VietnamExpress-June 4
Placed 57th out of 70 economies in a global ranking of pension system development, Vietnam lags most of its Southeast Asian peers.
With an average score of 4.37 out of seven, Vietnam’s pension system is weaker than in Indonesia (28), Singapore (30), the Philippines (37), and Thailand (52), according to Global Pension Report 2020 released by multinational financial services company Allianz. In Southeast Asia, Vietnam only did better than Malaysia (61) and Laos (63), stated the report, which analyzed pension systems in 70 countries and territories in terms of sustainability and adequacy.
The ranking is based on three sub-indexes including the financial and demographic starting point that reflects the baseline of specific countries in terms of demographics and public finances, sustainability that measures how pension systems react to demographic change, and adequacy that measures how pension systems provide an adequate standard of living in old age. According to the report, Vietnam’s population in retirement age is set to triple from 11.4 percent now to 32.7 percent in 2050.
Read more at: https://e.vnexpress.net/news/news/vietnam-pension-system-world-s-57th-best-report-4109754.html
