Adhesion To Well-Established Practices Or A New Look At The Problem: Pension Systems In The States Of East Asia

Abstract

The impact of changes in the demographic structure of the population and the associated large-scale social spending on economic development has long been a topic of serious discussion by scientists and journalists from economically developed countries. In the rapidly aging countries of East and Southeast Asia with emerging markets, governments are prioritizing new aspects of the social agenda, including the choice of models, rates and sources for raising the living standard, and the scope of social guarantees provided by the state. The article discusses a variety of experience in creating pension systems that meet local conditions for senior citizens in the countries of the region. The main focus is on the analysis of hybrid forms of savings to ensure pensions and meet current needs (Malaysia, Singapore) and complex multi-level systems with almost complete coverage of the elderly people (PRC and Thailand) in Asian countries with the most rapidly aging populations that are not included in the OECD group.