Summary

Faced with a rapidly aging population, developing Asia must address two critical challenges: maintaining growth and providing adequate, affordable, sustainable income support for the elderly. This book deals with the second issue by examining the pension systems of eight developing Asian countries--the People's Republic of China, Indonesia, the Republic of Korea, Malaysia, the Philippines, Singapore, Thailand, and Viet Nam.

Despite their diverse income and development levels, the common concerns in the pension systems of these eight countries are inequity and potential unsustainability.

The country-specific analyses in this book suggest that much remains to be done to achieve fairness and sustainability in the current pension systems. In addition to country-specific measures, common, regionwide reforms are suggested. First, the urgency for addressing the challenges aging populations face must be recognized. Second, delivering pension benefits must be emphasized. Third, the impact of rising longevity on the length of retirement must be managed.

The book's authors hope that by raising awareness on these critical issues and the required reforms, this book may serve as an effective reference for strengthening pension systems across developing Asia.