Economy

Size of retirement savings gap - Source: Mercer analysis

We’ll Live to 100 – How Can We Afford It?

The challenges we face to provide our ageing societies with a financially secure retirement are well-known. In most countries around the world, standards of living and healthcare advancements are allowing people to live longer. This should be celebrated, but we should also consider the implications for the financial systems that have been designed to meet our retirement needs, which in[Read More…]

by 0 comments Analyses, Economy
Rapid Aging in East Asia and Pacific Will Shrink Workforce and Increase Public Spending

Rapid Aging in East Asia and Pacific Will Shrink Workforce and Increase Public Spending

East Asia and Pacific is aging faster – and on a larger scale – than any other region in history, which could lead to a steep drop in the size of its workforce and sharp  increases in public spending on pensions, health care and long-term care in the coming decades, according to a World Bank report. More than 211 million[Read More…]

Pension Reforms in the EU since the Early 2000’s:

Pension Reforms in the EU since the Early 2000’s:

Most EU Member States have carried out substantial pension reforms over the last decades in order to enhance fiscal sustainability, while maintaining adequate pension income. The intensity of pension reforms has been particularly strong since 2000. In an European Economy Discussion Papers; Giuseppe Carone, Per Eckefeldt, Luigi Giamboni, Veli Laine and Stéphanie Pamies Sumner discuss about impacts of Pension Reforms in[Read More…]

by 0 comments Economy, Europe
Millennials: waking up to retirement reality

Millennials: waking up to retirement reality

Most Millennials have an unrealistic view of their retirement prospects according to a new report from HSBC. The latest report in The Future of Retirement series, Shifting sands, finds that on average Millennials expect to retire younger than other working age generations. Millennials expect to retire at 59, two years younger than the working age average of 61. The survey[Read More…]

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Asia: At Risk of Growing Old before Becoming Rich?

Asia: At Risk of Growing Old before Becoming Rich?

The outlook for the Asia-Pacific region remains robust—the strongest in the world, in fact—and recent data point to a pickup in momentum. The near-term outlook, however, is clouded with significant uncertainty, and risks, on balance, remain slanted to the downside. Medium-term growth faces secular headwinds, including from population aging and sluggish productivity. Macroeconomic policies should continue to support growth while[Read More…]

Over 50s: a boost to UK economy, not a burden

Over 50s: a boost to UK economy, not a burden

The over-50s are creating more jobs and contributing to the growth of the UK’s economy at a faster rate than any other age group, according to a report by Hitachi Capital UK and CEBR (Centre for Economic and Business Research). Contrary to popular belief, the over-50’s are playing an increasingly important role in our economic growth. Rather than being a[Read More…]

by 0 comments Economy, Europe
Fiscal Challenges of Population Aging in Brazil

Fiscal Challenges of Population Aging in Brazil

Brazil’s population is aging. Declining fertility rates and increasing life expectancy are important drivers of demographic changes in Brazil and Latin America, contributing to slowing population growth and a rising share of the elderly in the population. Over the past half a century, the fertility rate in Brazil has halved and is now in line with that of more advanced[Read More…]

by 0 comments Americas, Economy
Poverty among the ‘Silent Generation’

Poverty among the ‘Silent Generation’

The report by Independent Age is about the financial circumstances of the group of older people who lived through the Second World War – sometimes called the ‘Silent Generation’. Our new analysis of incomes data (primarily the Family Resources Survey) looks at the differences between groups of older people and identifies those who are at risk of being forgotten on[Read More…]

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Ageing population and financial services (UK)

Ageing population and financial services (UK)

Financial Conduct Authority in UK published the “Ageing population and financial services” report. Linda Woodall (Director of Life Insurance and Financial Advice and Sponsor of Ageing Population Project Financial Conduct Authority) published this introduction of the report. People are living longer lives on an unprecedented scale. In the next five years, the number of consumers aged over 65 in the[Read More…]

by 0 comments Economy, Europe
Aging and Urbanization

Aging and Urbanization

Two inexorable and intersecting demographic trends are already defining the 21st century: rapid urbanization and an aging population. The world’s cities must meet the challenges posed by these changes to compete on a global scale. Widely accepted statistics bring these challenges into clear focus. By 2030, more than 1 billion people — one in every eight — will be aged[Read More…]