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.
Retirement ages
The rules for eligibility to retire and withdraw a pension benefit are complex and often reflect conflicting objectives. This is all mirrored in the different criteria for pension benefit withdrawal in different schemes. In 2016 the average normal pension age was equal to 59.4 years for men and 57.5 years for women in the non-OECD economies. With only two economies increasing their retirement ages the long-term age only increase to 60.3 for men and 58.5 for women.
- Click to access:
-
Click to download PDF - 476.02KBPDF