YXcrs
June 2023Taxation / Social security changeMinisterial Decision No. 115 of 2023 on Private Pension Funds and Private Social Security FundsMediumhttps://aon.io/3qYmCHc
UzbekistanDecember 2023Taxation / Social security changeNew pension amounts and monthly salaryMediumhttps://aon.io/3NoQMMt
VietnamJuly 2023Social security changeDraft Law on Social Insurance (amended)Highhttps://aon.io/46Y2G7W

 

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