Pensions at a Glance Asia_Pacif - OECD

Description

Table of Contents Executive Summary Table 1. Pensions in Asia/Pacific Figure 1. Replacement rates Figure 2. Expected time in retirement Figure 3. Required contribution rates Figure 4. Pension coverage Introduction Overview of Retirement-income Systems Table 2. Structure of pension systems References Methodology and Structure of the Report Future entitlements under today’s parameters and rules Career length Coverage Economic variables Table 3. Average annual earnings Taxes and social security contributions Average earnings Part I. Comparing Pension Policies Key Features of Pension-System Design First-tier, redistributive schemes Second-tier, insurance schemes Defined-contribution plans Valorisation Ceilings on pensionable earnings Pension eligibility ages Indexation of pension-system parameters Summary of pension-scheme parameters and rules Chapter 1. Retirement-income Indicators Gross replacement rates Gross replacement rates by earnings Net replacement rates Net replacement rates by earnings Gross replacement rates with entry at age 30 Gross replacement rates by earnings: entry at age 30 Gross pension wealth Gross pension wealth by sex and earnings Net pension wealth Net pension wealth by sex and earnings Gross versus net pension wealth by sex, average earner Pension-earnings link The link between pre-retirement earnings and pension entitlements Coverage Coverage of mandatory pension schemes by population and labour force Life expectancy Life expectancy at birth, in years, men and women, in 2005-10 Life expectancy at age 65, in years, men and women, in 2005-10 and 2045-50 Support ratio Old-age support ratio in 2010 and 2050 Pensioner population projections Part II. Economy Studies Introduction Additional Asia specific information China China: pension system in 2008 Key indicators Qualifying conditions Benefit calculation Basic Defined contribution (funded or notional accounts) Variant careers Early retirement Late retirement Personal income tax and social security contributions Pension modelling results: China Alternative economic and career length assumptions Economy specific assumptions Hong Kong Hong Kong: pension system in 2008 Key indicators Qualifying conditions Benefit calculation Defined contribution Targeted/Basic Variant careers Early retirement Late retirement Personal income tax and social security contributions Taxation of workers Taxation of worker’s income Social security contributions payable by workers Taxation of pensioners Taxation of pension income Social security contributions payable by pensioners Pension modelling results: Hong Kong Alternative economic and career length assumptions Indonesia Indonesia: pension system in 2008 Key indicators Qualifying conditions Benefit calculation Defined-contribution Variant careers Early retirement Late retirement Personal income tax and social security contributions Taxation of workers Taxation of worker’s income Social security contributions payable by workers Taxation of pensioners Taxation of pension income Social security contributions payable by pensioners Pension modelling results: Indonesia Alternative economic and career length assumptions Economy specific assumptions Malaysia Malaysia: pension system in 2008 Key indicators Qualifying conditions Benefit calculation Defined contribution Variant careers Early retirement Late retirement Personal income tax and social security contributions Taxation of workers Taxation of worker’s income Social security contributions payable by workers Taxation of pensioners Taxation of pension income Social security contributions payable by pensioners Pension modelling results: Malaysia Alternative economic and career length assumptions Economy specific assumptions Philippines Philippines: pension system in 2008 Key indicators Qualifying conditions Benefit calculation Basic Earnings-related Minimum Variant careers Early retirement Late retirement Personal income tax and social security contributions Taxation of workers Taxation of worker’s income Social security contributions payable by workers Taxation of pensioners Taxation of pension income Pension modelling results: Philippines Alternative economic and career length assumptions Economy specific assumptions Singapore Singapore: pension system in 2008 Key indicators Qualifying conditions Benefit calculation Defined-contribution Variant careers Early retirement Late retirement Personal income tax and social security contributions Taxation of workers Taxation of worker’s income Social security contributions payable by workers Taxation of pensioners Taxation of pension income Social security contributions payable by pensioners Pension modelling results: Singapore Alternative economic and career length assumptions Thailand Thailand: pension system in 2008 Key indicators Qualifying conditions Benefit calculation Earnings-related Variant careers Early retirement Late retirement Personal income tax and social security contributions Taxation of workers Taxation of worker’s income Social security contributions payable by workers Taxation of pension income Social security contributions payable by pensioners Pension modelling results: Thailand Alternative economic and career length assumptions Economy specific assumptions Viet Nam Viet Nam: pension system in 2008 Key indicators Qualifying conditions Benefit calculation Earnings-related Variant careers Early retirement Late retirement Personal income tax and social security contributions Taxation of workers Taxation of worker’s income Social security contributions payable by workers Taxation of pensioners Taxation of pension income Social security contributions payable by pensioners Pension modelling results: Viet Nam Alternative economic and career length assumptions Economy specific assumptions India India: pension system in 2008 Key indicators Qualifying conditions Benefit calculation Employees Provident Fund Scheme (EPF) Employees Pension Scheme (EPS) Variant careers Early retirement Late retirement Personal income tax and social security contributions Taxation of workers Taxation of worker’s income Taxation of pensioners Taxation of pension income Social security contributions payable by pensioners Pension modelling results: India Alternative economic and career length assumptions Economy specific assumptions Pakistan Pakistan: pension system in 2008 Key indicators Qualifying conditions Benefit calculation Earnings-related Minimum pension Earnings-related pension for civil servants Variant careers Early retirement Late retirement Personal income tax and social security contributions Taxation of workers Taxation of worker’s income Social security contributions payable by workers Taxation of pensioners Taxation of pension income Social security contributions payable by pensioners Pension modelling results: Pakistan Alternative economic and career length assumptions Economy specific assumptions Sri Lanka Sri Lanka: pension system in 2008 Key indicators Qualifying conditions Benefit calculation Defined contribution Variant careers Early retirement Late retirement Personal income tax and social security contributions Taxation of workers Taxation of worker’s income Social security contributions payable by workers Taxation of pensioners Taxation of pension income Social security contributions payable by pensioners Pension modelling results: Sri Lanka Alternative economic and career length assumptions Economy specific assumptions