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Individuals responsible for retirement security

Added 3rd March 2015

Only two countries in Asia-Pacific ranked in the top 10 worldwide for retirement security, according to a report by Natixis Global Asset Management.

Individuals responsible for retirement security
The two were Australia and New Zealand.
The next regional countries on the index were South Korea (14), Japan (17) and Singapore (30).
China (including Hong Kong) ranked 72 out of 150 countries. 
Hong Kong was included with China's because most indicators that compose the index do not list data separately for Hong Kong, the firm said. 
Using some segregated data, Hong Kong performed better than China in the "material well-being sub-index", with one of the strongest gross national income per capita in the world ($54,270 in Hong Kong versus $11,850 in China). 
Hong Kong's unemployment is slightly lower than China's, but income inequality is higher, the report said.
India was in 88th place.
"The findings overall suggest that retirement security is uncertain for most retirees, given unsustainable demand for government resources and macroeconomic factors that affect the value of retiree savings, placing more responsibility on individual investors for their own welfare in retirement," said Madeline Ho, head of wholesale fund distribution for Asia Pacific at Natixis.
"We need to help investors recognize that reality and help them do as much as possible to ensure their own retirement security."
The full report is available here.

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