A zoom into Asia’s pension reform journey: different perspectives of a multi-pillar approach
By Calvin Chiu & Elvin Tharm
Pension reform in Asia is progressing as the region faces numerous challenges: ageing populations, rising life expectancy and the erosion of traditional family and community support for the elderly. While the traditional state-provided pension may provide one potential source of retirement income, Manulife Investment Management believes that a comprehensive multi-pillar approach, such as that outlined by the World Bank, should be the best way forward. In this initial paper of a new series on retirement issues, Manulife Investment Management examines the challenges of pension reform in Asia and the innovations being explored to address them. Using our collective experience and learnings in markets across the globe, we look at the unique pension reform journeys in three Asian markets: China, Malaysia, and Hong Kong.
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