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Developing Asia’s Pension Systems and Old-Age Income Support

Author

Listed:
  • Donghyun Park

    (Asian Development Bank Institute (ADBI))

  • Gemma B. Estrada

Abstract

Old-age income support is becoming an issue of growing importance throughout Asia. This is especially true in East and Southeast Asia where the population is aging. This paper provides a broad overview of the current state of pension systems in the People’s Republic of China, Indonesia, Republic of Korea, Malaysia, Philippines, Singapore, Thailand, and Viet Nam; analyzes the pension systems; and identifies their major structural weaknesses. The paper concludes with some specific policy directions for pension reform to strengthen the capacity of Asian pension systems in delivering economic security for the large and growing population of elderly looming on the region’s horizon.

Suggested Citation

  • Donghyun Park & Gemma B. Estrada, 2012. "Developing Asia’s Pension Systems and Old-Age Income Support," Development Economics Working Papers 23319, East Asian Bureau of Economic Research.
  • Handle: RePEc:eab:develo:23319
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    Keywords

    Pension system; Old-age income support; Asia; East and Southeast Asia; pension reform;

    JEL classification:

    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • J11 - Labor and Demographic Economics - - Demographic Economics - - - Demographic Trends, Macroeconomic Effects, and Forecasts
    • J14 - Labor and Demographic Economics - - Demographic Economics - - - Economics of the Elderly; Economics of the Handicapped; Non-Labor Market Discrimination

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