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Pensions at a Glance Asia/Pacific 2018

image of Pensions at a Glance Asia/Pacific 2018

Many of Asia’s retirement-income systems are ill prepared for the rapid population ageing that will occur over the next two decades. The demographic transition – to fewer babies and longer lives – took a century in Europe and North America. In Asia, this transition will often occur in a single generation. Asia’s pension systems need modernising urgently to ensure that they are financially sustainable and provide adequate retirement incomes. This report examines the retirement-income systems of 18 countries in the region. The report provides new data for comparing pension systems of different countries. It combines the OECD’s expertise in modelling pension entitlements with a network of national pension experts who provided detailed information at the country level, verified key results and provided feedback and input to improve the analysis.

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Gross pension wealth

Gross pension wealth, indicating the magnitude of the total pension promise, ranges, for men, from a high of 20.4 years of earnings in China for low earners to a low of 4 in Thailand for high earners. The value for women in China is actually even higher at 21.0, meaning that someone on 50% average earnings throughout the lifetime has a mandatory pension worth 21.0 times their earnings level at retirement, though the values in Viet Nam are even higher for women at 22.8 across all earnings levels.

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