Korean pensioners poorest in developed Asia

Asia’s lower social spending by governments and individuals’ declining financial dependency on their families, among other things, mean the region’s fast-ageing populations often face income insecurity when they enter retirement. This is despite Asian pensioners entering retirement relatively cash-rich. Most pointedly, the financial wealth of all Taiwanese households is equivalent to 4.7 times its GDP, far exceeding the ratio of three times in markets such as Hong Kong, Japan and …