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Coronavirus

Asia's pension systems forced to cut back under COVID pressures

Study highlights concerns over retirement outlook as contributions fall

A man and his grandchild in Tokyo: Japan received a "D" grade for pension adequacy in a recent report, putting it in a low tier alongside China, India, the Philippines and Thailand.   © Reuters

SINGAPORE -- The coronavirus pandemic is weighing on Asia's pension systems, raising concerns about whether some will be up to the task of allowing future retirees to live comfortably.

Across the region, employers hit by lockdowns and slower economic activity are struggling to keep pension funds topped up. Governments have responded by scaling back contribution requirements.

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