PH leads region in pension coverage, but long-term viability questioned
The Philippines is emerging as one of Asia’s “stronger performers in pension coverage,” based on data from the Organization for Economic Cooperation and Development (OECD).
“It is a sign that more workers are being brought into formal social protection systems,” said Dr. Alicor Panao, an Inquirer data scientist and associate professor at the University of the Philippines.
Based on population coverage, about 55.5% of working-age Filipinos ages 15-65 are enrolled in pension schemes.
Across Asia, where large informal sectors often exclude workers, this places the Philippines among the region’s leaders, ahead of countries such as Indonesia (16.5%), India (27.2%) and China (48.7%).
Panao said labor force coverage of 92.4% is “even more notable,” noting that the figure is close to those in advanced economies such as Canada (89.1%) and the United Kingdom (93.2%), and not far from the standards observed in OECD countries.
However, the figures deserve modest caution because financial security in retirement depends on consistent, long-term participation.
