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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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Life expectancy

Life expectancy at birth in virtually all non-OECD Asian economies is lower than for all the OECD countries covered. The exceptions are Hong Kong, China and Singapore which have life expectancies higher than Australia, Canada, Germany, New Zealand, the United Kingdom and the United States. In fact only Japan has a higher life expectancy than Hong Kong, China. Life expectancy for women in Pakistan is nearly 20 years less than in Japan but if survival to 65 is assumed then the difference drops to exactly 10 years, which will impact greatly on future pension systems.

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Graphs

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