Study: Pension Reforms Most Required In India

New Delhi: Australia faces the least require to reform its pension system followed by Hong Kong and Taiwan, while reforms are most needed in India and China, according to Allianz Pension Reform Pressure Gauge for Asian countries. Reform pressure differs considerably from country to country. Australia is the country with the smallest necessity to reform its pension system, followed by Hong Kong and Taiwan. These countries have managed to setup comprehensive pension systems with a strongly-funded pillar. The study illustrates the ability of pension systems across Asia-Pacific to cope with demographic changes. Overall, India is under the most pressure to reform, and while Japan, South Korea and China have already introduced reform, they still have some way to go in order to achieve sustainable pensions for their ageing populations.