A Regional Guide to Retirement Plans & Schemes: Asia provides an overview of the laws relating to the regulation of retirement plans and schemes in 16 key countries, and is a valuable starting point for multinational and global employers that are developing governance and risk management structures for their retirement programs.
Although retirement plans and schemes are generally jurisdiction-specific creatures, the governance of those maintained by multinational corporations is very much a global issue. Each chapter in this publication summarises the general contours of one Asian country's social security system and employer-sponsored broad-based plans/schemes, including:
- the principal statutes governing the key features of the tax framework applicable to such plans/schemes;
- employer-funding obligations and the material rules governing plan/scheme investments;
- the employer's principal reporting and disclosure obligations,
- the circumstances in which a retirement plan/scheme may be terminated;
- the associated employer liability for any underfunded benefits;
- the portability of an employee's benefits; and
- the requirements (if any) to provide post-retirement cost of living adjustments.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
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