Old-Age Income Security in ASEAN Member States – Policy Trends, Challenges and Opportunities
The report examines old-age income security in ASEAN member states, highlighting policy trends, challenges, and opportunities as the region faces an aging population and inadequate pension systems.
(Generated with the help of GPT-4)
| Quick Facts | |
|---|---|
| Report location: | source |
| Language: | English |
| Publisher: | Asean Secretariat |
| Authors: | Chihoko Asada-miyakawa, Unknown, Dao Ngoc Dung |
| Time horizon: | 2030 |
| Geographic focus: | Brunei_Darussalam, Cambodia, Indonesia, Lao_Pdr, Malaysia, Myanmar, Philippines, Singapore, Thailand, Viet_Nam |
| Page count: | 227 |
Methods
The research method involved a comprehensive review of existing literature, demographic data, and pension systems across ASEAN member states. It included consultations with stakeholders, workshops, and analysis of policy frameworks to identify challenges and opportunities in old-age income security.
(Generated with the help of GPT-4)
Key Insights
The report provides a comprehensive analysis of old-age income security in ASEAN member states, focusing on the demographic shift towards an aging population. By 2030, the elderly population is expected to reach 72 million, increasing to 124 million by 2050. Despite some progress in pension systems, many older individuals still lack adequate income security, relying heavily on family support. The report identifies significant disparities in pension coverage across member states, with only 31.5% of older individuals receiving pensions. It emphasizes the need for policy reforms to enhance pension systems, improve coverage, and ensure financial sustainability. Recommendations include increasing retirement ages, expanding tax-funded pensions, and addressing the challenges posed by informal employment. The report underscores the urgency for governments to take proactive measures to secure old-age income and promote social protection.
(Generated with the help of GPT-4)
Additional Viewpoints
Categories: 2030 time horizon | 2030s time horizon | Brunei Darussalam geographic scope | Cambodia geographic scope | English publication language | Indonesia geographic scope | Lao Pdr geographic scope | Malaysia geographic scope | Myanmar geographic scope | Philippines geographic scope | Singapore geographic scope | Thailand geographic scope | Viet Nam geographic scope | aging population | economic growth | family support | financial sustainability | income security | informal employment | pension coverage | pension systems | policy recommendations | social protection