Global Pension Timebomb




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ORIGINAL POST

Posted by Ed 17 days ago
Peter Vanham, Media Lead, Public Engagement, Tel.: +1 646 592 5907; peter.vanham@weforum.org

The world’s six largest pension saving systems – the US, UK, Japan, Netherlands, Canada and Australia – are expected to reach a $224 trillion gap by 2050, a new study by the World Economic Forum shows


Adding in China and India, which have the world’s largest populations, the combined savings gap for the eight countries reaches a total of $400 trillion by 2050, a sum five times the size of the current global economy


With the gap driven by longer lifespans and reduced levels of savings, the World Economic Forum recommends five measures to help economies avert a prolonged pensions crisis ht countries


New York, 26 May 2017 — The world’s six largest pension systems will have a joint shortfall of $224 trillion by 2050, imperiling the incomes of future generations and setting the industrialized world up for the biggest pension crisis in history.

To alleviate the looming crisis, governments must address the gaps in access to the pensions system and ageing populations as they are the key sources of the widening pension gap. These are the main findings of the new World Economic Forum report, We’ll Live to 100 – How Can We Afford It?, released today, which provides country-specific insights into the challenges being faced at a global level and potential solutions.

https://www.weforum.org/press/2017/05/global-pension-timebomb-funding-gap-set-to-dwarf-world-gdp

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Ed 17 days ago
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