The population of the country is aging fast. That makes the need of taking care for the aged to increase. But, the ratio of young people can take care for the aged is decreasing. So, young people feel unhappy to take care for the aged.
Regarding pension system, Taiwan takes the Social Insurance system; Hong Kong takes the Mandatory Provident Fund system, and Singapore takes the Central Provident Fund system. Although there are some difference between Taiwan, Hong Kong and Singapore, they have the common feature of that the governments spend less expenditure, but achieve economic development and stable society. So, these three pension systems have the symbol of the East-Asia welfare regime.
Taiwan, Hong Kong and Singapore are belonging to the Four Asian Tigers. They all have the outstanding of economic development. So, economic development isn’t the factor to make difference of pension system between Taiwan, Hong Kong and Singapore. By the development of pension system, we can find that the parties propose to the social welfare policy when they want to be the winner of election. So, we can know that Democratization is the important factor of the pension system development.
