Asian Retirement Markets 2021

Moving Forward with Resilience

Grow Retirement Assets in Asia

  • Analyze the role of annuities
  • Understand the unique factors that impact the marketing and distribution of retirement solutions
  • Assess the opportunities and challenges in New Zealand’s pension system


Discounts available for bulk purchase

US Broker Dealer Marketplace 2020 Details

Buy Now

Manni Huang

Manni Huang

Associate Director, Account Management, Asia


Evaluate the Asia-Pacific retirement sector in Australia and key North Asian and Southeast Asian markets. The report examines the current state of the retirement industry and regulatory developments in each market. It also explores the opportunities and challenges faced by asset managers in terms of product development and outsourcing opportunities, from both the retail and institutional perspectives.

Included with Purchase

Light bulb


Each report is lead authored by a senior Cerulli analyst with significant industry experience. The report incorporates qualitative and quantitative inputs, based on Cerulli’s proprietary research process. For more on our research process, click here.


Executive Summary

Get the most important report findings distilled in an easy-to-understand and highly visual format before you begin your journey through the report or use it as a tool for senior leadership.


Interactive Report Dashboard

Access consolidated data from multiple report exhibits in a single comparative view. Flexibly build your view of data with customizable filters and share the results in a format that meets your requirements.

Person headset

Analyst Support

Got a question? Our analysts are available to help you interpret and analyze key findings as well as provide their perspective on industry trends.

Bar chart

Data Behind the Report

Data is the foundation of our reports. Each study contains nearly 100 exhibits, available to buyers in Excel format. Extract and explore Cerulli’s data and analysis your way.


Digital Access

Access your reports digitally anytime, anywhere, on any device through our client portal.

A Note from the Authors

Asian Pension Funds Turn to Asset Managers for Risk Management Expertise

Ken Yap, CFA

Ken Yap, CFA

Managing Director, Asia

Bio →

Ken Yap, CFA

Ken Yap, CFA

Managing Director, Asia

Ken Yap is managing director of Cerulli’s Asia Pacific office. He oversees Cerulli’s business development strategy and research initiatives in the region. For more than 20 years, Ken has worked with asset managers, distributors, and financial institutions, identifying expansion opportunities with his deep knowledge of the market. He specializes in product development and market entry strategies into Asia’s established and emerging markets.

Prior to leading the Singapore office, Ken covered local and global asset management and distribution trends in Cerulli’s London and Boston offices. Before joining Cerulli, Ken was a consultant at Analysys’ Cambridge office in the U.K.

Full biography here.

As pension funds add moderate risks to their portfolios and venture into foreign markets to address their asset-liability management, effective portfolio risk management is a growing initiative. 73% of Asia ex-Japan pension plans believe that effective risk management is a key tool in achieving optimal portfolio returns. While larger pension funds have risk management policies and target asset allocations, smaller pension plans are likely to employ external managers’ expertise and experience in managing their risk.

Risk management, however, covers many areas, and is not just limited to investment or market risks, but also includes addressing risks in operations, technological systems, and non-financial events such as climate change, as well as asset-liability mismatch risks. Changing the features of pension plans (such as raising the retirement age or increasing contribution limits, which could be sensitive issues), is one of the ways of addressing asset-liability mismatch (ALM) risk and ensuring enough funding is available for payouts. That said, asset allocation plays a paramount role in ALM and effective portfolio risk management. Japan’s Government Pension Investment Fund (GPIF), for instance, said in its 2019 annual report that, “The most important aspect of portfolio risk management is a proper management of asset allocation based on a policy asset mix.”

We believe that asset managers that can demonstrate prudent management of ALM risk and meet the demands funding payout amid an increasingly aging population will be well poised to win mandates from pension funds.

For more on this trend and for complete coverage of the retirement landscape in Australia, Japan, and North Asian and Southeast Asian markets, access our latest research.

Contact Us

Want more information?

Learn more about this report and related Cerulli research.

Contact Us

You may also be interested in

  • Annual report
  • The Cerulli Edge
Consulting Page module Rocket 120820

Strategic Consulting & Custom Research

Cerulli for Consulting

Understand where to allocate resources to achieve your objectives. We can help you determine which initiatives are likely to be successful and those that may not achieve the desired effect. In an increasingly competitive market, our objectivity and experience can help you to advance your firm’s unique strengths.

Learn more

We use cookies to improve your site experience, distinguish you from other users and support the marketing of our services. These cookies may store your personal information. By continuing to use our website, you agree to the storing of cookies on your device. For more information, please visit our Privacy Notice.