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

Author

Listed:
  • Park, Donghyun

    (Asian Development Bank Institute)

  • Estrada, Gemma

    (Asian Development Bank Institute)

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

  • Park, Donghyun & Estrada, Gemma, 2012. "Developing Asia’s Pension Systems and Old-Age Income Support," ADBI Working Papers 358, Asian Development Bank Institute.
    • Handle: RePEc:ris:adbiwp:0358
    as

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    References listed on IDEAS

    as
    1. Indermit S. Gill & Truman G. Packard & Juan Yermo, 2005. "Keeping the Promise of Social Security in Latin America," IDB Publications (Books), Inter-American Development Bank, number 59998, February.
    2. Barr, Nicholas, 2006. "Pensions: overview of the issues," LSE Research Online Documents on Economics 2631, London School of Economics and Political Science, LSE Library.
    3. Jesus Felipe & Rana Hasan (ed.), 2006. "Labor Markets in Asia," Palgrave Macmillan Books, Palgrave Macmillan, number 978-0-230-62738-3, October.
    4. Indermit S. Gill & Truman Packard & Juan Yermo, 2005. "Keeping the Promise of Social Security in Latin America," World Bank Publications - Books, The World Bank Group, number 7391.
    5. Nicholas Barr & Peter Diamond, 2006. "The Economics of Pensions," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 22(1), pages 15-39, Spring.
    6. Jesus Felipe & Rana Hasan, 2006. "Labor Market Outcomes in Asia," Palgrave Macmillan Books, in: Jesus Felipe & Rana Hasan (ed.), Labor Markets in Asia, chapter 0, pages 21-62, Palgrave Macmillan.
    7. Alberto Arenas de Mesa & Carmelo Mesa-Lago, 2006. "The Structural Pension Reform in Chile: Effects, Comparisons with Other Latin American Reforms, and Lessons," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 22(1), pages 149-167, Spring.
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    13. Nicholas Barr, 2006. "Pensions: Overview of the Issues," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 22(1), pages 1-14, Spring.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Rafal Chomik & John Piggott, 2015. "Population Ageing and Social Security in Asia," Asian Economic Policy Review, Japan Center for Economic Research, vol. 10(2), pages 199-222, July.
    2. Sheila Rose Darmaraj & Suresh Narayanan, 2019. "The Long-Term Financial Sustainability of the Civil Service Pension Scheme in Malaysia," Asian Economic Papers, MIT Press, vol. 18(1), pages 155-178, Winter/Sp.

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    More about this item

    Keywords

    asia; pension systems; old-age income support; population aging; pension reform;
    All these keywords.

    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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