19 Apr 2018
The Pension Time Bomb: US$400 trillion
- Posted by Dejan Pekic BCom DipFP CFP GAICD, Senior Financial Planner
The World Economic Forum is estimating a current combined retirement savings GAP of US$70 trillion for Australia, Canada, China, India, Japan, Netherlands, United Kingdom and United States.
This deficit is forecast to reach US$400 trillion by 2050 with the key driver being increasing longer life spans.
As the number of retirees increase from 1.5 billion to 2.1 billion between 2017 to 2050 The World Economic Forum predicts that the number of workers for each retiree will halve from 8 to 4 which is the financial equivalent of climate change.
The message, don’t rely on social security for your retirement.
Click to read.
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