We are pleased to present key results from the Retirement Scheme Survey covering Asia-wide, Hong Kong, Thailand, Philippines, Indonesia, South Korea and Taiwan. 

 

Conducted over 2019 to 2021, this series leverages our client base across Asia, and aims to bring together common issues in retirement security that Asia business leaders, HR and Finance partners can take action on.  In combination, we have surveyed views from more than 700 employers from all industries, with responsibility for the well-being of over 120,000 employees.

 

The report covers:

 

  1. Current state 
  2. Priorities in the next 3-5 years
  3. Key considerations for implementing changes

Key findings

For the full report in any market or for all markets, click on the purchase button to add to cart and click on checkout to proceed to payment.  Payments can be made with any major credit cards or you may select to pay by invoice. 

 

  Purchase 2 or more reports and receive the Taiwan and South Korea reports for free.

 

Please note that the subscription fees shown in the checkout is in HK Dollars due to our e-commerce provider’s settings.  The USD pricing is for reference only and my vary by currency exchange rates.


Asia-wide

 

While each market has its own take on the importance of supporting staff to save for their retirement, there were similar spotlights on:

  • Concerns on handling regulatory changes
  • A desire for continuous improvement to current pension plans
  • An eye on helping members use investment products more effectively
  • Broadening in-house activities on financial wellness topics

The findings may help you set priorities based on your expansion in a particular market, your benefit proposition and beliefs as an employer.

Hong Kong

 

Over 75% of employers offer supplementary pension benefit through pooled vehicles.  This may be in the form of additional contributions into a mandatory structure, or a separate standalone plan.  How are they designing their plans, and what are the top priorities for employers in Hong Kong?

 

 

 

Philippines

 

Around 30% of employers offer supplementary pension benefit.  All eyes are turning to recent bill on pension reform that passed the first reading in record time.  Introduction of the bill will trigger significant changes to any corporations’ benefit proposition.  How ready are employers for such sweeping changes?

 

 

 

 

Indonesia

 

Around 45% of employers offer a supplementary pension benefit.  Transition to the recent statutory levels of benefit is a primary focus, and this is on top of changes to bring defined benefit arrangements into alignment with general move towards defined contribution designs. What else are benefit managers in Indonesia dealing with?

 

Taiwan - complimentary with any 2 report purchases

 

Around 30% of employers offer supplementary pension benefit, and some are utilizing the pension benefit to compensate for the salary cap applied under the 2005 Labour Penson Act.  What other ways are employers utilizing the pension plan?  What pension benefits are offered to non-permanent residents?

 

Thailand

 

Over 90% of employers offer a supplementary pension benefit.  The market is developing, with more product providers joining the market which can make the landscape richer with options for benefit managers.  Scrutiny is on investment performance and the fund range, how else are employers in Thailand challenging their pension providers?

 


South Korea - complimentary with any report purchase

Over 75% of employer offer a supplementary DC while only 20% for DB. Although market trends are different between two plans, the primary focus of regulation moves towards to a strong governance structure. How will the recent regulatory changes affect employers? What other top priorities are employers in South Korea considering over next three years?

 

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