Asian Provident Funds : Meeting Tomorrow’s Challenges

Asian Provident Funds : Meeting Tomorrow’s Challenges

Across the emerging world, policymakers are grappling with how to build retirement systems that meet the needs of their rapidly developing and rapidly aging societies. Nowhere is the challenge more urgent than in Asia, which is both developing and...

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Bibliographic Details
Main Authors: Jackson, Richard, Inglis, Evan
Format: Report
Language:English
Published: World Bank, Washington, DC 2021
Subjects:
PENSION FUND
PROVIDENT FUND
DEFINED BENEFIT PENSION PLAN
DEFINED CONTRIBUTION PROVIDENT FUND
RETIREMENT SECURITY
PENSION FUND GOVERNANCE
Online Access:http://documents.worldbank.org/curated/en/136271614076072521/Asian-Provident-Funds-Meeting-Tomorrow-s-Challenges
http://hdl.handle.net/10986/35236
id okr-10986-35236
recordtype oai_dc
spelling okr-10986-352362021-04-23T14:02:18Z Asian Provident Funds : Meeting Tomorrow’s Challenges Jackson, Richard Inglis, Evan PENSION FUND PROVIDENT FUND DEFINED BENEFIT PENSION PLAN DEFINED CONTRIBUTION PROVIDENT FUND RETIREMENT SECURITY PENSION FUND GOVERNANCE Across the emerging world, policymakers are grappling with how to build retirement systems that meet the needs of their rapidly developing and rapidly aging societies. Nowhere is the challenge more urgent than in Asia, which is both developing and aging more rapidly than anywhere else on earth. Provident funds, which are fully funded, government-managed, defined contribution systems, have long been the dominant form of retirement provision in much of Asia. The purpose of this report is to assess the strengths and weaknesses of the provident fund model, evaluate the performance of three of Asia’s four largest provident funds, and identify steps that they and other provident funds can take to improve retirement security. The funds covered in the report are India’s Employees’ Provident Fund (EPF), Indonesia’s Jaminan Hari Tua (JHT), and Malaysia’s Employees Provident Fund (EPF). The report identifies two key features of the provident fund model that may make it an attractive choice for both governments and workers in emerging markets. 2021-03-10T17:12:59Z 2021-03-10T17:12:59Z 2021 Report http://documents.worldbank.org/curated/en/136271614076072521/Asian-Provident-Funds-Meeting-Tomorrow-s-Challenges http://hdl.handle.net/10986/35236 English Equitable Growth, Finance and Institutions Insight; CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Economic & Sector Work Economic & Sector Work :: Other Financial Sector Study South Asia India Indonesia Malaysia
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
topic PENSION FUND
PROVIDENT FUND
DEFINED BENEFIT PENSION PLAN
DEFINED CONTRIBUTION PROVIDENT FUND
RETIREMENT SECURITY
PENSION FUND GOVERNANCE
spellingShingle PENSION FUND
PROVIDENT FUND
DEFINED BENEFIT PENSION PLAN
DEFINED CONTRIBUTION PROVIDENT FUND
RETIREMENT SECURITY
PENSION FUND GOVERNANCE
Jackson, Richard
Inglis, Evan
Asian Provident Funds : Meeting Tomorrow’s Challenges
geographic_facet South Asia
India
Indonesia
Malaysia
relation Equitable Growth, Finance and Institutions Insight;
description Across the emerging world, policymakers are grappling with how to build retirement systems that meet the needs of their rapidly developing and rapidly aging societies. Nowhere is the challenge more urgent than in Asia, which is both developing and aging more rapidly than anywhere else on earth. Provident funds, which are fully funded, government-managed, defined contribution systems, have long been the dominant form of retirement provision in much of Asia. The purpose of this report is to assess the strengths and weaknesses of the provident fund model, evaluate the performance of three of Asia’s four largest provident funds, and identify steps that they and other provident funds can take to improve retirement security. The funds covered in the report are India’s Employees’ Provident Fund (EPF), Indonesia’s Jaminan Hari Tua (JHT), and Malaysia’s Employees Provident Fund (EPF). The report identifies two key features of the provident fund model that may make it an attractive choice for both governments and workers in emerging markets.
format Report
author Jackson, Richard
Inglis, Evan
author_facet Jackson, Richard
Inglis, Evan
author_sort Jackson, Richard
title Asian Provident Funds : Meeting Tomorrow’s Challenges
title_short Asian Provident Funds : Meeting Tomorrow’s Challenges
title_full Asian Provident Funds : Meeting Tomorrow’s Challenges
title_fullStr Asian Provident Funds : Meeting Tomorrow’s Challenges
title_full_unstemmed Asian Provident Funds : Meeting Tomorrow’s Challenges
title_sort asian provident funds : meeting tomorrow’s challenges
publisher World Bank, Washington, DC
publishDate 2021
url http://documents.worldbank.org/curated/en/136271614076072521/Asian-Provident-Funds-Meeting-Tomorrow-s-Challenges
http://hdl.handle.net/10986/35236
_version_ 1764482612559085568

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