2018 Global Retirement Index: An in-depth assessment of welfare in retirement around the world
Retirement security is arguably at the crossroads of history. On one side is the three-pillar funding model that’s been the basis of retirement systems across the globe for the better part of a century. On the other is the reality of 21st century demographics, fiscal imbalances, and monetary policies that are straining the resources of governments, employers and individuals worldwide. In the balance is our ability as a society to provide individuals with the opportunities and resources that will allow them to live with dignity in the years after work.
With the 2018 Natixis Global Retirement Index, we seek to offer insight into how a wide and diverse set of factors is pressuring the notion of retirement around the globe. As an asset manager, we of course emphasize finances in retirement in our analysis. This is the area where we can contribute most to the dialogue and have the most direct impact on longterm outcomes. But we also seek to include other critical factors such as quality of life, health, and material wellbeing – drawing upon the views of organizations focused on these issues – to provide a more complete picture of where the challenges for today’s retirees lie and where future sustainability efforts must focus if we are to attain the goal of a more secure retirement.
An aging global population may seem to be the greatest challenge. After all, we live in a world of 7 billion people where the average life expectancy is 72 years today and may be as much as 100 for those born in the year 2000. But it is critical to recognize that aging demographics are not the only challenge. Retirement security also depends on how we as a society address critical questions about income and wealth inequality, affordable and accessible healthcare, environmental quality and safety, and the long-term stability of financial systems around the world.
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