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International Wealth Solutions

APAC Retirement Legislative Updates

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

Country Date Topic Headline Expected Impact Read More
Armenia December 2022 Governance Proposed measures Medium https://aon.io/3Fd2XYI
Azerbaijan October 2022 Governance Employment-related laws Medium https://aon.io/3SJzUQo
Australia July 2023 Governance Fair Work Legislation Amendment (Protecting Worker Entitlements) Act 2023 High https://aon.io/3q2Kjhs
July 2023 Social security change Primary changes to superannuation High https://aon.io/3PVcp9e
April 2023 Governance Annual superannuation performance test consultation Medium https://aon.io/41WfcSa
April 2023 Taxation / Social security change Key super rates and thresholds for contributions Medium https://aon.io/3oLspyX
March 2023 Taxation / Social security change Proposed changes in superannuation tax breaks Medium https://aon.io/3ld5j2K
February 2023 Pension plan benefits The Social Services and Other Legislation Amendment (Incentivising Pensioners to Downsize) Bill 2022 Medium https://aon.io/3JQ3SkA
November 2022 Governance 2022-23 Budget proposals High https://aon.io/3UkuoVH
September 2022 Pension plan benefits Social Services Legislation Amendment (Enhancing Pensioner and Veteran Workforce Participation) Bill 2022 Medium https://aon.io/3BN7kXS
September 2022 Taxation / Social security change The Social Services and Other Legislation Amendment (Incentivising Pensioners to Downsize) Bill 2022 Medium https://aon.io/3Cc7E3M
August 2022 Governance Financial hardship requests Medium https://aon.io/3Kgo0e2
August 2022 Retirement age Reduction in the eligibility age for downsizer contributions Medium https://aon.io/3d3HoOT
July 2022 Governance Regulatory Guide 276 Superannuation forecasts Medium https://aon.io/3ocuBMr
July 2022 Social security change Super changes Medium https://aon.io/3ICLkBN
Bangladesh April 2023 State pension reform Establishment of National Pension Authority Medium https://aon.io/3AhDEkZ
China May 2023 Social security change Announcement on the Continuation of the Preferential Policy on Employment Security Funds for the Disabled Medium https://aon.io/44ncuHm
February 2023 State pension reform Third-Pillar Pension Program High https://aon.io/3jE14wt
December 2022 Taxation / Social security change Tax policies for personal pensions Medium https://aon.io/3VfzoeY
October 2022 Taxation / Social security change Tax concessions for private pension schemes Medium https://aon.io/3RRanUU
Hong Kong July 2023 Governance Electronic Mandatory Provident Fund (eMPF) Platform update Medium https://aon.io/3KfmqdB
May 2023 State pension reform Offsetting scheme will end Medium https://bit.ly/43805pr
February 2023 Social security change Increase in payment rates and allowance Medium https://aon.io/3JwJ1D0
India May 2023 Social security change Pension Fund Regulatory and Development Authority (National Pension System Trust) (Amendment) Regulations, 2023 Medium https://aon.io/3Mtv8VU
April 2023 Governance Ministry of Labour & Employment (MOLE) Announcements Medium https://aon.io/410EcHp
February 2023 Taxation / Social security change Union Budget 2023-24 Medium https://aon.io/38Cskk6
February 2023 Governance Re-examination of cases of pension Medium https://aon.io/3K8qld9
February 2023 Pension plan benefits Instructions in compliance with orders issued by court High https://aon.io/3CXLbY5
January 2023 Governance Labour Codes Medium https://aon.io/3X61FVw
January 2023 Social security change Higher pension resulting from Supreme Court 4 November, 2022 Ruling High https://aon.io/3CXLbY5
October 2022 Governance Circular issued on withdrawal of prosecution cases related to non-submission of Know Your Customer (KYC) Medium https://aon.io/3CBpWdu
September 2022 State pension reform Minimum and maximum commission chargeable on National Pension Scheme (NPS) account contributions Medium https://aon.io/3BctYbS
July 2022 Governance Labour Code Amendments Medium https://aon.io/3IWOPU0
Israel January 2023 Governance Regulatory retirement updates High https://aon.io/3W4rhRM
January 2023 Taxation / Social security change Contribution limits and allowances High https://aon.io/3XSIoYf
Japan November 2022 Pension plan benefits Relaxation of iDeCo membership requirements for corporate DC subscribers High https://aon.io/3AlHp9D
Kazakhstan January 2023 Taxation / Social security change Single Payment on Payroll in 2023 introduced Medium https://aon.io/3QKASfH
November 2022 Governance The republican budget for 2023-2025 Medium https://aon.io/3X3btAC
Kyrgryzstan December 2022 Pension plan benefits Rates of insurance premiums for foreigners and citizens of Kyrgyzstan Medium https://aon.io/3UXue6m
Malaysia June 2023 Taxation Finance Act 2023 Medium https://aon.io/46eCbL4
New Zealand April 2023 Taxation / Social security change Taxation (Annual Rates for 2022–23, Platform Economy, and Remedial Matters) Act 2023 Medium https://aon.io/3navI23
Philippines January 2023 State pension reform Worker’s Investment and Savings Program (WISP) Plus High https://aon.io/3GEvW7E
August 2022 Pension plan benefits Increase in monthly pensions for indigent citizens Medium https://aon.io/3PuwFuc
July 2022 Governance Social Security System (SSS) planning to launch two new programs Medium https://aon.io/3zaLaNV
July 2022 State pension reform Social Pension Program for Indigent Senior Citizens reform Medium https://aon.io/3PmlZi3
Qatar October 2022 State pension reform New Social Insurance Law (Qatar Law No. 1 of 2022) High https://aon.io/3CAW9Dg
Singapore June 2023 Taxation / Social security change Budget measures for employers Medium https://aon.io/3Pu9qEp
March 2023 Social security change Central Provident Fund (CPF) contributions Medium https://aon.io/3ykSvKE
December 2022 Social security change 2023 Central Provident Fund Board (CPF) rates and basic healthcare sum Medium https://aon.io/3hvbcGB
South Korea July 2022 Investment policy Employee Retirement Benefit Security Act amendments High https://aon.io/3zwHY0h
Turkey March 2023 Retirement age Law No. 7438 Amending the Social Security and General Health Insurance Law and Decree No. 375 Medium https://aon.io/3LKRzXV
United Arab Emirates June 2023 Taxation / Social security change Ministerial Decision No. 115 of 2023 on Private Pension Funds and Private Social Security Funds Medium https://aon.io/3qYmCHc
Uzbekistan October 2022 Taxation / Social security change Minimum contribution amount for social tax Medium https://aon.io/3Cbazs2
Vietnam July 2023 Social security change Draft Law on Social Insurance (amended) High https://aon.io/46Y2G7W


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