Pensions - a global time bomb; World Economic Forum

From The Telegraph, Szu Ping Chan - Pensions are sitting on a global time bomb, warns WEF

"The world’s biggest economies are sitting on a $70 trillion (£54 trillion) pensions time bomb that will balloon to more than $400 trillion within four decades unless policymakers take urgent action, the World Economic Forum has warned. Analysis by the WEF showed the six countries with biggest pensions – the US, UK, Japan, Netherlands, Canada and Australia – as well as China and India – the two most populous countries in the world – faced a retirement savings gap of $428 trillion in 2050, up from $67 trillion in 2015".

"The WEF believes workers need to save between 10pc and 15pc of their annual salary to support a reasonable level of income in retirement. It warned that many workers faced a shock in later life, with current savings rates “not aligned with individuals’ expectations for retirement income – putting at risk the credibility of the whole pension system".


World Economic Forum report (pdf) -

The Future of Pensions and Healthcare in a Rapidly Ageing World Scenarios to 2030