Role of private sector in retirement provisions

According to the World Bank, the East Asia and Pacific region is ageing faster than any other region in the world. The rate of ageing is diverse across different countries, with some having a very young population. However, the more developed countries are seeing large numbers of residents now in retirement, and requiring income from family members, employers, personal savings, or the state. Similar trends have been seen elsewhere, namely in the European and North American markets, which has led to development of sophisticated public and private provision to support the need for retirement income.

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