With our 20+ years experience with Expats in Jakarta, we can see that the common confusion around expat pensions relate to the following issues:
How Pensions Differ for Expats
In most cases, expatriates in Jakarta are treated quite differently to domestic employees. On top of the contractual differences, pensions are often not included in expat packages as they are expected to be sourced privately.
Expatriate pensions are specifically designed to work around the needs of an expat, particularly the portability of the plan to accommodate the frequent movements of expats.
When to Start a Pension
In most cases, the answer is yesterday. The majority of expatriates we speak with leave saving for their pension too late. Starting as early as possible will always command the best rewards later in life.
How Much to Contribute to a Pension
The contributions for your pension should always be affordable and never be a struggle. We would usually suggest somewhere between 25-50% of your current income, however circumstances of expats differ greatly.
Which Provider to Choose for an Expat Pension
There are a handful of good providers for expat pensions that GMS would recommend. The best fit really depends on your exact circumstances.
Who Can I Talk to About an Expat Pension?
GMS offer a 30 minute FREE consultation to expatriates in Jakarta with one of our experts. This can be conducted via telephone or in person, schedule permitting.
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