For over 90 years, Prudential Corporation Asia has been helping individuals and families across Asia plan for their long-term financial future.
To help advance this mission, Prudential has sponsored a major survey that looks at how retirement attitudes and expectations are changing in the region. “From Challenge to Opportunity”, which covers 10 markets in East Asia, summarises the results of the second wave of the East Asia Retirement Survey. The survey was designed and the report was authored by the Global Aging Institute, an independent research and educational organisation. It offers powerful new insights into the emerging trends shaping the future of retirement in East Asia, and highlights the steps that governments, businesses, and individuals can take to ensure a brighter and more secure retirement future.
As societies age, governments and businesses are trying to anticipate the needs of tomorrow’s growing elderly populations. Nowhere is this more challenging than in East Asia, where rapid development is transforming traditional retirement attitudes and expectations. The pivotal role that the family plays in providing security for retirees is receding, while the importance of pensions and personal savings is growing. How well are retirees in East Asia coping with the changes? How prepared are workers for retirement? And if given the choice, what type of retirement system would people actually prefer?
To better understand people’s retirement hopes and fears, Prudential sponsored a survey in China, Hong Kong, Indonesia, Malaysia, the Philippines, Singapore, South Korea, Taiwan, Thailand and Vietnam. The survey reveals that the region is home to important differences in retirement attitudes, especially toward financial markets and responsibility for retirement income. But the findings show that citizens almost everywhere have at least two important things in common – they are anxious about their retirement prospects and eager to improve them.
Citizens throughout East Asia are anxious about their retirement prospects and are eager to improve them. See the key findings in infographics.Download the infographics card
See other market-specific findings on retirement expectations and attitudes.