Jan. 8 (Global Pensions) - The pension systems in many Asian countries need swift reforms to be viable in the future, a report by the Organization for Economic Co-operation and Development (OECD) says.

The international organisation said a quickly ageing population, overly generous pensions schemes and early retirement ages are putting pressure on many Asian pensions systems.

It said, while systems vary from country to country, the current systems were unlikely to provide security to retirees since early withdrawals are common and coverage of formal pensions systems is relatively low.

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