Measures include the introduction of higher retirement ages; increased employee contribution rates; lowering benefit accrual rates; and changing the post retirement indexation policy. A number of countries have also realised the need to achieve some level of advance funding of benefit obligations.
In Asia, pension reforms can be characterised as diverse, ranging from the advanced modern systems as prevalent in Singapore, Korea and Malaysia to the relatively less advanced systems in most other countries. In this regard, medical and health insurance are quite comprehensive in the East Asian countries.