Rethinking Retirement Ratios
The coming pension crunch could be even worse than most people believe, because the tools used to measure the economic impact of aging are not properly calibrated. There is a huge disparity between the number of people traditionally counted as being retired and those who actually depend on pensions to live.
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MUNICH – It has been clear for some time that a pension crunch is coming, and that it will be bad news for government spending everywhere. The proportion of old people – and specifically those who are retired – is growing rapidly, especially in developed countries, where the trend is already putting pressure on social welfare systems.