The Australian government yesterday announced the second tranche of its "Delivering Better Financial Outcomes" reforms to ensure Australians have access to quality and affordable financial advice.
More than 40% (45.4%) of respondents to a survey think that their retirement income will be low, highlighting that their financial concerns about retirement are quite high, according to AgeSA, a private pension and life insurance company.
China's individual pension system has attracted more than 60m people as subscribers, according to data from the Ministry of Human Resources and Social Security (MoHRSS).
The Australian government has announced a package of reforms in response to the feedback received from the "Superannuation in Retirement" consultation, to ensure the superannuation system will better support Australians' needs.
The Securities and Exchange Commission of Pakistan (SECP) has re-joined the International Organisation of Pension Supervisors (IOPS) as a Governing Member, marking a pivotal step in Pakistan's commitment to strengthening the pension sector.
The premium income of China's five major listed insurance companies in the A-share market grew to CNY2,524.7bn ($348.6bn) in the first 10 months of this year, an increase of 5.67% compared with the corresponding period last year, according to financial statements filed by the companies.
The National Financial Regulatory Administration (NFRA) will encourage mainland Chinese insurers and banks to set up headquarters in Hong Kong for international operations, said the head of the regulatory agency, Mr Li Yunze.
Living annuity policyholders withdrew, on average, 6.6% of their invested capital as income in 2023, the lowest average living annuity drawdown rate recorded in the past five years.
QDM International (QDMI), which is a Florida holding company with operations primarily conducted through its indirectly wholly-owned subsidiary based in Hong Kong, has filed an application with the Securities and Exchange Commission (SEC) in the US to raise up to $8m in a listing of its common stock.
Tax incentives in the second and third pillars of China's pension system are a hot discussion topic in the pension sector.