An elderly man steps off a bus into the rain in Tsim Sha Tsui. Financial service providers need to redesign products to make it easier for people to understand their financial position. Photo: Sam Tsang An elderly man steps off a bus into the rain in Tsim Sha Tsui. Financial service providers need to redesign products to make it easier for people to understand their financial position. Photo: Sam Tsang
An elderly man steps off a bus into the rain in Tsim Sha Tsui. Financial service providers need to redesign products to make it easier for people to understand their financial position. Photo: Sam Tsang
Renee McGowan
Opinion

Opinion

Macroscope by Renee McGowan

How the coronavirus pandemic is deepening Asia’s pension crisis

  • With investment returns already under pressure from low interest rates and now, increasing geopolitical uncertainty, Covid-19 threatens to widen the retirement savings gap
  • To alleviate the financial burden on members, some schemes have introduced deferred contributions and drawdowns. But they essentially force people to choose between their present and their future

An elderly man steps off a bus into the rain in Tsim Sha Tsui. Financial service providers need to redesign products to make it easier for people to understand their financial position. Photo: Sam Tsang An elderly man steps off a bus into the rain in Tsim Sha Tsui. Financial service providers need to redesign products to make it easier for people to understand their financial position. Photo: Sam Tsang
An elderly man steps off a bus into the rain in Tsim Sha Tsui. Financial service providers need to redesign products to make it easier for people to understand their financial position. Photo: Sam Tsang
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Renee McGowan

Renee McGowan

Renee McGowan is CEO of Mercer Asia.