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The world is living longer. By 2050, 16% of the population of democratic countries that support free market economies will be over the age of 65.1 This should be celebrated, but we also must consider the implications increased longevity has on the financial systems intended to meet retirement needs. In many countries, these systems are adapting. In this paper, we review some of these changes, while also considering the implications for members in these systems. For many, modifications in lifestyle and savings habits will need to be considered.

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  1. Source: United Nations, Department of Economic and Social Affairs: Population Dynamics , World Population Prospects, 2019.

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