OJK Updates Provisions on Pension-Fund Premiums and Benefits

In order to ensure the fitness and continuity of payments to retirees as a part of efforts to offset the ongoing development of benefits under the Indonesian manpower system,[1] the Financial Services Authority (Otoritas Jasa Keuangan – “OJK”) recently updated provisions on pension funds, as originally addressed under Regulation No. 5/POJK.05/2017 on Premiums, Pension Benefits and Other Benefits Organized by Pension Funds (“Regulation 5/2017”),[2] through the issuance of Regulation No. 60/POJK.05/2020, which amends Regulation 5/2017 (“Amendment”).