World Economic Forum says looming fourfold rise in over-65s by 2050 is financial equivalent of climate changeThe retirement age in Britain and other main developed countries will need to rise to 70 by the middle of the century to head off the biggest pension crisis in history,according to the World Economic Forum.
The body that runs the annual gathering of the global elite in Davos said deficits in the world’s six largest pension systems would more than quadruple to $224tn by 2050 unless people worked longer and saved more. Related: Forget Brexit, the real challenge is creating enough wealth for an ageing population Related: The original retirement: how an ageing population is transforming Britain Continue reading...
Source: theguardian.com