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The Global Retirement Crisis: The Threat to World Stability and What To Do About It
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Richard Jackson,
Center for Strategic and International Studies,
4/1/2002
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Along the way, it will compel both the public and private sectors to rethink retirement systems which once seemed affordable, but will soon be putting
enormous pressure on government budgets and national economies. In confronting the aging challenge, America enjoys some considerable advantages: a relatively young population, a willingness to welcome immigrants, and a well-developed private pension system, to name a few. In Europe and Japan, which have older populations, more generous public pension systems, and less flexible and entrepreneurial economies, the outlook is much more serious. But make no mistake: The challenge of global aging will pass no nation by. According to the report, the bill for public retirement benefits in the typical developed country is due to double to one-quarter of GDP by the middle of the century. We may discover that the recent financial crises in Asia and Argentina pale before what lies ahead if the major developed economies fail to reform their retirement systems—and soon.
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Link to Report (PDF)
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Pages: 97
Price: Free
Ordering Information:
Center for Strategic and International Studies
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