Asian pensions low proportionate to GDP - ADB Institute
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Sri Lanka, Sept. 17 -- The Asian region has a problem with a low value of pension holdings proportionate to Gross Domestic Product. This coupled with the ageing population and the low rates of development pose a risk following the economic downturn caused by the COVID-19 pandemic.
19 of the 49 Asian members of the Asian Development Bank have fertility rates below 2.1. It is predicted that in 20 years all Asian ADB countries will have fertility rates below 2.1. Senior Vice President Centre for Strategic and Industrial Studies Daniel F. Runde said: "the countries are getting old before they get rich." China will shortly have over 35% of its population over the age of 60.
These findings were expressed at the ADB 53rd Annual General Meeting...
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