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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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Net replacement rates

Net replacement rates show greater diversity than the gross replacement rates. They range from 39.3% in Thailand to 99.3% in India. These are the extremes for average earners but findings are also given at 50% and 200% of average earnings. Replacement rates generally decline as earnings increase, though Malaysia, Viet Nam and Italy do not follow this premise, and are usually higher for men than for women. Results for China and India are the highest especially for low and average earners. As with gross replacement rates Thailand is at the bottom of the rankings.

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