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This study presents a range of indicators to enable comparisons between the pension systems of economies in the Asia/Pacific region. It also includes data for key countries that are members of the Organisation for Economic Co-operation and Development (OECD). It builds on the first Pensions at a Glance: Asia/Pacific which was also a joint project between the World Bank and the OECD, along with the OECD/Government of Korea Research Centre on Health and Social Policies (RCHSP) and updates the 2013 edition.
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The biggest challenges facing pension systems in non-OECD Asian economies are rapid population ageing and low coverage, both for those receiving benefits and those contributing to the pension systems. Efforts to close the coverage gap by expanding eligibility to larger shares of the labour force or through non-contributory pensions are at the heart of most discussions. Increasing life expectancy will jeopardise financial sustainability as people live longer in retirement and the number of pensioners relative to contributors grows. However, as in other regions, pension reform is politically challenging as is often entails unpopular measures, such as increasing the retirement age, lowering benefits or increasing contribution rates.
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