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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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Support ratio

Asia is predicted to have a higher rate of increase in the old-age support ratio than the OECD as a whole, though Korea is a notable exception. The percentage of the population aged 65 and over in Malaysia is projected in 2100 to be about five times the level in 2015. All of the remaining non-OECD economies have a projected increase of at least 200% over the 85-year period, compared to the OECD countries which predominantly have an estimated increase of less than 100%.

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Graphs

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