Summary: Many emerging Asian economies will likely face a pension fund crisis by 2030 if they fail to set aside sufficient money in a gradually aging region to care for their elderly. The fiscal burden of public pensions in most Asian emerging economies is relatively small, reflecting comparatively young populations and limited coverage of the retired-age population, which has traditionally been left to families to handle. The Asian Development Bank Institute—ADBI—looked more closely at the extent of the looming pension crisis to identify the current status of public pension spending in Asia; develop models to explain public pension spending in Asia in terms of basic economic and demographic variables; and use the models to forecast the likely developments in spending on public pensions in 23 emerging economies through 2030 as a result of demographic and income trends. Read the transcript http://bit.ly/2h5pAGc Read Costs and Potential Funding of Expanded Public Pension Coverage in Asia https://www.adb.org/publications/costs-and-potential-funding-expanded-public-pension-coverage-asia Authors Peter Morgan, ADBI co-chair of research https://www.adb.org/adbi/about/staff-profiles/peter-morgan Long Q. Trinh, ADBI research associate https://www.adb.org/adbi/about/staff-profiles/long-trinh Know more about ADBI’s work on pensions http://bit.ly/2f84CWy
