Citi International Views and Options compiled the report and problem the narrative that the ageing inhabitants shall be depending on a smaller working-age inhabitants that won’t be ample to help the wants of older generations.
“One of many challenges of the mix of accelerating life expectancy and declining fertility is the chance of many extra aged folks turning into depending on a declining workforce,” mentioned Professor Ian Goldin, Oxford College Professor of Globalization and Growth and director of a number of analysis programmes on the Oxford Martin College. “Governments and corporations have to discover find out how to permit folks to work in several methods and to develop far more versatile retirement and seniority constructions to make sure demographic change is embraced as a chance reasonably than crippling households and economies.”
Whereas the impression of ageing can’t be ignored – the report notes the significance of supporting wholesome ageing and shifting to a extra preventive healthcare system in maximizing the rising cohort of over 65s – monetary planning and monetary inclusion are additionally important to making sure that older individuals are not reliant on state advantages.
“The over 65 inhabitants has grown quickly over the previous decade within the U.S. alone, leading to an ever-increasing want for monetary planning to make sure we are able to construct ourselves sustainable monetary futures over many years,” mentioned Gonzalo Luchetti, Citi Head of US Private Banking.
