Global Demographics and Retirement Implications

Key Points

  • This paper looks at 10 advanced countries (Australia, Canada, France, Germany, Italy, Japan, Netherlands, Sweden, the UK and the US) and shows how changing age boundaries can lower old-age dependency ratios.
  •  It explores the role demographic differences play in explaining differences in consumption, savings, labour, retirement and debt patterns across countries
  •  It recommends policy changes to create sustainable systems that reflect modern demographics, for example:
    • Abolish mandatory retirement ages
    • Make state benefits more flexible,
    • Promote gender equality,
    • Adopt selective immigration and
    • Encourage lifelong learning
  • It identifies the need to address the potential inequality created by the shift towards Defined Contribution pensions.
  • It suggests funds offer retirees appropriate retirement income options and post-retirement default solutions to aid the transition from the savings phase to the retirement phase
     

Contact the Global Demographics & Retirement Research team for a full copy of this report.

 

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