The study comes as policy makers grapple with more people entering retirement, living longer and needing a steady flow of income on which to survive. Almost one-fifth of the world’s
population is forecast to be of retirement age by 2070, up from about 9% this year, United Nations data show.
“Systems around the world are facing unprecedented life expectancy and rising pressure on public resources to support the health and welfare of older citizens,” said David Knox, the report’s author and senior partner at Mercer. “It’s imperative that policy makers reflect on the strengths and weaknesses of their systems to ensure stronger long-term outcomes for the
retirees of the future.”
Raising the age at which citizens become eligible for pension makes economic sense but is one of the thorniest issues to put before voters. Japan obviously has a vital need to urgently replace aging workers and while immigration is now allowed, the program needs to be vastly expanded.Click HERE to subscribe to Fuller Treacy Money Back to top